Friday's Small-Cap Winners & Losers
Inspire Pharma (ISPH) gained on word it will take over commercializing InSite Vision's (ISV) eye-infection drug, AzaSite, in the U.S. and Canada. Inspire shares were rising 38 cents, or 5.2%, to $7.75.
LookSmart (LOOK) shares were sliding on soft guidance. The Internet search-engine operator said 2007 revenue will grow by 20% to 25% from 2006's top line of $48.8 million, meaning a range between $58.6 million and $61 million. Two analysts are seeking sales of $70.2 million. Fourth-quarter revenue, at $15 million, was slightly under the $15.5 million target. Shares were down 90 cents, or 16.7%, to $4.48.
Canada's Westaim (WEDX) was plunging after the firm -- which owns companies dealing in flat-panel display products, wound-care products and pharmaceuticals -- widened its losses from continuing operations and saw slightly lower revenue than it did last year. Shares were sinking 20 cents, or 15.9%, to $1.06.
Sonic Solutions (SNIC) was lower after the business-software company said it will need to restate downward its prior financials for "material" noncash stock-option charges. It can't yet provide any monetary specifics. The Novato, Calif., company also said revenue for the quarter ended Dec. 31 totaled $39.1 million, which barely misses the $40.9 million mean projection. Shares were down $1.96, or 12.2%, to $14.07.Pacificnet (PACT) sank on word of management changes. Joseph Levinson, who was appointed chief financial officer less than six months ago, is being replaced by Daniel Lui, formerly of KPMG and PricewaterhouseCoopers. The China-based communications-technology company was slumping by 43 cents, or 6.6%, to $6.12.
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