Benzinga's Microcap Movers for Friday November 9, 2012
Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves:
Kips Bay Medical
Shares of Kips Bay Medical (NASDAQ: KIPS), the Minneapolis, MN medical device company, rose 33% Friday on 23 times average volume.
Kips Bay Medical announced Thursday that the FDA has granted approval with conditions of the company's Investigational Device Exemption to include four U.S. study sites in the “eMESH I” clinical feasibility trial of its eSVS Mesh. As previously announced, this study commenced in Bern, Switzerland on August 31, 2012.
In its approval, the FDA indicated that it will allow a staged enrollment within the United States starting with five patients. Kips Bay Medical will provide the six-month follow-up angiogram data of five U.S. patients or 10 outside the United States and U.S. patients combined, as well as additional data the FDA requested, for the FDA to review prior to approving the remaining 35 U.S. patients initially requested by the Company. There is, however, no assurance that the FDA will provide such approval.
Kips Bay Medical closed at $1.45 on Friday.
Global Resource Energy
Shares of Global Resource Energy (OTC: GBEN), the Las Vegas, NV clean energy company, rose 137% Friday on 44 times average volume.
Global Resource Energy affiliate, Kardings America, has been in discussions with Sunrise Senior Living (NYSE: SRZ) of McLean, Virginia. Sunrise is a 30 year old company with more than 300 separate facilities worldwide. Sunrise offers Assisted Living; Independent Living; Alzheimer's & Memory Care; Nursing & Rehabilitative Care; and Short-term Stays.
A proposal for replacing Sunrise's entire inventory is currently being prepared and will be ready for execution by the end of November 2012. The replacement schedule for Sunrise is estimated to be executed over a 24 month period and, provided all terms are agreed to, will commence in January 2013.
Global Resource Energy closed at $0.17 on Friday.
Shares of Hallwood Group (NYSE: HWG), the Dallas, TX textile products company, rose 68% Friday on 20 times average volume.
The Hallwood Group Incorporated announced Friday that on November 6, 2012, the Company received a proposal from Hallwood Financial Limited to acquire all of the outstanding shares of common stock of the Company that it does not beneficially own at a cash purchase price of $10.00 per share. Hallwood Financial Limited, a private limited company organized under the laws of the British Virgin Islands, is controlled by the Company's Chief Executive Officer and members of his family. Hallwood Financial Limited owns 1,001,575, or 65.7%, of the outstanding shares of the Company.
Hallwood Group closed at $9.46 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
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