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Patient Safety Technologies

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was sharply higher despite its announcement that it will need additional time to file its quarterly report with regulators. The company said it won't file its September quarter 10-Q within the five-day extension period because of recent corporate events and the hiring of new auditors. Patient Safety expects to file its 10-Q within the next two weeks. Shares of Patient Safety were up 21.8% to $2.68.

Immtech Pharmaceuticals

( IMM) surged after the Food and Drug Administration granted orphan drug status for Pafuramidine to treat pneumocystis jiroveci pneumonia. The condition is a common life-threatening opportunistic infection in HIV/AIDS patients and others with compromised immune systems. Immtech advanced 12.9% to $6.93.

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Cortex Pharmaceuticals

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was diving after it filed regulatory documents to sell up to $35 million of securities. The registration statement includes up to 104,000 shares to be offered by selling stockholders after they exercise warrants. Cortex was down 8% at $1.48.

China Finance Online

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sank after it said net income and revenue for the third quarter dropped year over year. Net revenue fell 4% to $1.73 million, and earnings slid 56% to $557,000. Earnings per American depositary share declined to 3 cents from 6 cents last year. Shares of China Finance were losing 8.5% to $4.83.