NEW YORK ( TheStreet) -- Shares of specialty pharma company KV Pharmaceutical ( KV-A) were zooming over 150% to $3.85 after U.S. regulators approved its drug, Makena, used to reduce the risk of preterm birth in women with a history of going into labor earlier than 37 weeks. Over 11 million shares were changing hands in afternoon trading. Shares of timeshare operator Silverleaf ( SVLF) soared 70% to $2.44 after hedge fund Cerberus Capital said it would buy the company for $94 million, a 75% premium to its previous day's closing price. Fremont, California-based Opnext ( OPXT) saw its share spurt 30% to $2.62 after it said its losses narrowed in the fiscal third quarter and issued an upbeat forecast for the fourth quarter.
Shares of Orexigen Therapeutics ( OREX) were once again attracting buying interest. The stock crashed over 70% earlier this week after regulators rejected its obesity drug. But shares were climbing 17% on Friday to $3.46. China MediaExpress ( CCME) denied a short-seller's allegations of fraud late Thursday. Muddy Waters Research, which has a short position in the stock, had accused the company of engaging in a massive pump and dump scheme. Shares were surging Friday by nearly 20% to $13.50 after plunging by 33% on Thursday. Shares of Silicon Image ( SIMG) jumped 15% to $8.87 after its results and first quarter forecasts beat estimates. Shares of Evergreen Energy ( EEE), Cirrus Logic ( CRUS) and video services provider Harmonic ( HLIT) were also prominent gainers in the small-cap sector on Friday trading. -- Written by Shanthi Bharatwaj in New York >To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: email@example.com.