NEW YORK (TheStreet) -- Dynavax was among several stocks trading near $5poised to surge on heavy volume after clinical data showed its experimental hepatitis B vaccine showed promise in treating chronic kidney disease.
Dynavax said Phase II trials "demonstrate HEPLISAV 's immunogenicity and rapid protection in patients with chronic kidney disease." Dynavax said results showed that two doses of HEPLISAV protected 100% of the dialysis and pre-dialysis patients measured at week 24 in the Phase II study.
After closing at $1.45 Wednesday, Dynavax shares rallied by 35 cents, or 24.1%, to $1.80 in Thursday's premarket session. The 50-day average daily volume for Dynavax is 326,000, according to the Nasdaq.
CompuCredit Holdings (CCRT) was also indicated to trade higher on increased volume after the financial services said it will hold a modified Dutch auction tender offer for both debt and stock. CompuCredit said the offer is to purchase up to $100 million of its outstanding 3.625% convertible senior notes, as well as shares of outstanding common stock at a purchase price of $7 per share if there is money left over from the note purchase.CompuCredit shares closed at $5.56 Wednesday and rose nearly 17% in the after-market session to $6.50. The 50-day average daily volume for CompuCredit is 100,000. On the other hand, Santarus (SNTS) should lose ground on above-average volume after the U.S. District Court for the District of Delaware ruled that five patents covering Santarus' prescription products are invalid due to obviousness. Par Pharmaceutical (PRX) brought the lawsuit against Santarus. Santarus shares were plummeting by $2.28, or 42.5%, to $3.08 in Thursday's premarket session. The 50-day average daily volume for Santarus is 437,000. The Princton Review (REVU) was also poised to trade lower after the company announced an offering of 14 million common shares. After finishing Wednesday's session at $3.47, the stock fell 6.9% to $3.23 in late trading. The 50-day average daily volume for the Princeton Review is 63,000. -- Written by Robert Holmes in Boston. Check out all of Thursday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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