Small
cap stocks making big moves on Wednesday, September 24, 2014 (as of 4 pm EST),
as reported by Sean Mason, SmallCapPower.com
Lipocine Inc. (NASDAQ: LPCN)
shares powered 39% higher to $7.23 on volume of more than 7.5 million shares
Wednesday after the specialty pharmaceutical company announced what it called “positive
top-line efficacy results” from its ongoing Study of Oral Androgen Replacement pivotal
Phase 3 clinical study, evaluating efficacy and safety of LPCN 1021, an Oral
Testosterone product for hypogonadal men with low testosterone.
As well,
shares of Echo Therapeutics, Inc. (NASDAQ: ECTE)
sank 35% to $0.75 on more than 2.3 million shares traded as the medical device firm
said it believes that its current liquidity is insufficient to fund its needs
beyond September 30, 2014, and it has suspended its product development,
research, manufacturing and clinical programs and operations to conserve its
liquidity and capital resources.
Electromed, Inc. (NYSE MKT:
ELMD), meanwhile, reported fourth-quarter net revenue that rose 14.8% to
$4.6 million, while net income for the period was $0.04 a share compared with a
net loss of $0.05 a share during the same quarter last year. Electromed stock popped
27% to $1.77 following the announcement.
Finally,
Ocean Bio-Chem, Inc. (NASDAQ: OBCI)
shares jumped 18% to $3.58 after the manufacturer of marine recreational products
announced the acquisition of its JV partner’s interest in OdorStar Technology,
LLC. Financial terms were not disclosed.
