Small Cap News Movers for 6/8/09

Angiotech Pharmaceuticals, Inc. (NASDAQ: ANPI) announced this morning that the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for the Option(TM) Inferior Vena Cava (IVC) Filter in the United States, for use in both permanent and retrievable indications. The company holds exclusive worldwide rights to market and distribute the Option IVC Filter, which it obtained in a license agreement with privately held Rex Medical, LP (Rex Medical). The market for IVC filters is predicted to grow to $300 million by 2012. The stock closed at $2.37, up 39.41%, on 28,520,799 traded shares.

 

MFRI, Inc. (NASDAQ: MFRI) reported record sales and earnings for the quarter ended April 30, 2009. Net sales totaled $68.0 million, up 2.4% from $66.0 million in the corresponding quarter of the prior year. Net income rose to $6.0 million or $0.88 earnings per share, versus net income of $423 thousand or $0.06 per share, for the prior-year’s quarter. As of April 30, 2009, the company’s backlog was $99.6 million, down $8.3 million or 7.6% from the January 31, 2009 year end and down $88.0 million or 46.9% from April 30, 2008. The stock closed at $8.04, up 32.24%, on 181,773 traded shares.

 

Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) announced results of the Phase 2 study of Zerenex for the treatment of elevated serum phosphorous levels, or hyperphosphatemia, in patients with end-stage renal disease (ESRD) on thrice weekly hemodialysis. The study was a multicenter, open-label clinical trial, which enrolled 55 patients. The primary objective of this study was to assess the tolerability and safety of Zerenex (ferric citrate) with doses ranging from approximately 1 gram per day to 12 grams per day. The top line efficacy and safety results from this Phase 2 study were submitted to the FDA. The stock closed at $1.35, up 25%, on 11,675,958 traded shares.