Small
cap stocks making big moves on Monday, October 27, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
NQ Mobile Inc. (NYSE: NQ)
shares jumped 6% to $9.46 on Monday after the software company filed its
annual 20-F for the full year 2013 and regained full compliance. NQ Mobile said
that its audited financial results “contain no qualification and no
adverse findings and are consistent with the company’s previous financial
disclosures and reports.” NQ Mobile’s audit committee concluded there was
no evidence that the company tried “to delete any documents relevant to
the Special Committee’s investigation.”
As well,
shares of Chembio Diagnostics, Inc.
(NASDAQ:
CEMI) climbed 19% to $4.73 as the company, which specializes in the
manufacture and marketing of rapid point-of-care diagnostics test, said it has
entered into an exclusive agreement with Integrated BioTherapeutics to develop
diagnostics tests for Ebola and Febrile illness.
Pain Therapeutics Inc. (NASDAQ: PTIE)
stock, meanwhile, plunged 53% to $1.95. Shares are plunging today after
pharmaceutical giant Pfizer Inc. reported that it is choosing to end its
agreement with Pain Therapeutics Inc. that was supposed to commercialize and
develop an investigational extended-release version of oxycodone. Pfizer has
reported to return all rights to the investigational drug Remoxy to Pain
Therapeutics.
Finally,
Serepta Therapeutics, Inc. (NASDAQ: SRPT)
shares sank 33% to $15.91 after the company announced that regulators would
require more data about its coming muscular dystrophy treatment (eteplirsen)
before considering approving the drug. Eteplirsen is designed to treat Duchenne
muscular dystrophy, which is a fatal genetic disease that causes increasing
muscle weakness.
