Benzinga's Microcap Movers for Thursday November 8, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Palatin Technologies (NYSE: PTN), the Cranbury, NJ biopharmaceutical company, rose 21.37% Thursday on 19 times average volume.
Palatin Technologies reported positive top-line results Thursday, including the successful achievement of statistical significance for the primary endpoint and key secondary endpoints in its Phase 2B clinical trial evaluating the efficacy and safety of bremelanotide for the treatment of female sexual dysfunction.
The data demonstrate that women taking bremelanotide showed statistically significant increases in the number of Satisfying Sexual Events (SSEs) and also showed statistically significant improved measures of overall sexual functioning and distress related to sexual dysfunction, compared with placebo.
Palatin Technologies closed at $0.14 on Thursday.
Shares of TG Therapeutics (OTC: TGTX), the New York City-based clinical-stage biopharmaceutical company, rose 18.42% Thursday on 86,000 shares.
TG Therapeutics announced Thursday its results for the third quarter ended September 30, 2012 and recent company developments. The consolidated net loss for the third quarter ended September 30, 2012 was $2.7 million, $2.5 million or $0.16 per diluted share, which was attributable to TG Therapeutics, Inc. and subsidiaries.
The consolidated net loss for the third quarter ended September 30, 2012 included a $1 million upfront milestone payment to our partner Rhizen Pharmaceuticals in conjunction with the signing of our global collaboration agreement for TGR-1202, our novel P13K delta inhibitor. The consolidated net loss for the third quarter ended September 30, 2012, also included $0.8 million of non-cash compensation expense related to equity incentive grants.
TG Therapeutics closed at $2.25 on Thursday.
Shares of Cannabis Science (OTC: CBIS), the Colorado Springs, CO developer of phytocannabinoid-based pharmaceutical products, rose 28.01% Thursday on 6 times average volume.
Cannabis Science rose following the Colorado voters passage of Amendment 64 Tuesday and Washington state voters passage of Initiative 502 legalizing marijuana for recreational use. In Massachusetts, voters approved medical marijuana use for certain conditions.
Cannabis Science closed at $0.07 on Thursday.
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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