Courtesy of Benzinga.
Below are highlights from Benzinga’s daily coverage of microcap securities making big moves:
Cyclacel Pharmaceuticals
Shares of Cyclacel Pharmaceuticals (NASDAQ: CYCC), the Berkeley Heights, NJ biotechnology company, rose 14% Monday on 3 times the average daily volume.
Cyclacel announced Monday that Spiro Rombotis, President and Chief Executive Officer, will present an update on the Company’s programs at two upcoming conferences in New York:
14th Annual BIO CEO & Investor Conference, Monday, February 13, 2012 at 10:00 AM ET.
Leerink Swann 2012 Global Healthcare Conference, Thursday, February 16, 2012 at 4:00 PM ET.
Cyclacel Pharmaceuticals closed at $0.66 on Monday.
North Springs Resources
Shares of North Springs Resources (NSRS), the Reno, NV developer of mineral resource properties, rose 29% Monday on almost twice the average daily volume.
North Springs Resources announced Monday that it has received initial sampling results from phase one exploration conducted at the Imperial Gold Silver Property, located about 13 miles south of South Peak, Nevada, in the Railroad Springs Mining District.
Initial results include gold assays from underground workings and one geochemical target. Geochemical analysis was conducted by ALS Chemex, an independent third-party laboratory in Reno, Nevada. Additional test results for silver content are expected to be received later this week.
North Springs Resources closed at $1.49 on Monday.
Cybex International
Shares of Cybex International (NASDAQ: CYBI), the Medway, MA manufacturer of cardiovascular fitness equipment, rose 116% Monday on 13 times the average daily volume.
Cybex International announced Wednesday that it had reached a settlement in the product liability litigation, Barnhard v. Cybex International. Pursuant to the settlement, Cybex will pay to the plaintiff, net of insurance, approximately $19,500,000, of which approximately $18,500,000 will be paid at the consummation of the settlement with the balance paid over seven years. As part of the settlement, Cybex will be released of all further liability with respect to the litigation, which will be dismissed with prejudice. Cybex will satisfy its cash obligation through available cash, its existing line of credit and additional financing, which it is in the process of arranging with its principal bank.
Cybex International closed at $1.19 on Monday.
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