Benzinga's Microcap Movers for Wednesday April 25, 2012
Below are highlights from Benzinga's daily coverage of microcap securities making big moves:
Shares of Codexis (NASDAQ: CDXS), a developer of industrial enzymes to enable the cost advantaged production of biofuels, bio-based chemicals, and pharmaceutical intermediates, rose 2.39% Wednesday on almost 7 times the average daily volume.
Codexis announced Tuesday that the FDA has approved a new process co-developed by Codexis for the manufacture of sitagliptin, the active pharmaceutical ingredient in Merck's Januvia.
“FDA approval of this manufacturing process is a major milestone for Codexis,” said Peter Strumph, Interim Chief Executive Officer. “This is another example of how our directed evolution technology can deliver well controlled, cost advantaged commercial pharmaceutical, biofuel, or bio-based chemical production processes.”
The approved process, which won the Presidential Green Chemistry Award in 2010, is a more environmentally friendly and efficient production process than those used in the past.
Specifically, it indicates the potential for improving the overall increase in yield of sitagliptin, while significantly decreasing waste byproducts.
Codexis closed at $3.85 on Wednesday.
Medgenics (NYSE: MDGN), the developer of a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, rose 23% Wednesday on 10 times the average daily volume.
Medgenics announced Monday that it had filed for Orphan Drug Designation with the U.S. Food and Drug Administration for INFRADURE for the treatment of hepatitis D. INFRADURE is based on Medgenics' proprietary tissue-based Biopump platform technology, which uses the patient's own tissue to continuously produce and deliver therapeutic proteins, such as interferon-alpha for use in the treatment of hepatitis.
Orphan Drug Designation carries multiple benefits, including the availability of grant money, certain tax credits and seven years of market exclusivity, as well as the possibility of an expedited regulatory process.
This application for Orphan Drug Designation follows Medgenics' recent submission of an Investigational New Drug application to the FDA for a Phase IIb anemia trial in dialysis patients using EPODURE, a different implementation of the same Biopump platform that produces erythropoietin.
Medgenics closed at $6.46 on Wednesday.
Sino Clean Energy
Shares of Sino Clean Energy (NASDAQ: SCEI), the China-based producer and distributor of coal-water slurry fuel, rose 14.97% Wednesday on almost twice the average daily volume.
A positive Seeking Alpha article, citing strong fundamentals and a strong outlook, appears to be responsible for the move.
Sino Clean Energy closed at $1.92 on Wednesday.
The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.
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