Small
cap stocks making big moves on Tuesday, July 15, 2014 (as of 4 pm EST)
Codexis, Inc. (NASDAQ: CDXS)
shares surged 44% to $2.03 on volume of more than 5.2 million shares Tuesday
after the developer of biocatalysts for the pharmaceutical and fine chemical
industries announced the signing of a platform technology license agreement with
GlaxoSmithKline. Codexis is eligible to receive up to $25 million over
approximately the next two years, $6 million of which will be paid upfront
shortly after signing. The company also has the potential to receive numerous
additional milestone payments that range from $5.75 million to $38.5 million
per project based on GSK’s successful application of the licensed
technology.
As well,
shares of Ocean Power Technologies Inc.
(NASDAQ:
OPTT) slid 23% to $1.18 on more than 2.2 million shares traded as the
renewable energy company said it
is canceling plans to build a renewable-energy project off the coast of
Australia that’s not “commercially viable.”
Plug Power Inc. (NASDAQ: PLUG)
stock, meanwhile, moved up 16% to $4.85 after FBR Capital Markets initiated
coverage of the company’s shares with an “outperform” rating, saying the
fuel-cell provider enjoys “multiple catalysts” for growth.
Finally,
La Jolla Pharmaceutical Company (NASDAQ: LJPC)
shares jumped 11% to $12.09 after the therapeutics developer reported positive
pre-clinical data for LJPC-1010 in non-alcoholic steatohepatitis (NASH).
