Small Cap News Movers for 3/1/10

Astellas Pharma Inc. announced it will commence a tender offer to acquire all outstanding shares of common stock of OSI Pharmaceuticals (NASDAQ: OSIP) for $52.00 per share in cash, or an aggregate of approximately $3.5 billion on a fully diluted basis. The all-cash offer, set forth in Astellas’ letter to OSI delivered this morning, represents a significant premium of over 40% on the closing price of OSI’s common stock of $37.02 per share on February 26, 2010, a 53% premium to its three-month average of $34.01 per share, and a 31% premium to its 52-week high of $39.66 per share. The stock closed at $56.25, up 51.94%, on 36,193,830 traded shares.

NuMobile, Inc. (OTCBB: NUBL) announced it is scheduled to be featured in a milestone strategy Webcast this Thursday, March 4th. The Webcast is expected to review the Company’s smartphone and mobile computing solutions and price per share performance potential from a milestone investment perspective. The Webcast agenda also includes a discussion of the NewMarket Technology, Inc. (PINKSHEETS: NWMT) Greenfield Partnership Program and a recent analyst report ‘buy’ rating of NewMarket Technology. The stock closed at $0.0115, up 167.44%, on 77,990,386 traded shares.

Uroplasty, Inc. (NYSE Amex: UPI) highlighted results of the SUmiT Trial of its Urgent® PC Neuromodulation System that will be published in the April 2010 print edition of THE JOURNAL OF UROLOGY® and is now available online. The Urgent PC system is a proprietary, minimally invasive, percutaneous tibial nerve stimulation (PTNS) device designed for office-based treatment of urinary urgency, urinary frequency and urge incontinence, symptoms often associated with overactive bladder (OAB). The stock closed at $1.83, up 6.40%, on 212,355 traded shares.

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