Biostar Pharmaceuticals Soared 63% (BSPM, CHTP, BBX, RMBS, HZNP)
Biostar Pharmaceuticals Inc (NASDAQ:BSPM) augmented 62.62% to $1.74 on a traded volume of 1.22 million shares. The Company has signed a Letter of Intent with The Fourth Military Medical University to jointly conduct Phases I to III clinical trials for Viacom Pine II Cream drug. The Letter of Intent has been submitted to China’s military authorities for approval.
Viacom is a prescription drug developed by the First Affiliated Hospital of Dermatology of FMMU specifically for the needs of China’s military and will be used to treat skin diseases such as bacterial and fungal infections, dermatitis and eczema
Chelsea Therapeutics International Ltd (NASDAQ:CHTP) jumped up 21.01% to $1.38. Last week, the Company said that all corporate officers and directors of the Company would take a voluntary 25% reduction in salary and fees, respectively, effective July 1. This will be done until the results of the Company’s ongoing Phase III trial of Northera are available.
BankAtlantic Bancorp Inc (NYSE:BBX) soared 13.39% to $5.42. The Company has received notice from the manager of part of its corporate debt that it is in default. According to Securities and Exchange Commission filing, the Company had received the notice of default on May 31 from Wilmington Trust Co.
Rambus Inc (NASDAQ:RMBS) moved up 12.39% to $5.46. The 52-week range for the stock is $4.0 and $18.55. The Company has Price/Sales ratio of 1.72 and Price/Book ratio of 1.31. The 50-Day Moving Average and 200-Day Moving Average prices is $4.65 and $6.58 respectively. So far this year, the stock is down over 27%.
Horizon Pharma Inc (NASDAQ:HZNP) climbed up 8.08% to $4.55 on a traded volume of 1.23 million shares. The median Wall Street price target on the stock is $13.0 and the high target is set at $16.00 with majority of analysts have a strong buy rating on the company’s stock. The stock has the 50- Day Moving Average and 200-Day Moving Average prices of $3.90 and $3.97 respectively.