Market Overview

Benzinga's Small Cap Movers for Friday February 22, 2013

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

pSivida

Shares of pSivida (NASDAQ: PSDV), the Watertown, MA provider of miniaturized, sustained-release drug delivery products for the eye, rose 18% Friday on 24 times average volume.

A spokesperson for pSivida said there was no company issued news to account for the move.

pSivida closed at $2.13 on Friday.

EDAP

EDAP (NASDAQ: EDAP), the Lyon, France designer, developer of the Ablatherm high-intensity focused ultrasound treatment for localized prostate cancer, rose 18% Friday on 8.5 times average volume.

EDAP announced Friday, new long term data demonstrating high rates of both cancer-specific survival, and freedom from salvage therapy for patients treated with high-intensity focused ultrasound therapy. The study was performed by Drs. Stefan Thurroff and Christian Chaussy and evaluated the cancer control and morbidity of HIFU, in combination with transurethral resection of the prostate prior to treatment, over a 15 year period. The study was electronically published in February 2013 by the Journal of Urology, the Official Journal of the American Urological Association.

EDAP closed at $3.42 on Friday.

Novatel Wireless

Shares of Novatel Wireless (NASDAQ: NURO), the San Diego, CA provider of wireless solutions, rose 11% Friday on average volume.

Novatel Wireless announced preliminary financial results on Thursday for the fourth quarter and fiscal year ended December 31, 2012.

Fourth quarter revenue was $70.7 million, as compared to $109.8 million in the fourth quarter of 2011. GAAP net loss in the quarter was $14.9 million, or $(0.45) per share. The GAAP net loss includes the impact of non-cash items including $1.1 million in share-based compensation expense; $1.0 million of employee stock purchase plan cancellation charges; $0.3 million of an intangible asset valuation increase; $2.6 million of depreciation and amortization expense; and, $0.3 million in deferred tax asset charges. On a non-GAAP basis, net loss for the quarter was $12.6 million, or $(0.38) per share.

Novatel Wireless closed at $1.99 on Friday.

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.

Posted-In: Long Ideas News Short Ideas Small Cap Global After-Hours Center Movers Trading Ideas

 

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