MRNA, Pacific Ethanol: Midday Volume Plays

NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Monday's session.

Oxygen Biotherapeutics (OXBT) jumped by $1.64, or 35.5%, to $6.28 after the company said it has begun marketing and selling its over-the-counter Dermacyte Oxygen skin care gel product. Oxygen Biotherapeutics also said it filed for a shelf offering of up to $75 million in common stock. Volume topped 922,000 shares, compared to the average daily volume of 19,000.

MDRNA (MRNA) surged by 31 cents, or 30.7%, to $1.32 after the biotech company said the U.S. Patent and Trademark Office has issued a "Notice of Allowance" for one of the company's patents covering methods for the cell-specific delivery of siRNAs. Volume topped 18.89 million shares, compared to the 50-day average daily volume of 1.37 million, according to the Nasdaq.

Servidyne (SERV) rallied by 94 cents, or 42.3%, to $3.16 after the energy efficiency products company said it has an agreement worth an estimated total revenue value of $8.7 million to improve the energy efficiency of approximately 600 stores and distribution centers of a major U.S. retailer. Volume topped 328,000 shares, compared to the 50-day average daily volume of 3,200.

Pacific Ethanol (PEIX) plummeted by 70 cents, or 35.2%, to $1.29 after the company's wholly-owned subsidiary, Pacific Ethanol Holding, and four wholly-owned ethanol production facilities filed for reorganization plan in bankruptcy court. Pacific Ethanol said it expects the subsidiaries to emerge from bankruptcy near the end of the second quarter in 2010. Volume topped 12.99 million shares, compared to the 50-day average daily volume of 4.12 million.

-- Written by Robert Holmes in Boston.

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