Morning Movers 10/07: RPRX, DDSS, GTA, CHIP, UCBH, BSMD Higher; MERX, AAI, APPY, SGMO, SIRI Lower

October 7, 2009 10:32 AM EDT

Repros Therapeutics Inc. (Nasdaq: RPRX) 142.7% HIGHER; announced today that a study of its oral investogational product, enclomiphene citrate (Androxal), raised sperm levels in men with secondary hypogonadism who were receiving testosterone replacement treatment.

Labopharm (Nasdaq: DDSS) 40% HIGHER; announced that it has been informed by Angelini, the manufacturer of the active pharmaceutical ingredient for the Company's novel trazodone formulation, that it has received a letter from the U.S. FDA stating that Angelini has appropriately addressed all deficiencies cited by the FDA following its inspection of the manufacturing facility in June and July of this year. The letter further states that Angelini's manufacturing facility has been classified as acceptable.

Golf Trust of America, Inc. (Amex: GTA) 30.4% HIGHER; today announced an Agreement and Plan of Merger with Pernix Therapeutics, Inc. The merger is to create a publicly-traded specialty pharmaceutical company positioned for continued profitable growth. Under the terms of the agreement, Pernix's stockholders will receive 41.8 million shares of GTA common stock, representing approximately 84% of the combined company on a fully diluted basis. GTA shareholders will own approximately 16% of the new company.

VeriChip Corporation (NASDAQ: CHIP) 27.4% HIGHER; and its development partner RECEPTORS LLC, received an exclusive license to RECEPTORS' Patent No. 7,504,364 titled "Methods of Making Arrays and Artificial Receptors" and Patent No. 7,469,076 "Sensors Employing Combinatorial Artificial Receptors," to use in conjunction with VeriChip's Patent No. 7,125,382 entitled "Embedded Bio-Sensor System," to develop an in vivo glucose-sensing RFID microchip.

Merix Corp. (Nasdaq: MERX) 26.8% LOWER; Viasystems Group, Inc. and Merix entered into a definitive agreement to merge their businesses. Under the terms, each Merix share will be converted into approximately 0.11 newly issued shares of Viasystems, subject to adjustment, which will be publicly traded on the NASDAQ upon completion of the transaction. Also reported a Q1 loss of $0.38, versus the analyst estimate of ($0.23). Revenue for the quarter was $57.8 million, which compares to the estimate of $60.05 million.

UCBH Holdings (Nasdaq: UCBH) 18% HIGHER; continuing higher today following news yesterday that China Minsheng is seeking to increase its stake in UCBH. The stock surged more than 75% yesterday.

BioSphere Medical, Inc. (NASDAQ: BSMD) 15.4% HIGHER; reported the publication of a study in the October 2009 issue of the Journal of Vascular Interventional Radiology in which the authors conclude that uterine artery embolization compares favorably to laparoscopic occlusion of uterine arteries in the treatment of uterine leiomyomas (fibroids) in cases where hysterectomy or myomectomy are not options.

AirTran Holdings, Inc. (NYSE: AAI) 15.3% LOWER; intends to offer, subject to market and other conditions, $75,000,000 aggregate principal amount of Convertible Senior Notes due 2016 in an underwritten registered public offering. AirTran intends to grant the underwriters of the notes offering a 30-day option to purchase an additional $11,250,000 aggregate principal amount of the notes, solely to cover over-allotments, if any.

AspenBio Pharma, Inc. (Nasdaq: APPY) 15% LOWER; today announced that it has priced a public offering of 4,482,609 shares of its common stock at $1.70 per share. The approximately $7.2 million of net proceeds will be used for product development, FDA 510(k) submission related activities, general corporate purposes, and working capital.

Acuity Brands, Inc. (NYSE: AYI) 11.2% HIGHER; reports Q4 $0.68, above the consensus of $0.57. Revenues fell 19% to $422.6 million, versus the consensus of $404.6 million. Comparable shipment volumes declined approximately 17 percent versus the year-ago period.

Vonage (NYSE: VG) 11% HIGHER; rallying on news that AT&T will enable VoIP applications on the iPhone. Also, Citi raised its price target on the stock from $0.50 to $1.50.

Sangamo BioSciences, Inc. (Nasdaq: SGMO) 10.3% LOWER; priced its offering of 3,000,000 shares. The company did not list the price the stock will be sold at.

Helen of Troy Limited (Nasdaq: HELE) 9.7% HIGHER; reports Q2 EPS of $0.51, above the consensus of $0.39. Revenues rose 5.6% to $162.2 million, versus the consensus of $159.2 million.

Sirius XM (Nasdaq: SIRI) 8.9% LOWER; falling today amid a somewhat negative report from the WSJ. More to come on that later.

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