Wednesday's Small-Cap Winners & Losers

On the flip side, Inovio Biomedical INO recouped some of Tuesday's losses on word of positive preclinical results for DNA vaccines using its electroporation technology. San Diego-based Inovio, along with Wyeth WYE and other partners, found the technology improved immune responses against malaria, HIV and hepatitis C vs. traditional vaccine-delivery methods. Shares surged 17.3% to $2.58, a move that partially recouped losses from disappointing news out of a separate late-phase study yesterday. Wyeth recently edged down to $57.46.

Also on the winning side today was Starent Networks STAR, which jumped 17.3% following its initial public offering. The Tewksbury, Mass., purveyor of wireless-communications products priced some 10.5 million shares at $12 apiece, along with a 30-day underwriters' option for another 1.6 million shares to cover any overallotments.

Elsewhere, Ivanhoe Energy IVAN leapt 11.4% to $2.05 in very active trading after the Canada-based company finished testing on its heavy-oil-upgrading technology, having successfully demonstrated a "recycle" configuration that produces a "high quality" product with further reduction of viscosity. Ivanhoe expects to find a big market for this configuration in western Canada's Athabasca oilsands. The company also says it's now positioned to build full-scale commercial HTL facilities.

Finally, New Jersey-based Russ Berrie RUS, which makes baby and gift products, climbed 5.4% to $18.67 after rejecting an $18-per-share takeout bid by an unnamed entity. The company may still sell itself or a division, however, and says it has already received some interest after preliminarily trotting out its gift segment.