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Unusual 11 Mid-Day Movers 11/19: (IPCI) (SPEX) (EVOK) Higher; (ONVO) (LITB) (CRDS) Lower

November 19, 2013 12:51 PM EST Send to a Friend
Intellipharmaceutics International Inc. (Nasdaq: IPCI) 107.4% HIGHER; announced that the U.S. Food and Drug Administration ("FDA") has granted final approval of the Company's dexmethylphenidate hydrochloride extended-release capsules for the 15 and 30 mg strengths. Commercial sale of these strengths will be launched immediately by the Company's commercialization partner in the United States Par Pharmaceutical, Inc. As the first-filer for the drug product in the 15 mg strength, the Company will have 180 days of exclusivity of generic sales from the date of launch in the United States by its partner, Par.

Spherix Incorporated (Nasdaq: SPEX) 107.4% HIGHER; announced that its wholly owned subsidiary, CompuFill LLC, has entered into a settlement and license agreement with a leading technology company. This is the first settlement and license agreement for the CompuFill portfolio since Spherix acquired North South Holdings Inc. in September of 2013. Ongoing infringement enforcement continues as Spherix's model of patent monetization grows in both scope and size.

Evoke Pharma (Nasdaq: EVOK) 107.4% HIGHER; Aegis Capital initiated coverage on Evoke with a Buy and generous $60 price target. For more color on the analyst call, click here.

Horizon Pharma, Inc. (Nasdaq: HZNP) 34.0% HIGHER; announced that it has entered into an agreement to acquire from AstraZeneca AB (NYSE: AZN) the U.S. rights to VIMOVO (naproxen/esomeprazole magnesium) delayed-release tablets, further expanding Horizon's focus on key primary care physician targets in the U.S. VIMOVO is approved in the U.S. to relieve the signs and symptoms of osteoarthritis, rheumatoid arthritis and ankylosing spondylitis and to decrease the risk of stomach (gastric) ulcers in patients at risk of developing stomach ulcers from treatment with NSAIDs. AstraZeneca will retain ex-U.S. rights to VIMOVO.

Amarin Corp plc (Nasdaq: AMRN) 23.0% HIGHER; moving higher following news late Monday that CEO Joseph Zakrzewski bought 50,777 shares on November 18th at $1.54 apiece, bringing his stake to 226,047 shares. The stock is seeing extra juice Tuesday afternoon on positive investor sentiment.

Mediabistro Inc. (Nasdaq: MBIS) 22.6% HIGHER; making a strong move above the $2.50 price level today on volume. Shares hit a 52-week high at about $3 earlier.

Organovo (AMEX: ONVO) 21.8% LOWER; lower as GeoInvesting said it was short the company following an earlier SeekingAlpha blog post.

Lightinthebox Holding Co Ltd (NYSE: LITB) 20.6% LOWER; reported Q3 adjusted loss of $0.04 per ADS, $0.09 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $68.1 million versus the consensus estimate of $69.97 million. Sees Q4 2013 revenue of $75-77 million, versus the consensus of $83.1 million.

Crossroads Systems, Inc. (CRDS) 18.2% LOWER; lower today following a near-64 percent surge on Monday.

ChinaCache International (Nasdaq: CCIH) 16.2% LOWER; reported Q3 loss of $0.11 per ADS, versus $0.00 reported last year. Revenue for the quarter came in at $45 million, versus $33.3 million reported last year.

Atossa Genetics (Nasdaq: ATOS) 12.5% LOWER; filed a registration with the U.S. SEC to sell, from time to time, up to $40 million of Common Stock, Preferred Stock, Debt Securities, Warrants, or any combination thereof.

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