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Benzinga's Microcap Movers for Tuesday April 24, 2012

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April 24, 2012 5:21 pm
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Below are highlights from Benzinga’s daily coverage of microcap securities making big moves:

Novelos Therapeutics

Shares of Novelos Therapeutics NVLT, the Madison, WI development stage pharmaceutical company, rose 38% Tuesday on 3 times the average daily volume .

Novelos Therapeutics announced Tuesday that the University of Wisconsin Carbone Cancer Center, a leading oncology research institution, has successfully completed the first cohort in a Phase 1-2 positron emission tomography imaging trial of I-124-CLR1404, a cancer-targeted PET imaging agent, in patients with advanced non-small cell lung cancer. The first cohort comprised three patients dosed with LIGHT at 5 mCi. Anne M. Traynor, M.D., is the trial’s principal investigator. Detailed trial results are expected to be presented at a scientific venue at a later date.

“The preliminary results from the first cohort are encouraging. We see strong uptake of LIGHT in cancerous tumors against very low background and have not observed any adverse safety signals,” said Dr. Traynor. “Although still early and in a small number of subjects, there is some suggestion that LIGHT imaging was more tumor-selective than the comparator modality 18F-fluorodeoxyglucose PET.”

Novelos Therapeutics closed at $1.80 on Tuesday.

3D Eye Solutions

Shares of 3D Eye Solutions TDEY, the Longwood, FL provider of 3D content conversion services and hardware integration for the 3D stereo and auto-stereo media industry, rose 183% Tuesday on 15 times the average daily volume.

3D Entertainment Holdings dba 3D Eye Solutions announced Monday that it had completed a year of transition which included the signing of a 10 Year worldwide license agreement between 3D Network International, Inc. and 3D Eye Solutions and a significant reduction of debt. The new company will focus on licensing and distribution of 3D Eye Solutions’ 3D content worldwide and the future acquisition of optical technologies.

3D Entertainment Holdings reduced its long term liabilities from ($2,306,554) for yearend Dec. 31, 2010 to ($1,425,892,) yearend December 31, 2011. As a result of the debt forgiveness, the Company posted under “Other Income” a gain of $738,010, and its net loss for the Year End 2011 was reduced by $862,652. The Net loss for Year end 2011 was just ($278,948) compared to ($1,141,600) in 2010.

3D Eye Solutions closed at $.0085 on Tuesday.

Caduceus Software Systems

Shares of Caduceus Software Systems CSOC, the UK-based software company, rose 321% Tuesday on 43 times the average daily volume.

Caduceus Software Systems reaffirmed its optimistic views Tuesday on the opportunity it hopes to pursue in the burgeoning Electronic Health Records EHR market.

1. Around the world, electronic medical records and electronic health records are being implemented to improve patient care, reduce health care expenses and fundamentally change the way in which medicine is practiced. The benefits realized by EMRs in international markets are largely consistent despite vast variations in health care systems, market structures, competitive landscapes and regulatory requirements.

2. Market forces will drive growth of global EMR markets at rates ranging from 6.6 to 9.7 percent across North America, Europe, Latin America and Asia Pacific. The global market is slated to be worth $19.7 billion in 2013:

North America will experience 9.7 percent growth in its EMR market from $7.4 billion in 2010 to $9.8 billion in 2013. With 5,800 hospitals, EMR adoption is beginning to accelerate due to ARRA incentives and penalties.

Asia Pacific’s EMR market is expected to grow at 7.6 percent.

Europe, Africa and Latin America will grow at 6.6 percent through 2013 driven by government incentives and a refresh of EMR systems.

3. Emerging markets may be a primary growth driver globally and may have the potential to implement innovative technologies, such as cloud-based EMR solutions.

Caduceus Software Systems closed at $0.0145 on Tuesday.