|More on Biotech 14 Biotech Stocks Facing FDA Approval|
NEW YORK ( TheStreet) -- AtriCure ( ATRC) was one of several stocks trading near $5 poised to move on above-average volume Tuesday after the company's heart device received regulatory clearance in the U.S. AtriCure said the Food and Drug Administration gave clearance to its AtriClip system, which is designed to be implanted from the outside of the heart, avoiding contact with circulating blood and eliminating blood flow between the left atrial appendage and the atria. AtriCure said the initial launch of the AtriClip system in the U.S. is expected to begin later this month with full commercial release planned during the third quarter of 2010. AtriCure shares jumped by 92 cents, or 17.6%, to $6.15 in the premarket session. The 50-day average daily volume for AtriCure is 27,000, according to the Nasdaq. Elsewhere, Synergetics USA ( SURG) rose by 18 cents, or 6.6%, to $2.91 in the premarket session after the medical device company posted third-quarter earnings of 13 cents a share, which is up from a profit of 3 cents a share in the year-ago period. The 50-day average daily volume for Synergetics is 135,000.
On the downside, Trubion Pharmaceuticals ( TRBN) dropped by 41 cents, or 11.2%, to $3.25 in the premarket session after Pfizer ( PFE) decided to discontinue development of TRU-015, a rheumatoid arthritis drug developed as part of a collaboration. The decision came as the drug failed to meet its goal in a mid-stage clinical trial. Pfizer did confirm that it would continue to develop SBI-087, a different rheumatoid arthritis drug candidate also in Phase 2 clinical evaluation. The 50-day average daily volume for Trubion is 22,000. RAM Energy ( RAM) shares will likely see an increase in trading volume after the company said management has been authorized to review strategic alternatives for the company, including a sale, refinancing or recapitalization. RAM Energy shares closed Monday at $1.77, and the 50-day average daily volume for RAM is 189,000. Meanwhile, Bakers Footwear ( BKRS) should also see a bump in trading volume after the company said it has not achieved the minimum level of shareholders' equity required for continued listing on the Nasdaq Capital Mark, and it expects to be delisted as soon as this week. Bakers said it is working with market makers to have its stock listed on the OTC Bulletin Board or the Pink Sheets.
The announcement came as Bakers Footwear posted a first-quarter loss of 47 cents a share on sales of $43.5 million. Shares rose nearly 14% to $1.96 Monday ahead of the earnings release. The 50-day average daily volume for Bakers Footwear is 37,000. -- Written by Robert Holmes in Boston. Check out all of Tuesday'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.