Morning Movers 6/29: PHC, RNN, DCGN, CYTR, ARTX Higher; UEC, RMTI, ENP, CTIC, OPEN Lower

June 29, 2009 9:14 AM EDT

PHC, Inc., d/b/a Pioneer Behavioral Health (AMEX: PHC) 92% HIGHER; announced that its Board of Directors has authorized the buyback of up to 1 million shares of the Company's Class A common stock on the open market over the course of its next fiscal year, which begins July 1, 2009.

Rexahn Pharmaceuticals, Inc. (Amex: RNN) 75% HIGHER; today announced that it has signed an exclusive collaboration and option for license agreement with a top 20 global pharmaceutical company for the development of RX-3117. Click here for the full report.

deCODE genetics (Nasdaq: DCGN) 64.4% HIGHER; continuing higher this week following news last week that it will be reinvested to the Nasdaq. Separately, the company discovered a gene linked to the risk of kidney stones and osteoporosis.

CytRx Corporation (NASDAQ: CYTR) 27.8% HIGHER; today provided a favorable progress update for its ongoing Phase 2 STAR-1 registration clinical trial to evaluate the efficacy and safety of orally administered tamibarotene as a third-line treatment for acute promyelocytic leukemia. Click here for the full report.

Uranium Energy Corp (AMEX: UEC) 16.9% LOWER; today announced that, effective after the close on June 26, 2009, the Company completed a private placement financing involving the sale of an aggregate of 9,099,834 units of the Company, together with 200,000 common shares, at a subscription price of $2.40 per Unit and Share, for gross proceeds of $22,319,601.

Arotech Corporation (NASDAQ: ARTX) 15% HIGHER; announced that its Armor Division has received a new order valued at $10 million for its David Light Armored Vehicle. This order includes an option on the part of the purchaser for a similar number of additional vehicles, and was received three weeks after the Company announced a separate $2 million order for Davids. With these orders, Arotech's backlog stands at $42 million.

Rockwell Medical Technologies, Inc. (Nasdaq: RMTI) 11.8% LOWER; giving back gains late Friday following news that it will be added to the Russell 2000, 2500, 3000 and Global Indexes.

TRW Automotive (NYSE: TRW) 11% HIGHER; JP Morgan upgrades from Neutral to Overweight and raised their price target to $15, following news the company amendeded its primary credit facility which the firm said makes TRW a "clear survivor."

Interoil Corp. (NYSE: IOC) 10.3% HIGHER; trading higher following reports from the South China Morning Post, as noted in Reuters, that China National Offshore Oil Corp (NYSE: CEO) and Petrochina (NYSE: PTR) are planning bids for a stake in the company's natural gas project that could be worth up to $500 million.

Encore Energy Partners LP (NYSE: ENP) 10% LOWER; announced today that it has entered into an agreement with Encore Acquisition Company (NYSE: EAC) to acquire oil and natural gas producing properties in the Rockies and the Permian Basin for $190 million in cash, subject to customary purchase price adjustments. Also issued production guidance for Q2. Click here for the full report.

Sinovac Biotech Ltd. (Amex: SVA) 9.9% HIGHER; has received a revised Drug Supplementary Application Approval for Panflu, Sinovac's pandemic influenza vaccine from the China State Food and Drug Administration (SFDA), based on the Phase IIb clinical trial. Click here for the full report.

Cell Therapeutics (Nasdaq: CTIC) 8.7% LOWER; trading lower for the same reason as Rockwell Medical Technologies.

OpenTable (Nasdaq: OPEN) 8.1% LOWER; see Rockwell.

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