Updated from 1:49 p.m. EDT
Targeted Genetics (TGEN) skyrocketed more than 66% Thursday after the biotech company swung to a fourth-quarter profit and sped past Street expectations. The Seattle-based company earned $808,000, or 8 cents a share, on revenue that more than doubled to $4 million. The company recorded a loss of $3.6 million, or 41 cents a share, in the year-ago period. The sole analyst's estimate called for a loss of 13 cents a share on $3.8 million in sales, according to Thomson Financial. Shares rose $1.70 to $4.27.
Misonix (MSON - Get Report) jumped after the Farmingdale, N.Y., company's Sonablate 500 product successfully removed cancerous tissue from prostate-cancer patients in a Britain-based study. In the study of the high-intensity ultrasound technology, test subjects exhibited 100% continence and potency in follow-up exams. Specifics on the trial weren't provided. Shares of Misonix rose 43 cents, or 7.4%, to $6.22.
Shares of etrials Worldwide (ETWC) gained after two unnamed European pharmaceutical companies agreed to etrials' clinical-trial software and services for wide-ranging clinical studies on depression and gaucher disease. Shares of the Morrisville, N.C.-based company climbed 33 cents, or 7.4%, to $4.82.KMG America (KMA) lost 43.8% after A.M. Best cut the life-insurer's outlook to negative from stable, despite reiterating its A- (or excellent) financial-strength rating. The Minneapolis-based company said this may prevent it from competing in certain markets, and that it's "no longer comfortable" with prior 2007 earnings guidance until it finishes a review of the full consequences. Shares were down $3.80 to $4.87.