Morning Movers 3/22: IBNK, CXG, ARWR, CTIB Higher; PRWT, CTIC Lower
Integra Bank (Nasdaq: IBNK) 34.6% HIGHER; traders are buying the weakness today following a 26% drop on Friday of last week. Volume is very heavy.
CNX Gas Corporation (NYSE: CXG) 23.6% HIGHER; announced production results from its latest horizontal well targeting the Marcellus Shale, the GH2BCV well in central Greene County, PA. This well has been producing for 16 days, at an average production rate of 4.9 MMcf per day. The peak daily production rate was 5.7 MMcf, and the current daily production rate is 5.5 MMcf. The well was drilled with a horizontal lateral of 2,035 feet and was hydraulically fractured with a 7-stage frac. "Our latest horizontal Marcellus Shale well is achieving record company results," commented J. Brett Harvey, chief executive officer.
PremierWest Bancorp (Nasdaq: PRWT) 22.6% LOWER; has commenced the public offering portion of its previously announced rights offering. The Company is offering up to 39,260,540 shares of common stock to the public on a "best efforts" basis by its directors and executive officers. The public offering will terminate on the earlier of March 31, 2010, or the date on which we have accepted subscriptions for all shares remaining for purchase. We may extend the public offering for additional periods ending no later than April 30, 2010.
Arrowhead Research Corporation (NASDAQ: ARWR) 20% HIGHER; today announced that the clinical trial being conducted by majority-owned subsidiary, Calando Pharmaceuticals, Inc., has demonstrated systemic delivery of siRNA and the successful “silencing” of a widely recognized cancer gene via RNA interference (RNAi) in humans. This represents a breakthrough for Calando, its proprietary RONDEL delivery system, and the field of RNAi. It is thought to be the first ever demonstration in humans of targeted siRNA-containing nanoparticle delivery to tumors using systemic administration, delivery of functional siRNAs, and achievement of specific mRNA and protein reductions via RNAi. Thus far in the trial, no significant drug-related toxicities, known as serious adverse events, have been observed that may limit use. Data based on Calando’s study were published in the prestigious journal, Nature, on March 21, 2010 in an advance online edition.
CTI Industries Corp. (Nasdaq: CTIB) 13.8% HIGHER; reports Q4 EPS of $0.11, 2 cents better than the analyst estimate of $0.09. Revenue for the quarter was $10.74 million, which compares to the estimate of $10.96 million.
Cell Therapeutics, Inc. (NASDAQ: CTIC) 8.8% LOWER; Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Western District of Washington on behalf of a class consisting of all persons or entities who purchased the common stock of Cell Therapeutics between May 5, 2009 and February 8, 2010, inclusive.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
CNX Gas Corporation (NYSE: CXG) 23.6% HIGHER; announced production results from its latest horizontal well targeting the Marcellus Shale, the GH2BCV well in central Greene County, PA. This well has been producing for 16 days, at an average production rate of 4.9 MMcf per day. The peak daily production rate was 5.7 MMcf, and the current daily production rate is 5.5 MMcf. The well was drilled with a horizontal lateral of 2,035 feet and was hydraulically fractured with a 7-stage frac. "Our latest horizontal Marcellus Shale well is achieving record company results," commented J. Brett Harvey, chief executive officer.
PremierWest Bancorp (Nasdaq: PRWT) 22.6% LOWER; has commenced the public offering portion of its previously announced rights offering. The Company is offering up to 39,260,540 shares of common stock to the public on a "best efforts" basis by its directors and executive officers. The public offering will terminate on the earlier of March 31, 2010, or the date on which we have accepted subscriptions for all shares remaining for purchase. We may extend the public offering for additional periods ending no later than April 30, 2010.
Arrowhead Research Corporation (NASDAQ: ARWR) 20% HIGHER; today announced that the clinical trial being conducted by majority-owned subsidiary, Calando Pharmaceuticals, Inc., has demonstrated systemic delivery of siRNA and the successful “silencing” of a widely recognized cancer gene via RNA interference (RNAi) in humans. This represents a breakthrough for Calando, its proprietary RONDEL delivery system, and the field of RNAi. It is thought to be the first ever demonstration in humans of targeted siRNA-containing nanoparticle delivery to tumors using systemic administration, delivery of functional siRNAs, and achievement of specific mRNA and protein reductions via RNAi. Thus far in the trial, no significant drug-related toxicities, known as serious adverse events, have been observed that may limit use. Data based on Calando’s study were published in the prestigious journal, Nature, on March 21, 2010 in an advance online edition.
CTI Industries Corp. (Nasdaq: CTIB) 13.8% HIGHER; reports Q4 EPS of $0.11, 2 cents better than the analyst estimate of $0.09. Revenue for the quarter was $10.74 million, which compares to the estimate of $10.96 million.
Cell Therapeutics, Inc. (NASDAQ: CTIC) 8.8% LOWER; Notice is hereby given that Glancy Binkow & Goldberg LLP has filed a class action lawsuit in the United States District Court for the Western District of Washington on behalf of a class consisting of all persons or entities who purchased the common stock of Cell Therapeutics between May 5, 2009 and February 8, 2010, inclusive.
To get this report daily, visit http://www.streetinsider.com/entities/Morning+Movers.
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