Tuesday's Small-Cap Winners & Losers
California's AdStar (ADST) was climbing on word it will conduct a trial on Nokia's (NOK) S60 software platform for a service that can deliver advertising to mobile devices. AdStar shares were adding 19 cents, or 7.7%, to $2.67. Nokia was recently up 27 cents, or 1.2%, to $22.05.
Seattle Genetics (SGEN) rose after the Food and Drug Administration granted orphan drug status to its proposed treatments for acute myeloid leukemia and Hodgkin's disease. This means seven years of marketing exclusivity upon approval of the compounds, as well as various possible grants and tax credits during developmental stages. Shares were up 55 cents, or 6.3%, to $9.32.
The Knot (KNOT) fell after one-off items constituted most of its fourth-quarter income of $14.6 million, or 45 cents a share. The New York-based wedding Web site operator earned $1.5 million, or 6 cents a share, a year ago. Revenue leapt 70% year over year to $21.7 million. Shares were losing $4.36, or 14.5%, to $25.71
Osiris Therapeutics (OSIR) was lower after the Baltimore-based biotech reported the failure of its meniscus-regeneration adult-stem-cell formulation, Chondrogen, in phase I/II testing on patients who had just undergone surgery to have damaged tissue removed from the meniscus in their knees. The company noted that, while meniscus-tissue amounts didn't increase, there was an improvement in baseline cartilage and joint condition, and that the treatment was well tolerated. Shares were off $2.58, or 12.6%, to $17.97.Radyne (RADN) dropped on thinning fourth-quarter profits. The communications-equipment maker posted earnings of $3.6 million, or 19 cents a share, on slightly lower revenue of $36.3 million. Last year it had a profit of $4.3 million, or 24 cents a share. Radyne stock was trailing $1.19, or 11.2%, to $9.40. Palatin Technologies (PTN) said it will offer 13.75 million of its shares at $2 apiece, with net proceeds expected around $25.5 million. The offer will close on or around Feb. 15. Shares were down 23 cents, or 10%, to $2.06.
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