Benzinga's Small Cap Movers for Tuesday March 5, 2013
Below are highlights from Benzinga's daily coverage of small cap securities making big moves:
Shares of Galectin Therapeutics (NASDAQ: GALT), the Norcross, GA developer of therapeutics that target galectin proteins to treat fibrosis and cancer, rose 14% at one point on Tuesday on 3.5 times average volume.
Galectin Therapeutics announced Tuesday that following review of its Investigational New Drug application, the US Food and Drug Administration notified the company that it may proceed with a Phase 1 clinical trial. The first-in-man Phase 1 clinical trial will support a proposed indication of GR-MD-02 for treatment of non-alcoholic steatohepatitis (NASH, or fatty liver disease) with advanced fibrosis.
Galectin Therapeutics closed at $3.80 on Tuesday.
Acura Pharmaceuticals (NASDAQ: ACUR), the Palatine, IL REIT, rose 48% Tuesday on 16 times average volume.
Acura Pharmaceuticals announced Tuesday that its new next generation pseudoephedrine with abuse deterrent technology will now be stocked by chain drug store KERR DRUG. Nexafed [pseudoephedrine hydrochloride (HCl)], is a 30 mg immediate-release pseudoephedrine product that combines effective nasal-congestion relief with a unique technology that disrupts the conversion of pseudoephedrine into the dangerous drug, methamphetamine (meth).
With more than 75 locations, KERR DRUG is a North Carolina-based drug store chain with deep roots in their communities and has historically been recognized as a pharmacy leader. Nexafed should begin to appear on KERR DRUG shelves within two weeks.
Acura Pharmaceuticals closed at $3.04 on Tuesday.
Shares of American Apparel (NYSE: APP), the Los Angeles, CA manufacturer, distributor, and retailer of branded fashion-basic apparel, rose 18% Tuesday on 5 times average volume.
American Apparel announced financial results Monday, for its fourth quarter and year ended December 31, 2012. The Company also provided guidance with respect to expected 2013 performance.
Comparing the fourth quarter 2012 to the corresponding period last year, net sales increased 10% to $173.0 million on an 11% increase in comparable store sales in the retail and online business and a 19% increase in net sales in the wholesale business. Net income for the fourth quarter of 2012 was $4.9 million, or $0.04 per common share on a fully-diluted basis, compared to net loss for the fourth quarter of 2011 of $11.2 million or $0.11 per common share.
American Apparel closed at $1.53 on Tuesday.
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