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 some sort of news late yesterday evening or early this morning:
Biomira Inc. (Nasdaq: BIOM) shares climbed 14 cents, nearly 15 percent, to $1.10 today, just after the market’s open. Today the company announced it signed an amended and restated supply agreement related to Stimuvax, the company’s investigational therapeutic cancer vaccine. The amendments alter an original agreement signed in 2001 with Merck, based on a letter of intent signed in January 2006. Per the agreement, Merck will have global marketing rights and full responsibility in manufacturing Stimuvax.
AXM Pharma (Pink Sheets: AXMP) announced this morning it has entered into an agreement with Beida Wei Ming Bioproduct Co., a subsidiary of Beida Wei Ming Bio-Engineering Group Inc. Per the agreement, Beida Wei will invest $2.65 million in AXM Pharma through convertible debt financing at $1.25 per share. Proceeds will be invested in production, product development, and for “general corporate purposes.” AXM has already received the initial $200,000 tranche. In response to the news, AXM shares rose 3 cents, or 27 percent, to 14 cents in early Wednesday trading.
Microtek Medical Holdings (Nasdaq: MTMD) shares climbed $1.31 this morning, moving nearly 30 percent to $6.00 shortly after the opening bell. The company announced yesterday afternoon it will merge with cleaning and pest control services company, Ecolab Inc. (NYSE: ECL). Ecolab will acquire Microtek for roughly $274.1 million. Per the agreement, Microtek shareholders will receive $6.30 for each share of outstanding common stock at the time of the transaction.
Shares of SourceForge Inc. (Nasdaq: LNUX) are up 32 cents, nearly 10 percent, to $3.54, shortly after the company announced it will release its fourth quarter and fiscal financial results for the period ended July 31, 2007. The release is set for Tuesday, August 28, at the end of the trading day; a conference call is set for 5 p.m. ET.
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