NEW YORK ( TheStreet) -- Borders ( BGP) was in the limelight among small-cap stocks Friday, shooting up 14% to 92 cents on reports that the company was close to securing financing. .

In December, the book retailer said it would delay payments to publishers and distributors, triggering concerns about its financial health. Hedge fund manager Bill Ackman offered to finance Borders' bid of $963 million for Barnes & Noble ( BKS).

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Over 4 million shares were changing hands on Friday morning trading.

Cumberland Pharmaceuticals ( CPIX) was among the top gainers in the small-cap category, bucking the trend in the healthcare space. The stock was surging 24.5% to $7.06 after it received regulatory approval for a new formulation of its Acetadote injection used to treat acetaminophen poisoning.

Chip-equipment maker Nanometrics ( NANO) was zooming 21% to $16.36 after Piper Jaffrey issued a positive outlook for the company amid a super cycle in chip equipment.

Shares of Biodel ( BIOD) were soaring for the second consecutive day, rising 12% to $2.80 on investor optimism about the prospects for the company's insulin drug, Linjeta. The stock gained 28% on Thursday, as the company made a presentation at the JPMorgan Healthcare Conference. Volumes were higher than average at 3.5 million shares.

Shares of Corinithian Colleges ( COCO) gained 8% to $5.13 after RBC Markets upgraded the stock by two notches to outperform. The analyst said the return of its former CEO Jack Massimino would help turnaround the company.

Other gainers include Alexza Pharmaceuticals ( ALXA), up 20% to $1.59, Plug Power ( PLUG), up 18% to $3.70 and Majesco Entertainment ( COOL), up 12% at $1.28.

--Written by Shanthi Bharatwaj in New York

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