Benzinga's Small Cap Movers for Wednesday January 23, 2013
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of EntreMed (NASDAQ: ENMD), the Rockville, MD clinical-stage pharmaceutical company, rose 15% Wednesday on 5 times average volume.
EntreMed announced Wednesday the initiation of a single-center Phase 2 study entitled "A Phase 2 Study of Oral ENMD-2076 Administered to Patients with Advanced/Metastatic Soft Tissue Sarcoma" at Princess Margaret Hospital where the study is led by Malcolm Moore, MD and Albiruni R.A. Razak, MD. The study is sponsored by Princess Margaret Cancer Centre.
EntreMed closed at $2.10 on Wednesday.
Shares of Saratoga Resources (NYSE: SARA), the Houston, TX independent exploration and production company, rose 13% Wednesday on 3.5 times average volume.
Saratoga Resources provided Wednesday, an update on recent drilling activities, including the results of the previously announced SL 195 QQ-209 “Buddy” development well and results of recompletion operations on the previously announced MP-47 SL 195 QQ-24 “Roux” well.
Flow testing of the Buddy well demonstrated an IP test rate of 208 net barrels of oil equivalent per day. Flowing tubing pressure was 580 pounds per square inch on a 19/64” choke. Flow testing of the Roux well demonstrated an IP test rate of 154 net Boepd. Flowing tubing pressure was 990 pounds per square inch on a 18/64” choke.
Saratoga Resources closed at $3.36 on Wednesday.
Orion Energy Systems
Shares of Orion Energy Systems (NYSE: OESX), the Manitowoc, WI developer of energy management systems, rose 21% Wednesday on 11 times average volume.
Orion Energy Systems released the following statement today:
In view of the unusual market activity in Orion Energy Systems' common stock on January 23, 2013, the New York Stock Exchange has contacted the Company in accordance with its usual practice; Orion Energy Systems stated that its policy is not to comment on unusual market activity or speculative matters.
Orion Energy Systems closed at $2.00 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.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.