Morning Movers 10/01: CPRX, BIOF, CHTP, RAME, XRTX, IVD Higher; RVSN, CRAI, ASTI, ROC, PAG, UAUA Lower

October 1, 2009 10:39 AM EDT

Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX) 78.2% HIGHER; is a big winner today after the company said it will continue to develop CPP-109 (version of vigabatrin) for the treatment of cocaine and methamphetamine addiction following a in-depth review of the results from two trials. Click here for the full report.

Radvision (NASDAQ: RVSN) 35.2% LOWER; downgraded at RBC, Cantor Fitzgerald and Morgan Keegan. The downgrades follow news that Cisco will acquire Tandberg, a key competitor of RadVision.

Biofuel Energy (Nasdaq: BIOF) 32.4% HIGHER; today announced that its operating subsidiaries have amended their secured Credit Agreement with BNP Paribas and a group of lenders, settling all outstanding issues among the parties and lifting all defaults previously asserted by the lenders.

Chelsea Therapeutics International, Ltd. (Nasdaq: CHTP) 30.3% HIGHER; announced that continued analysis of previously reported results from Study 302, the first of two pivotal Phase III trials in Chelsea's registration program of Droxidopa for the treatment of symptomatic, neurogenic orthostatic hypotension (NOH), confirm statistically significant benefits across five clinically relevant assessment criteria that reflect symptomatic improvements and corroborate other supportive symptom data. The collective dataset also supports the exceptional safety and tolerability of Droxidopa.

RAM Energy Resources, Inc. (Nasdaq: RAME) 15.7% HIGHER; late in the day yesterday, the company announced that it had received a letter from The Nasdaq Stock Market advising that RAM had regained compliance with Nasdaq's minimum bid price listing requirements. The stock was also started at Market Outperform at Rodman & Renshaw.

CRA International Inc. (Nasdaq: CRAI) 15.6% LOWER; reports Q3 EPS of $0.31, ex-items, versus the analyst estimate of $0.48. Revenue for the quarter was $89.3 million, which compares to the estimate of $94.53 million.

Ascent Solar Technologies, Inc. (NASDAQ: ASTI) 14.9% LOWER; priced its previously announced public offering. Ascent Solar is offering 4.6 million shares of its common stock at $6.50 per share to the public. Net proceeds from the offering are expected to be used for expansion of Ascent Solar's rated production capacity and for general corporate purposes.

Xyratex Ltd. (Nasdaq: XRTX) 14.6% HIGHER; reports Q3 adj-EPS of $0.36, versus the analyst estimate of $0.14. Revenue for the quarter was $246.3 million, which compares to the estimate of $239.17 million.

IVAX Diagnostics, Inc. (AMEX: IVD) 14.6% HIGHER; announced that its U.S. subsidiary headquartered in Florida, Diamedix Corporation, has filed a 510(k) premarket submission with the U.S. FDA for its next -generation fully automated Enzyme-linked Immunosorbent Assay ("ELISA") system for autoimmune and infectious disease testing, named the Mago(R)4S. IVAX Diagnostics believes the new instrumentation will provide a flexible, efficient and cost-effective solution to today's high-performance laboratory demands. Click here for the full report.

Rockwood Holdings (NYSE: ROC) 14.1% LOWER; Credit Suisse downgrades from Outperform to Neutral. Price target $22.

Penske Automotive Group, Inc. (NYSE: PAG) 11.9% LOWER; erminated its discussions with General Motors Company to acquire the Saturn brand.

UAL Corporation (Nasdaq: UAUA) 11.4% LOWER; announced that it plans to offer 19 million shares of its common stock in an underwritten registered public offering.

Advanced Battery Technologies, Inc. (Nasdaq: ABAT) 9.7% LOWER; agreed to sell common stock and warrants to institutional investors in a registered direct offering. The closing of the offering is expected to take place on or about October 5, 2009, subject to the satisfaction of customary closing conditions. The investors have agreed to purchase 4,592,145 shares of common stock and 1,377,644 common stock purchase warrants. The warrants are exercisable at any time after the closing date, at an exercise price of $4.70 per share, and will expire in five years. The aggregate gross proceeds in the offering will be approximately $19,000,000.

Giant Interactive (NYSE: GA) 8.7% LOWER; sees Q3 revs RMB272M to RMB291M.

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