Benzinga's Small Cap Movers for Wednesday February 20, 2013

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

Shares of Cornerstone Therapeutics

, the Cary, NC specialty pharmaceutical company, rose 24% Wednesday on 6.5 times average volume. Cornerstone Therapeutics announced Wednesday that its Board of Directors has received a letter from company's common stock that it does not already own, for a cash purchase price of between $6.40 and $6.70 per share. Cornerstone Therapeutics closed at $6.85 on Wednesday.

Threshold Pharmaceuticals

, the San Francisco, CA biopharmaceutical company, rose 11% Wednesday on 3 times average volume. Piper Jaffray upgraded Threshold Pharmaceuticals on Wednesday, raising the price target to $10. Piper cited Threshold's TH-302 opportunity. Threshold Pharmaceuticals closed at $3.72 on Wednesday.

Shares of Chelsea Therapeutics

, the Charlotte, NC biopharmaceutical development company, rose 153% Wednesday on 33 times average volume. Chelsea Therapeutics announced Wednesday that it has received written guidance from the Director of the Office of New Drugs at the FDA, stating that Study 306B has the potential to serve as the basis for a resubmission of a Northera NDA for the treatment of symptomatic neurogenic orthostatic hypotension. The guidance is in response to a formal appeal by Chelsea to the Director, and follows a meeting with the Director and top staff from the Office of Drug Evaluation I and Division of Cardiovascular and Renal Products at the FDA's Center for Drug Evaluation and Research. Chelsea Therapeutics closed at $1.94 on Wednesday.