Small
cap stocks making big moves on Monday, January 6, 2014 (as of 12 pm EST)
eOn Communications Corporation (NASDAQ: EONC) shares surged
33% to $3.70 on volume of more than 1.4 million shares Monday after the
intellectual property acquisition and licensing company said it has acquired
approximately 500 patent assets covering key technologies in 3G and 4G
communications from Panasonic Corporation. The agreement increases
the company’s patent portfolio to more than 660.
As well, shares of Brightcove Inc. (NASDAQ: BCOV) sank 21%
to $11.48 on more than 2.8 million shares traded as the provider of cloud
services for video announced that it has entered into a definitive agreement to
acquire substantially all the assets of Unicorn Media. Under the terms of the
agreement, the purchase price consists of approximately 2.9 million shares of
Brightcove stock, based on a price of $14.00 per share, and approximately $9.0
million of cash. The transaction is valued at approximately $49 million.
Oxygen Biotherapeutics, Inc. (NASDAQ: OXBT), meanwhile,
reported key details of its Phase 3 trial protocol for levosimendan. The
trial will be conducted in approximately 50 major cardiac surgery centers in
North America, enrolling patients undergoing coronary artery bypass grafts
and/or mitral valve surgery who are at risk for developing low cardiac output
syndrome. Levosimendan is a calcium sensitizer developed for intra-venous use
in hospitalized patients with acutely decompensated heart failure. Oxygen
Biotherapeutics stock shot up 31% to $6.23 following the announcement.
Finally, Peregrine Pharmaceuticals, Inc.
(NASDAQ: PPHM) shares climbed 22% to $1.77 after the biopharmaceutical
firm announced that it has received Fast Track designation by the U.S. Food and
Drug Administration (FDA) for its lead investigational immunotherapy
bavituximab for the potential treatment of second-line non-small cell lung
cancer.
