DepoMed, NPS Pharma: Small-Cap Winners

NEW YORK ( TheStreet) -- Several small-cap pharmaceutical stocks were in the limelight on Monday morning, with good news from regulatory approvals to successful clinical trials boosting buying.

DepoMed ( DEPO) saw its shares skyrocket Monday morning after it announced late Friday that it had received regulatory approval to market its Gralise one-daily tablets for the treatment of post-herpetic neuralgia, also known as shingles. Gralise also received orphan drug status, which gives it seven years of marketing exclusivity.

Shares were soaring 30% to $8.13 on Monday morning.

NPS Pharmaceuticals ( NPSP) announced Monday that it had seen positive results from a pivotal phase III study of its experimental drug Gattex. Patients with short bowel syndrome were able to significantly reduce intravenous feeding following treatment. Shares were surging 25% to $9.49.

Orexigen Therapeutics ( OREX) shares were rising 12% to $9.33 on expectations that it will receive a regulatory approval for its obesity drug, Contrave.

Shares of BankAtlantic Bancorp ( BBX) were up 8.8% to $1.11 after it said that it will sell 19 of its branches under its Tampa-St.Petersburg franchise to PNC Bank ( PNC) in order to focus on its primary footprint of 79 branches in South East Florida.

The stock of International Coal Group ( ICO) was rising on speculation that it will be the next takeover target after Alpha Natural Resources ( ANR) agreed to takeover Massey Energy ( MEE) for $7.1 billion. Shares were up 3% at $9.14.

Shares of RiteAid ( RAD) were up 3.6% to $1.26, recovering Friday's losses. The company recently announced better-than-expected same store sales of 1.1% in January.

--Written by Shanthi Bharatwaj in New York

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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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