Small
cap stocks making big moves on Tuesday, May 13, 2014 (as of 4 pm EST)
Telik, Inc. (NASDAQ: TELK)
shares powered 19% higher to $1.49 on volume of more than 2.7 million shares
Tuesday after the clinical stage oncology drug development company said it
would merge with privately-held MabVax Therapeutics, Inc., to form a
publicly-traded company focused on the development of proprietary
immunotherapy-based products to diagnose and treat cancer.
As well,
shares of DXP Enterprises, Inc. (NASDAQ: DXPE) sank
39% to $66.13 on more than 2.6 million shares traded as the industrial products
and service distributor reported first-quarter net income that fell 12.2% to
$11.6 million.
Gold Resource
Corporation (NYSE
MKT: GORO), meanwhile, announced that it reduced its total cash costs
by 18% in its first-quarter compared with the same period last year, while
saying it is on track to meet its annual production outlook goal. Gold
Resource stock popped 22% to $4.28 following the announcement.
Finally,
Halozyme Therapeutics, Inc. (NASDAQ: HALO)
shares jumped 7% to $8.04 after the biopharmaceutical company said an
independent data-monitoring panel now supports patient enrollment in its
experimental pancreatic cancer treatment trial with proposed changes.
