Spherix ( SPEX) surged 54% after the company said an agreement for a multinational late-stage clinical trial of its Naturlose as a type 2 diabetes drug is being completed. Preliminary work is under way, and patient recruitment is expected to begin before the end of the year. Spherix has a unit that provides contact center information and reservations services and another involved in product development in the health, medicine and environmental fields. Shares of Spherix were up $1.12 to $3.20. Scolr Pharma ( DDD) was dropping after the company released its financial results for fiscal 2005. Scolr lost $8.9 million, or 26 cents a share, last year, compared with a restated loss of $5.7 million and 19 cents a share for fiscal 2004. Royalties from its dietary supplement products for 2005 totaled $635,407, an increase of 44% from the previous year. Shares of Scolr were losing 62 cents, or 9.8%, to $5.68. RightNow Technologies ( RNOW) jumped after the software company was upgraded by First Albany to strong buy from buy. Separately, the company announced that it had signed its 100th higher-education customer, Australia's Edith Cowan University. Shares gained $1.69, or 11.3%, to $16.62. ICT Group ( ICTG) stumbled after the customer-management software concern said it filed regulatory documents for a proposed public offering of 3 million shares. The company said it will sell 2 million shares and stockholders will sell 1 million shares. Underwriters have the option to buy an additional 440,000 shares to cover overallotments. Shares of ICT were sinking $3.10, or 11.6%, to $23.60. Harmonic ( HLIT) caught a bid following word that the digital-video systems company was upgraded by Kaufman Bros. to buy from hold. Shares gained 45 cents, or 7.5%, to $6.44. ChemGenex Pharmaceuticals ( CXSP) was climbing after the company announced the publication of preclinical research supporting the expansion of its development of Ceflatonin to include the treatment of acute myeloid leukemia patients in addition to those with chronic myeloid leukemia and myelodysplastic syndrome.
The paper appears in the March issue of Molecular Cancer Therapeutics. Ceflatonin induces programmed cell death in myeloid cells and inhibits blood vessel formation. The drug-development company's shares were higher by 68 cents, or 10.1%, to $7.44. Trading volume was light. Flexible Solutions ( FSI) saw its shares bolt higher on word that Mexico has approved the use of Magnet, a product made by the company's NanoChem unit, for agricultural purposes in the country. The company also said its biodegradable scale-inhibitor has been chosen for a new oilfield in the North Sea, which will lead to added revenue of roughly $240,000 annually beginning in the second quarter. The stock was up 50 cents, or 17.2%, to $3.40.