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|14 Biotech Stocks Facing FDA Approval |
NEW YORK ( TheStreet) -- InfoLogix ( IFLG) was one of several stocks trading moving on above-average volume Monday, surging more than 70% on a deal with Samsung Electronics. InfoLogix announced a deal with Samsung to provide mobile managed services to North American customers. InfoLogix will provide "a cost-effective way for enterprises to design, deploy and manage a fully-integrated mobile infrastructure, including wireless monitoring and device management, help desk support, and end-user education and training." InfoLogix shares were rallying by $4.75, or 71.4%, to $11.40. Volume topped 4.9 million shares, compared to the 50-day average daily volume of 234,000, according to the Nasdaq. Elsewhere, ARCA biopharma ( ABIO) jumped by 72 cents, or 16.9%, to $4.99 after the company said it has reached a Special Protocol Assessment agreement, or SPA, with the FDA on the design of a trial to test its experimental treatment for heart failure.
The proposed trial protocol design, clinical endpoints and statistical analyses are acceptable to support regulatory approval, ARCA said. Volume topped 3.53 million shares, compared to the 50-day average daily volume of 2.55 million. Netlist ( NLST) shares also traded higher, rising by 37 cents, or 16.2%, to $2.65 after the memory module maker said it has reached a settlement in the misappropriation of trade secrets and breach of contract lawsuit against Texas Instruments ( TXN). The settlement resolves a dispute between the two companies concerning the use of proprietary memory modules and other related technology, Netlist said. Volume topped 1.11 million shares, compared to the 50-day average daily volume of 904,000. On the downside, Astrotech Corp. ( ASTC) slumped by 53 cents, or 19%, to $2.26 after the aerospace company posted fiscal third-quarter net loss of $600,000, 4 cents a share, on revenue of $6.6 million, swinging from a year-ago profit of $3.6 million, or 21 cents a share, on revenue of $11.8 million. Volume topped 666,000 shares, compared to the 50-day average daily volume of 264,000. -- Written by Robert Holmes in Boston. Check out all of Monday'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.