Benzinga's Small Cap Movers for Tuesday February 19, 2013
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of Novogen (NASDAQ: NVGN), the Australian biotechnology company, rose 209% Tuesday on 8 times average volume.
Novogen announced Monday the results of an important study concerning its lead experimental drug, CS-6. In laboratory studies, CS-6 has shown potent anti-cancer activity against cancer cells representative of a broad range of malignancies including ovarian cancer and glioma (brain) cancer, but it was important to extend this to see whether the drug also would be effective against cancer stem cells. Such dual activity, unknown in all currently approved drugs and very rare among experimental drugs, would mark CS-6 as having significant potential as a comprehensive chemotherapy, targeting both the minority cancer stem cell as well as the majority non-stem cells.
Studies performed in the laboratory of Dr. Gil Mor at Yale University have identified and characterized ovarian cancer stem cells as the source of ovarian cancer recurrence. Targeting these cells, therefore, represent a critical approach to prevent recurrence, the main cause of mortality in patients with ovarian cancer. In laboratory tests conducted since Novogen acquired its new Triaxial drug technology, CS-6 has proved highly effective at stopping the growth of these cancer stem cells, eventually causing them to die.
Novogen closed at $6.47 on Tuesday.
MHI Hospitality (NASDAQ: MDH), the Williamsburg, VA lodging real estate investment trust, rose 6% Tuesday on 27 times average volume.
MHI Hospitality reported Tuesday, its consolidated results for the fourth quarter and the year ended December 31, 2012. The Company generated adjusted EBITDA of approximately $4.6 million during the fourth quarter 2012, an increase of 26.4 percent or approximately $1.0 million over the comparable period in 2011. For the year 2012, the Company generated adjusted EBITDA of approximately $20.2 million, an increase of 18.4 percent or approximately $3.1 million over the prior year.
MHI Hospitality closed at $3.72 on Tuesday.
Shares of Hauppauge Digital (NASDAQ: HAUP), the Hauppauge, NY developer of analog and digital video products for the personal computer (PC), and Apple iPad and iPhone, rose 45% Tuesday on 23 times average volume.
Hauppauge Digital released its 10-Q on Tuesday. Net sales for the three months ended December 31, 2012 decreased $3,496,849 compared to the three months ended December 31, 2011. The factors contributing to the gross profit percentage increase of 12.73% for the three months ended December 31, 2012 were primarily: 1) Favorable gross profit percentage due to mix of higher average sales price retail sales resulted in an increase of 0.91%. 2) A decrease in the Euro to USD exchange rate from $1.3479 for the three months ended December 31, 2011 to $1.2975 for the three months ended December 31, 2012 resulted in a gross profit decrease of 0.80%. 3) Labor related and other costs resulted in a gross profit decrease of 1.24% and 4) Change in estimates to reflect their current exposure resulted in a gross profit increase of 13.86%.
Hauppauge Digital closed at $1.02 on Tuesday.
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