Benzinga's Microcap Movers for Thursday February 2, 2012

Below are highlights from Benzinga's daily coverage of microcap securities making big moves:

Shares of Hybrid Fuels (HRID), the Fort Lauderdale, FL developement stage company, rose 17% Thursday on 263 times the average daily volume. Hybrid Fuels announced Thursday that after a lengthy and heavily scrutinized review process that it has selected a state-of-the-art FDA approved laboratory to manufacture all new orders of Azul Instant. Azul Instant was developed by the scientific research and development team of Nouveau Life Pharmaceuticals. The formula was developed with the same principals as other erectile dysfunction pharmaceuticals but in a safe and natural formulation. Patients will now receive the NATURAL benefits of Azul Instant without experiencing the side effects associated with prescription medications. Hybrid Fuels closed at $0.09 on Thursday.

Shares of GMX Resources

, the Oklahoma City independent oil and natural gas exploration and production company, rose 63% Thursday on 9 times the average daily volume. On Wednesday, GMX Resources provided a positive

and guidance for 2012. On Thursday, GMX received an upgrade from sell to hold at Stifel Nicolaus. GMX Resources closed at $1.54 on Thursday.

Shares of MediciNova

, the San Diego, CA biopharmaceutical company, rose 30% Thursday on 67 times the average daily volume. MediciNova announced on Wednesday that it had received a Notice of Allowance from the U.S. Patent and Trademark Office for a pending patent application, which covers the use of ibudilast for the treatment of progressive forms of multiple sclerosis. Ibudilast, is the company's lead drug development candidate for certain neurological conditions, including progressive multiple sclerosis, neuropathic pain, and drug addiction. MediciNova closed at $2.46 on Thursday.