Benzinga's Microcap Movers for Monday March 26, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of ARCA biopharma (NASDAQ: ABIO), the Broomfield, CO biopharmaceutical company, fell 0.84% Monday on 6.5 times the average daily volume.
ARCA biopharma announced Monday, results of analyses of atrial fibrillation data from the BEST trial, a previously conducted Phase 3 heart failure trial involving Gencaro, in 2,708 advanced heart failure patients. Researchers believe increasing plasma norepinephrine levels as a measure of adrenergic activity herald worsening of HF in patients with reduced left ventricular ejection fractions. In this new analysis, researchers, including Dr. Michael R. Bristow, ARCA's CEO, found that patients who developed new onset AF during the BEST trial had higher baseline NE levels than patients who did not develop AF. NE levels at three months decreased in the Gencaro subgroups compared to placebo subgroups. Researchers believe this sympatholytic effect likely contributed to an associated 41% reduction in the risk of developing AF for the 1,202 Gencaro patient cohort without AF at baseline. As previously reported at the American Heart Association's Scientific Sessions 2011, Gencaro reduced the risk of developing AF by 74% in the genetic subgroup that was homozygous for the 389 arginine version of the beta-1 adrenergic receptor, which has high affinity for norepinephrine. Researchers found that Gencaro's norepinephrine lowering properties appear to contribute to its effects in all HFREF patients, but in particular those who have only beta-1 389 arginine receptors.
The data were selected for moderated poster presentation at the American College of Cardiology 61st Annual Scientific Sessions & Expo, being held March 24-27, 2012 in Chicago, Illinois. Dr. Ryan Aleong, Assistant Professor of Medicine, Cardiology, Director of Implanted Cardiac Device Clinic, University of Colorado Hospital, and Interim Director of Arrhythmia Services at Denver Health Medical Center, presented “Bucindolol's Sympatholytic Properties Contribute to Reduction in the Risk of Developing New Onset Atrial Fibrillation in Patients with Advanced Heart Failure” during the session “Arrhythmias: AF/SVT: Continuing Role of Pharmacologic Therapy for Atrial Arrhythmias.
ARCA biopharma closed at $1.36 on Monday, though it had traded as high as $1.15 during the day.
Shares of Gravity (NASDAQ: GRVY), the online game developer and publisher based in South Korea, rose 16% Monday on 10 times the average daily volume.
Gravity announced Monday that Ragnarok Online II was commercially launched in Korea on March 26, 2012.
Ragnarok Online II, a sequel to Ragnarok Online, the Company's flagship title, is a free-to-play massively multiplayer online role playing game with micro-transaction system, or sale of virtual in-game items model, which provides virtual item shops in the game where players can purchase value-added items to customize, personalize and enhance their characters and game playing experiences.
Gravity closed at $3.41 on Monday.
Network Equipment Technologies
Shares of Network Equipment Technologies (NASADAQ: NWK), the Freemont, CA developer and manufacturer of voice and data telecommunications equipment for multi-service networks, rose 21% Monday on 1.7 times the average daily volume. Network Equipment Technologies announced Monday that its UX Series platform has received Microsoft Lync Server 2010 qualification under the Survivable Branch Appliance v2 specification. NET's UX Series, a high performance mediation platform, is purpose-built for unified communications and enterprise session border controller applications. The SBA specification includes changes that enable the use of less-expensive processors and support for the virtualization capability with more-powerful processors. The recent qualifications achieved by NET broaden the range of enterprises that can benefit from the UX Series' capabilities, from very small branch offices to large campuses.
Network Equipment Technologies closed at $1.19 on Monday.
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