OXiGene: Small-Cap Winners

NEW YORK ( TheStreet) -- Small-caps were out of favor on Thursday, but a select few stocks managed to grab investors' attention.

Bioanalytical Systems ( BASI), which provides contract development services and research equipment to pharmaceutical, medical research, and biotechnology companies, was up 21% at $2.25 after it reported a turnaround in second-quarter profit. For the second quarter ended March 31, income came in at $483,000, or 10 cents a share, versus a loss of $1.2 million, or 25 cents per share. Revenue increased 21% to $8.4 million compared to $6.9 million for the second quarter of fiscal 2010.

Shares of Discovery Laboratories ( DSCO) was shooting up 19% to $2.60 on heightened volumes after its losses narrowed to $3.8 million or 21 cents per share from $6.05 million or 66 cents per share.

OXiGene ( OXGN) was a notable gainer, rising 14% to $5.57, with volumes soaring to more than 5 million shares in mid-morning trading. The biotech company announced Thursday morning that it had commenced phase 1 trials of an anticancer compound used the treatment of patients with acute myelogenous Leukemia.

The stock has been topping the small-cap charts in recent trading sessions, gaining 56% since Friday's close.

Cloud Peak Energy ( CLD), the third-largest U.S. coal producer, announced its successful $297.7 million bid for the West Antelope II North Coal Tract, which has an estimated 350 million tons of mineable coal, according to the Bureau of Land Management.

Insurance company MBIA ( MBI) was up 5% at $10.08. The company recently reported a narrower loss, with adjusted results swinging to a profit as the company slashed expenses.

-- 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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