Benzinga's Microcap Movers for Friday August 24, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Anthera Pharmaceuticals (NASDAQ: ANTH), the Hayward, CA biopharmaceutical company, rose 14.71% Friday on average volume.
Anthera shares spiked higher around 1:30 pm, crossing the $1.00 mark. A company spokesperson said there had been no news released to account for the move.
Anthera Pharmaceuticals closed at $0.98 on Friday.
Shares of Penson Worldwide (NASDAQ: PNSN), the Dallas, TX provider of clearing related operational and technology services, rose 20.93% Friday on twice the average volume.
On August 20, 2012, Penson Worldwide received a letter from The NASDAQ Stock Market indicating that the Company did not maintain a minimum of $10 million in stockholders' equity for continuing listing on The NASDAQ Global Select Market pursuant to applicable NASDAQ listing rules. The letter also states that under the Rules, the Company has 45 calendar days to submit a plan to regain compliance, and if the plan is accepted, NASDAQ may grant an extension of up to 180 calendar days to evidence compliance. Alternatively, the Company may consider applying to transfer the Company's common stock to The NASDAQ Capital Market if the Company meets certain continuing listing standards for such market, except for the minimum bid price requirements. In addition, as previously disclosed in Current Reports on Form 8-K filed on May 7, 2012 and July 27, 2012, the Company is not in compliance with certain NASDAQ continuing listing standards relating to the $1.00 minimum bid price requirements and the minimum market value of publicly held shares of $5 million.
Penson Worldwide closed at $0.10 on Friday.
Shares of Savient Pharmaceuticals (NASDAQ: SVNT), the East Brunswick, NJ biopharmaceutical company, rose 11.93% Friday on 4 times average volume.
A positive Seeking Alpha article on Friday may be attributed to the move.
Savient Pharmaceuticals closed at $1.22 on Friday. The stock is down 75% from its 52-week high.
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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