Thursday's Small-Cap Winners & Losers
Shares of TVI (TVIN) were sliding 16% after the company said it would have to restate downward its results for the third quarter. TVI, a maker of first-responder systems for medical personnel, police and fire departments, said it will need to eliminate around $550,000, or about 6.1%, of its reported revenue for the quarter.
Restated net income will likely be $973,000, or 3 cents a share, a decrease of $239,000, or 1 cent a share, from the numbers TVI previously reported. TVI was losing 47 cents to $2.43.
Auxilium Pharmaceuticals (AUXL) was dropping after it said it has suspended the dosing of patients taking part in phase III trials for AA4500, an experimental treatment for a condition called Dupuytren's contracture.
The company cited a problem with some of the freeze-dried material that was being used in the trials. Auxilium believes the issue was related to the freeze-drying process itself or the equipment that was used. Dupuytren's contracture is characterized by thickening of the tissues in the palm and fingers. The condition can cause the fingers to curl into the palm. Shares of Auxilium were down 8.7% to $14.57.
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