Benzinga's Microcap Movers for Friday September 14, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Shares of Virco (NASDAQ: VIRC), the Torrance, CA manufacturer and supplier of furniture and equipment for K-12 schools, rose 77.73% Friday on 50 times average volume.
Virco announced second quarter results Friday in a letter to stockholders from CEO Robert A. Virtue:
"While our second quarter revenues continue to reflect an uneven recovery in state and municipal funding for public schools, last year's restructuring led to significantly improved financial results for the second quarter and first half of fiscal 2012 compared to the same periods in fiscal 2011."
Virco closed at $2.75 on Friday.
Shares of DARA BioSciences (NASDAQ: DARA), the Raleigh, NC biopharmaceutical company, rose 25.27% Friday on 30 times average volume.
Switzerland's Helsinn Group announced Thursday that it has entered into an exclusive agreement with DARA BioSciences (NASDAQ: DARA) for U.S. commercial rights to Gelclair. Gelclair is an FDA-cleared product indicated for the treatment of oral mucositis which DARA plans to launch in the first quarter of 2013.
DARA BioSciences closed at $1.23 on Friday.
Ultrapetrol (NASDAQ: ULTR), the Bahamas-based industrial shipping company, rose 12.61% Friday on higher than average volume.
Ultrapetrol announced Friday that it has received written notification from The Nasdaq indicating that the company is not in compliance with the applicable Nasdaq Listing Rule because the closing bid price of the Company's common stock for the previous 30 consecutive business days was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq Global Market.
In order to regain compliance, the closing bid price of the Company's common stock must be at least $1 for a minimum of 10 consecutive business days at any time during a 180-day grace period. The Company intends to monitor the closing bid price of its common stock between now and March 11, 2013 and is considering its options in order to regain compliance with the Nasdaq Global Market minimum bid price requirement.
Ultrapetrol closed at $1.34 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.
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