Small
cap stocks making big moves on Friday, May 30, 2014 (as of 4 pm EST)
Retrophin, Inc. (NASDAQ: RTRX)
shares climbed 14% to $14.62 on volume of more than 3.4 million shares Friday
after the pharmaceutical company said it has signed a binding commitment on a
$40 million senior secured term loan facility, provided by Athyrium Capital
Management. As well, it plans to sell $40 million of 4.5% Senior
Convertible Notes due 2019 to a group of institutional investors at a premium
to Retrophin’s current market price.
As well,
shares of Infoblox (NASDAQ: BLOX)
sank 37% to $12.96 on more than 28.8 million shares traded as the automated
network control company provided an earnings and revenue outlook for the
upcoming quarter that came in well below analyst expectations and announced
that its President and CEO is stepping down.
NQ Mobile Inc. (NYSE: NQ),
meanwhile, reported that it expects second-quarter sales of as much as $84
million, surpassing the Wall Street consensus forecast of $79 million. The
company also said it is selling a minority interest in its FL Mobile gaming
subsidiary for about $25 million. NQ Mobile stock moved up 12% to $7.59.
Finally,
DARA BioSciences Inc. (NASDAQ: DARA)
shares fell 26% to $1.19 after the oncology supportive care specialty
pharmaceutical firm announced the pricing of a $12.5 million public offering at
$1.11 a share.
