Benzinga's Small Cap Movers for Thursday January 24, 2013
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of Biodel (NASDAQ: BIOD), the Danbury, CT specialty biopharmaceutical company, rose 13% Thursday on 24 times average volume.
Biodel announced Thursday positive top-line results from a Phase 1 clinical trial of two ultra-rapid-acting insulin analog-based formulations, BIOD-238 and BIOD-250, conducted to evaluate the pharmacokinetic and injection site toleration profiles relative to Humalog, a rapid-acting insulin analog. BIOD-238 and BIOD-250 are combinations of Biodel's proprietary excipients with the marketed formulation of Humalog.
Biodel closed at $2.10 on Thursday.
Shares of Jacksonville Bancorp (NASDAQ: JAXB), Jacksonville, FL holding company for Jacksonville Bank, rose 25% Thursday on 25 times average volume.
Jacksonville Bancorp reported in its 8-K/A filing on Thursday: On December 31, 2012, Jacksonville Bancorp entered into an Amended and Restated Stock Purchase Agreement with its largest shareholder, CapGen Capital Group IV LP, and 19 other accredited investors, for the purchase by the Investors of an aggregate of approximately 50,000 shares of the Company's Mandatorily Convertible, Noncumulative, Nonvoting Perpetual Preferred Stock, Series A, liquidation preference $1,000 per share, at a purchase price of $1,000 per share, subject to the terms and conditions contained in the Restated Stock Purchase Agreement.
Included in the approximately 50,000 shares of Series A Preferred Stock are the shares issued to CapGen in the Exchange and the shares purchased through the Subscriptions. In addition to CapGen, eight of the other Investors are current shareholders of the Company, and two of the Investors are affiliates of CapGen. The Restated Stock Purchase Agreement replaced the Stock Purchase Agreement dated August 22, 2012 by and between the Company and CapGen. The Stock Purchase closed on December 31, 2012.
Jacksonville Bancorp closed at $2.76 on Thursday.
Kips Bay Medical
Shares of Kips Bay Medical (NASDAQ: KIPS), the Minneapolis, MN medical device company, rose 16% Thursday on 4 times average volume.
Kips Bay Medical, along with Manny Villafaña, its Founder, Chairman and CEO, announced today that the United States Food & Drug Administration has granted approval for additional US patients to be enrolled in Kips Bay Medical's “eMESH I” clinical feasibility trial of its eSVS Mesh.
Kips Bay Medical closed at $0.77 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 y
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.