Benzinga's Microcap Movers for Monday August 14, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Proteonomix (PROT), the Mountainside, NJ biotechnology company, rose 155% Monday on 3 times average volume.
Proteonomix announced Tuesday that the U.S. Food and Drug Administration has granted permission to the Company to initiate a Phase 1 clinical trial with its mobilization technology UMK-121. The Proteonomix-sponsored trial will evaluate UMK-121 in patients with end-stage liver disease.
“Permission by the FDA marks an important milestone in our plans to initiate a Company-sponsored clinical trial with UMK-121, following years of research and investment to advance development of this drug candidate,” said Proteonomix Chief Technology Officer Steven Byle. “We hope and anticipate that this trial will demonstrate the potential of UMK-121 to mobilize stem cells in order to improve liver function in patients with ESLD. We consider ourselves fortunate to be involved with a development-stage therapy that could improve the life expectancy for this class of terminally ill patients awaiting liver transplants.”
Proteonomix closed at $4.11 on Monday.
Shares of Guanwei Recycling (NASDAQ: GPRC), the China-based manufacturer and distributor of low density polyethylene, rose 38.10% Monday on 13 times average volume.
Guanwei Recycling reported Tuesday that revenues in its second quarter ended June 30, 2012 increased 18.6% to $18,694,938, including $1,773,129 from the resale of raw materials, compared with revenues of $15,757,662 in the same quarter last year. The Company also reported an increase of 3.41% in the selling prices of its manufactured recycled LDPE year over year. However, this increase was not sufficient to offset increased raw material, labor and overhead costs in the period. The resulting lower profit margins contributed to an 8.41% year over year decline in net income to $3,163,030, or $0.15 per share, compared with $3,453,360, or $0.17 per share, in the 2011 second quarter.
Guanwei Recycling closed at $0.87 on Monday.
Shares of Aeterna Zentaris (NASDAQ: AEZS), the Canada-based biopharmaceutical company, rose 33.33% Monday on almost 3 times average volume.
Aeterna Zentaris reported Tuesday financial and operating results as at and for the second quarter ended June 30, 2012.
Revenues were $7.5 million for the quarter ended June 30, 2012, compared to $6.5 million for the same quarter in 2011. This increase is largely attributable to comparative higher deliveries of Cetrotide to certain customers and to higher research and development services provided, partly offset by the relative weakening of the euro against the US dollar.
Net income amounted to $4.5 million, or $0.04 per basic and diluted share, for the quarter ended June 30, 2012, compared to a net loss of $10.6 million, or $0.12 per basic and diluted share, for the same quarter in 2011. This significant decrease in net loss is mainly attributable to higher net finance income.
Aeterna Zentaris closed at $0.51 on Monday.
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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