Benzinga's Small Cap Movers for Wednesday December 12, 2012
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Daqo New Energy
Shares of Daqo New Energy (NYSE: DQ), the China-based polysilicon manufacturer, rose 31% Wednesday on 14 times average volume.
Daqo New Energy announced that the ratio for its ordinary shares to American Depositary Shares (the "ADS") will change from one (1) ADS representing five (5) ordinary shares to one (1) ADS representing twenty five (25) ordinary shares (the "Ratio Change").
Record holders of the Company's ADS as of the effective date will be entitled to receive one (1) new ADS, each representing twenty five (25) ordinary shares, in exchange for every five (5) ADSs held by them. The effective date is expected to be December 21, 2012.
Daqo New Energy closed at $1.05 on Wednesday.
Shares of ARCA biopharma (NASDAQ; ABIO), the Broomfield, CO biopharmaceutical company, rose 24% Wednesday on 14 times average volume.
ARCA biopharma announced Wednesday that the paper "Effect of Bucindolol (Gencaro) on Heart Failure Outcomes and Heart Rate Response in Patients with Reduced Ejection Fraction Heart Failure and Atrial Fibrillation” was published in the European Journal of Heart Failure, a publication of the Heart Failure Association of the European Society of Cardiology (sted ARCA biopharma, Inc. (ABIO) announces the paper "Effect of Bucindolol (Gencaro) on Heart Failure Outcomes and Heart Rate Response in Patients with Reduced Ejection Fraction Heart Failure and Atrial Fibrillation” was published).
The paper discusses post-hoc analyses of data from the Phase 3 clinical study of Gencaro in heart failure, known as the Beta-Blocker Evaluation of Survival Trial (BEST), which was sponsored by the National Heart, Lung and Blood Institute of the National Institutes of Health, and the Cooperative Studies Program of the Department of Veterans Affairs. These data demonstrate that patients with established atrial fibrillation (AF) in BEST who received Gencaro had improvements in heart failure clinical endpoints.
ARCA biopharma closed at $0.45 on Wednesday.
Shares of Cosi (NASDAQ: COSI), the Deerfield, IL operator and franchiser of convenience dining restaurants, rose 15% Wednesday on 4 times average volume.
Così announced Wednesday another step in its strategic effort to enhance its brand and image. Tapping into a current popular restaurant trend, Cosi redesigned its South Michigan Avenue downtown Chicago space in a matter of three days and reopened in a fun, energetic, "Pop-Up" style. The 4,000-square-foot eatery is testing newer thoughts on creative and innovative ideas for lunch and dinner as well as preparing for next-stage developments throughout the chain. The focus is definitely on unique, flavorful and fresh (new and existing) ingredients emphasizing thoughtful sourcing and following through with great execution.
Cosi closed at $0.68 on Wednesday.
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