Benzinga's Microcap Movers for Friday March 30, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of Cannabis Science (CBIS), the Denver, CO development stage company, engaging in the development, production, and commercialization of phytocannabinoid-based pharmaceutical products, rose 28% Friday on 29 million shares.
Cannabis Science announced that CEO Dr. Robert Melamede was featured on NBC Channel 12 News in Arizona on Thursday March 29th, answering medical questions and discussing the new documentary “Chronic Future - Killing Cancer”, which will premier on April 5th, 2012, at the Harkins Theater on Shea and Scottsdale Road in Scottsdale.
The documentary covers everything from the success in the use of medical cannabis with different cancer patients, as well as the actions of the federal government, making it difficult for patients in every state, who need the use of medicinal cannabis for a chronic disease or illness, to attain their medicine without fear.
Cannabis Science closed at $0.14 on Friday.
Aehr Test Systems
Shares of Aehr Test Systems (NASDAQ: AEHR), the Freemont, CA manufacturer of test and burn-in equipment for use in the semiconductor industry, rose 24% Friday on 8 times the average daily volume.
Aehr Test Systems announced Thursday orders for its ABTS Advanced Burn-in and Test System from a Korean test lab, a wireless IC manufacturer and a Japanese semiconductor integrated device manufacturer.
"We are pleased to receive this order for an ABTS-Li system from a leading Korean test lab that is targeting reliability qualifications of high pin-count ICs requiring individual temperature control per device, such as mobile and tablet microprocessors," said Carl Buck, vice president of sales and marketing at Aehr Test Systems. "The ABTS system offers up to 256 universal pin drivers per device with up to 32 million test vectors per pin. Functional testing during burn-in helps ensure that the devices are receiving the proper stimulus during the entire reliability qualification process, which often lasts 6 weeks or longer. We expect the highly flexible and robust ABTS system to be an excellent fit for this environment."
Aehr Test Systems closed at $0.97 on Friday.
Shares of Sunesis Pharmaceuticals (NASDAQ: SNSS), the San Francisco, CA biopharmaceutical company, rose 15% Friday on 10 times the average daily volume. Sunesis Pharmaceuticals and Royalty Pharma today announced that Royalty Pharma has agreed to pay Sunesis $25 million, under certain circumstances related to the successful development of Sunesis' lead product candidate vosaroxin, to acquire a royalty on future worldwide net sales of vosaroxin.
Sunesis is evaluating vosaroxin in a pivotal Phase 3, randomized, double-blind, placebo-controlled trial, the VALOR trial, in patients with first relapsed or refractory acute myeloid leukemia. The VALOR trial employs an adaptive trial design that permits a one-time increase in sample size at the interim analysis by its Data and Safety Monitoring Board.
Sunesis Pharmaceuticals closed at $2.87 on Friday.
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