NEW YORK (TheStreet) -- Wave Systems (WAVX) was one of several stocks trading near $5 poised to move on above-average volume Tuesday after the hardware-based digital-security company reported quarterly results.
Wave Systems said late Monday that it had a first-quarter net loss of a penny a share, compared to a year-ago loss of 2 cents a share. Revenue jumped 45% from a year ago to $5.86 million. Separately, the company said it has acquired two patents related to security subsystems for storage devices for $1.1 million in cash.
Wave Systems shares finished Monday at $3.42 and were up nearly 3% in the after-market session. The 50-day average daily share volume for Wave Systems is 842,000, according to the Nasdaq.
NexMed (NEXM) shares were indicted higher after the company announced "encouraging" data from a pre-clinical study examining the subcutaneous delivery of rituximab, a therapeutic antibody that interferes with the development of cancer cells.Using its proprietary NexACT drug delivery technology, NexMed said that animals receiving subcutaneous injections of rituximab in the study demonstrated a 46% enhancement in bioavailability over rituximab alone, which the company argues may open the door to improving the delivery of other therapeutic antibodies. NexMed shares closed Monday at 40 cents and rose more than 10% in late trading. The 50-day average daily volume for NexMed is 3.9 million.
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