Market Overview

Benzinga's Small Cap Movers for Wednesday January 30, 2013

Below are highlights from Benzinga's daily coverage of small cap securities making big moves:

ARCA biopharma

Shares of ARCA biopharma (NASDAQ: ABIO), the Boomfield, CO biopharmaceutical company, rose 72% Wednesday on 28 times average volume.

ARCA biopharma today provided an update Wednesday on a proposed, genetically-targeted clinical trial in atrial fibrillation (“AF”) of the Company's lead developmental drug, Gencaro (bucindolol hydrochloride). The Company also announced that Medtronic (NYSE: MDT), a leader in medical technologies to improve the treatment of chronic diseases, including cardiac rhythm disorders, has signed a non-binding Letter of Intent to collaborate on the initial, Phase 2B portion of the proposed trial.

ARCA biopharma closed at $0.68 on Wednesday.

Meru Networks

Meru Networks (NASDAQ: MERU), the Sunnyvale, CA provider of virtualized wireless LAN solutions, rose 41% Wednesday on 34 times average volume.

Meru Networks reported Tuesday record Q4 and FY 2012 financial results. Total revenues for the fourth quarter of 2012 were $28.2 million, up 21% from $23.3 million in the fourth quarter of 2011.

Net loss as reported in accordance with GAAP was $4.3 million for the fourth quarter of 2012, or a net loss of $0.24 per basic and diluted share, compared to net loss of $8.2 million, or a net loss of $0.46 per basic and diluted share, for the same period of 2011.

Meru Networks closed at $3.40 on Wednesday.

ADVENTRX Pharmaceuticals

Shares of ADVENTRX Pharmaceuticals (NYSE: ANX), the San Diego, CA biopharmaceutical company, rose 21% Wednesday on 13 times average volume.

ADVENTRX Pharmaceuticals announced Wednesday that it has initiated patient recruitment in its pivotal phase 3 clinical study of ANX-188 (purified poloxamer 188) in sickle cell disease.

ADVENTRX Pharmaceuticals closed at $0.72 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 financia

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