Small
cap stocks making big moves on Friday, March 28, 2014 (as of 4 pm EST)
Idera Pharmaceuticals, Inc. (NASDAQ: IDRA)
shares jumped 18% to $4.57 on volume of more than 19.4 million shares Friday
after the company reported what it called “positive” top-line data from its
randomized, double-blind, placebo controlled Phase 2 trial of IMO-8400 in 32
patients with moderate-to-severe plaque psoriasis. Idera said the trial met its
primary objective as all treatments were well tolerated with no treatment
related discontinuation, serious adverse events or dose
reductions. Idera’s proprietary technology involves creating novel nucleic
acid therapeutics designed to inhibit over-activation of Toll-like Receptors
used for the treatment of genetically defined forms of B-cell lymphoma and for
autoimmune diseases with orphan indications.
As
well, shares of LipoScience, Inc. (NASDAQ: LPDX)
slid 20% to $3.03 as the provider of personalized diagnostics based on nuclear
magnetic resonance (NMR) technology announced the termination of its relationship
with Health Diagnostics Laboratory, Inc., one of its laboratory
customers. As a result, the company has lowered its first-quarter
2014 revenue guidance to approximately $11.8 million from $12.2 million.
InterCloud Systems, Inc. (NASDAQ: ICLD),
meanwhile, said it became aware last week of allegations made on a website
known as the Southern Investigative Reporting Foundation that the company
purportedly paid certain people to write articles and make certain alleged
misrepresentations about the company. It stated that these allegations are
wholly without merit.
“InterCloud
has made tremendous strides over the last 18 months. We have grown from little
more than $17 million in revenue in 2012, to over $80 million in pro-forma
revenues for the 12 months ending September 30, 2013. I take note of the fact
that since our public offering on October 31, 2013, every officer and
director of our Company has been subject to an underwriter lockup precluding
sales of our stock,” said InterCloud CEO Mark Munro. InterCloud stock popped 23% to $8.09 on more
than 2.4 million shares traded following the announcement.
