Benzinga's Microcap Movers for Wednesday May 30, 2012

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

Shares of Elevate (

) , the San Clemente, CA provider of data, voice, video, mobile and security solutions, rose 121% Wednesday on 42 times the average daily volume. Elevate reported Wednesday a 42% growth in daily sales volume for the two weeks following the May 15th launch of its 2012 door program. The company also posted a record sales week, beating the previous week (in November of 2011) by 23%. Elevate closed at $0.42 on Wednesday.

Shares of NCI

, the Reston, VA provider of information technology and professional services and solutions to U.S. Federal Government agencies, rose 28.24% Wednesday on 38 times the average daily volume. NCI announced Wednesday that it was an awardee on the $20B ceiling Chief Information Officers-Solutions and Partners Government Wide Acquisition Contract. The National Institutes of Health Information Technology Acquisition and Assessment Center posted the awards. The broad-based IT contract focuses on health and biomedical-related IT services, with a period of performance is 10 years, and representing new business for NCI. Under the contract, NCI is eligible to compete for task orders in ten functional areas including Healthcare IT Services, Chief Information Officer Support, Imaging, Outsourcing, IT Operations and Maintenance, Integration Services, Government Outsourcing, Critical Infrastructure Protection and Information Assurance, Digital Government, Enterprise Management Systems, and Software Development. CIO-SP3 is a successor to the highly successful CIO-SP2i and the Image World2 New Dimensions GWACs. NCI closed at $4.36 on Wednesday.

Shares of Zogenix

, the San Diego, CA pharmaceutical company, rose 15.72% Wednesday on average volume. Zogenix announced Wednesday that it has submitted an investigational new drug application to the U.S. Food & Drug Administration for Relday, which is a combination of Zogenix's DosePro needle-free, subcutaneous drug delivery system plus a proprietary, subcutaneous once-monthly formulation of risperidone for treating schizophrenia. In July 2011, Zogenix licensed from DURECT

exclusive global rights to develop and commercialize this proprietary formulation which utilizes DURECT's SABER depot technology. Initial clinical trials are currently planned to begin in the second half of the year, with results expected by year-end. Zogenix closed at $1.84 on Wednesday.