Market Overview

Benzinga's Microcap Movers for Friday February 3, 2012


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

Threshold Pharmaceuticals

Shares of Threshold Pharmaceuticals (NASDAQ: THLD), the Redwood City, CA biotechnology company, rose 131% Friday on 38 times the average daily volume.

Threshold Pharmaceuticals announced Friday that a global agreement was signed with Merck KGaA, Darmstadt, Germany, to co-develop and commercialize TH-302, Threshold's small molecule hypoxia-targeted drug. TH-302 is currently being investigated in a global Phase 3 clinical trial in patients with soft tissue sarcoma, a randomized Phase 2 trial in patients with advanced pancreatic cancer from which top-line results are expected in February, as well as additional clinical studies in other solid tumors and hematological malignancies.

Under the terms of the agreement, Merck will receive co-development rights, exclusive global commercialization rights and will provide Threshold an option to co-commercialize the therapeutic in the United States. In exchange, Threshold will receive an upfront payment of $25 million and could receive up to $35 million in additional development milestones during 2012. Threshold is also eligible to receive a $20 million milestone payment based on positive results from its randomized Phase 2 trial in pancreatic cancer. Total potential milestone payments are $525 million, comprised of $280 million in regulatory and development milestones and $245 million in sales-based milestones.

Threshold Pharmaceuticals closed at $2.99 on Friday.

SNAP Interactive

Shares of SNAP Interactive (STVI), the New York City developer of online dating applications for social networking, rose 10% Friday on 11 times the average daily volume.

Wednesday's Facebook IPO filing gave a boost to many social networking-related stocks over the past week. A positive Seeking Alpha post on Friday, indicated Snap was undervalued.

SNAP Interactive closed at $2.15 on Friday.

Kaleidoscope Venture Capital

Shares of Kaleidoscope Venture Capital (KLDO), the Manchester, NH communications and media holding company, rose 194% Friday on 14 million shares.

Kaleidoscope, which has a total market cap of less than $100,000 was the subject of much discussion in the chat rooms and on Twitter on Friday. There was no news to account for the move.

Kaleidoscope Venture Capital closed at $0.0055 on Friday.

Posted-In: Long Ideas News Short Ideas Rumors Small Cap Movers Tech Trading Ideas


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