Small Cap Stocks Beating The Morning’s Down Trend: NEXM, TGEN - sourced PicksThatMove.com
NexMed, Inc., Targeted Genetics Corporation
Calgary, AB 11/24/2009 05:03 PM GMT (TransWorldNews)
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Small Cap Stocks Beating The Morning’s Down Trend: NEXM, TGEN
The hot stock information of the day includes: NEXM, TGEN
Stocks slide this morning on news the US economy is growing slower than estimated. The humble 2.8% rate of growth was blamed primarily on imports and a decline in investments in non-residential structures, which tumbled 15.1%.
NexMed, Inc. (NASDAQ:NEXM) jumped 63.32% up to $0.323 on news NexMed, Inc will acquire privately owned research organization Bio-Quant Inc . Bio-Quant Inc conducts in vitro and in vivo contract drug discovery and pre-clinical development services in San Diego, California, specializing in oncology, inflammation, immunology, and metabolic diseases. The acquisition provides for NexMed's issuance of 4,000,000 unregistered shares of its common stock to the Bio-Quant shareholders and a promissory note in the amount of approximately $12.1 million due on December 31, 2010. Upon closing of the transaction Bio-Quant will become a wholly-owned subsidiary of NexMed. Headquartered in East Windsor, New Jersey, NexMed, Inc. develops bio-enhancement drug delivery technology known as NexACT, which enables an active drug to be better absorbed through the skin.
Targeted Genetics Corporation (NASDAQ:TGEN) rose 16.67% up to $0.280 on no news. Based in Seattle, Washington, Targeted Genetics Corporation is a clinical-stage biotech company which researches and develops gene therapy products and technologies for treating various diseases. The company currently has clinical trials for vaccine and treatment candidates for HIV, heart failure, inflammatory arthritis, rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis and amyotrophic lateral sclerosis.
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