Each morning, the exchanges come alive – and finding a company with news to back its movement allows MN1 to bring you updates each morning and afternoon to keep you on top of the small and micro-cap markets. The following companies released news late yesterday evening or early this morning:Shares of Neurologix Inc. (OTCBB: NRGX) climbed 25 cents, or 25 percent, to $1.25 on volume of 138,700 this morning, still climbing from yesterday’s news the company’s results from its gene therapy trial for Parkinson’s disease was published in the June 23, 2007, issue of “The Lancelot.” The report detailed the company’s study of direct gene transfer into a patient’s own brain cells for any adult neurodegenerative disease.
Arcadia Resources Inc. (AMEX: KAD) shares climbed 10 cents, up 8 percent, to $1.32 this morning. Yesterday the company announced it will be late filing its 10K for the fiscal year ended March 31, 2007. The company said it expects to file its Annual Report on or before June 29, 2007. In the press release, CEO Marvin Richardson said the company’s acquisition in February, transitions in its business model and other factors contributed to the late filing.
Shares of Kodiak Oil and Gas (AMEX: KOG) were up 33 cents, or 6 percent, to $6.03 on volume of 267,100 this morning after the company gave an update on its North Trail Federal #4-35 well in the Vermillion Basin in Wyoming. The company said it is “encouraged” by the gas found, and believes the amount of gas is “meaningful.” However, due to mechanical difficulties and an increase in weight of the drilling mud, the company said the well did not reach its projected length of 2,700 feet though completion efforts will follow.
Viragen Inc. (AMEX: VRA) shares climbed $0.004, up 10 percent to 4 cents on volume of 638,400 in early morning trading. The company announced yesterday afternoon it has halted its development of the OVA System, its avian transgenic technology applicable for the manufacture of therapeutic proteins. Additionally, the company said it will terminate research and license agreements with Roslin Institute and Oxford Biomedica. The company added that while its efforts have produced “truly excellent science,” the gap between research and commercialization is “too great.”