Posts Tagged ‘Penny Stocks’

Unwired Planet, Inc. (UPIP) soars after announcement of patent infringement lawsuits against Apple and Google

Thursday, September 20th, 2012

Shares of , Unwired Planet Inc. (Nasdaq: UPIP) were up more than 9 percent from Wednesday’s closing price in morning trading on Thursday after the company announced that it filed patent infringement lawsuits against Apple and Google.

Shares touched a high of $2.02 in morning trading, up from Wednesday’s closing price of $1.85.

The complaints charge Apple with infringing on 10 of Unwired Planet’s patents, and charge Google with infringing on 10 different patents, according to a September 20 press release. The 20 patents are related to smart mobile devices, cloud computing, digital content stores, push notification technologies and location-based services including mapping and advertising, the press release stated.

“Apple and Google generate substantial revenues from devices and services that rely on the intellectual property that Unwired Planet developed and patented over the last 15 years,” said Unwired Planet’s CEO Mike Mulica in the September 20 press release. “They should compensate us for the use of our patented technologies, which are foundational to mobility.”

The complaints were filed in Nevada, which was chosen as “one of 14 districts across the United States as a pilot patent district,” and has developed “specialized procedures to handle complex patent cases,” Mulica said. “As a result, we believe the Nevada district will be an ideal venue to resolve this matter with efficiency and expertise.”

Unwired Planet has about 200 U.S. and foreign patents and roughly 75 pending applications, Fores reported.

Shares of UPIP are down about 19 percent over the past three months.

MER Telemanagement Solutions Ltd. (MTSL) soars on improved second quarter results

Friday, August 17th, 2012

MTS Telemanagement SolutionsShares of Israel-based business support systems provider MER Telemanagement Solutions Ltd. (Nasdaq: MTSL) soared as much as 77 percent from Thursday’s closing price in morning trading on Friday after the company announced improved results for the second quarter of 2012 over the same period last year.

MTSL hit an intraday high of $2.84 per share on Friday, up from Thursday’s closing price of $1.60.

Revenue for the second quarter was $3.3 million, up from $3 million in the same period a year ago. Operating income from the quarter skyrocketed to $517,000, a 170 percent improvement over operating profit of $191,000 for the same quarter a year earlier. Net income improved to $460,000, or 10 cents per share, up from $229,000 or 5 cents per share in the second quarter of 2011.

“Our second quarter results represent continued improvements in our financial results and indicators as a result of our efforts to develop our Telecom Expense Management opportunities through partners, new customer acquisitions and expanding our existing customer base,” said Eytan Bar, CEO of MTS in an August 16 press release. “In addition, our company’s Billing and Mobile Virtual Network Operator (MVNO) activity as a managed service has grown and we were able to sign an additional managed service agreement with a new MVNO in the U.S. and we see other opportunities in this market. We are looking forward to improving both our top and bottom line performance.”

Shares of MTSL are up more than 50 percent over the past three months.


Chelsea Therapeutics International Ltd. (CHTP) rises on FDA nod for Northera

Friday, February 24th, 2012

Chelsea Therapeutics CHTPShares of Charlotte-based drug maker, Chelsea Therapeutics International Ltd. (Nasdaq: CHTP) were up as much as 69 percent from Thursday’s closing price on Friday after it was announced that the U.S. Food and Drug Administration voted in favor of recommending Chelsea’s neurological drug, Northera, for approval.

Chelsea Therapeutics shares touched a high of $4.09 on Friday, up from Thursday’s closing price of $2.41.

“We believe our clinical data demonstrates the significant symptomatic benefit of Northera treatment across a broad range of Neurogenic OH symptoms,” said Chelsea Therapeutics’ CEO Dr. Simon Pedder in a statement. “Since no other treatment has been proven to alleviate the symptoms of neurogenic OH or improve patients’ ability to carry out activities of daily living, we continue to believe Northera could fill this unmet need for patients with Parkinson’s disease, MSA, PAF and other neurologic diseases. We are pleased by today’s panel vote and we look forward to continuing to work with the FDA in advance of the March 28, 2012 PDUFA action date.”

Northera is the lead investigational agent in Chelsea’s pipeline, and has has been studied in two Phase III clinical trials for the treatment of symptomatic neurogenic orthostatic hypotension in patients with primary autonomic failure — a group of diseases that includes Parkinson’s disease, multiple system atrophy (MSA) and pure autonomic failure (PAF). Droxidopa is a synthetic catecholamine that is directly converted to norepinephrine (NE) via decarboxylation, resulting in increased levels of NE in the nervous system, both centrally and peripherally.

Chlesea Therapeutics submitted a New Drug Application (NDA) for Northera in September 2011. The drug was previously granted Orphan Drug Designation, which is granted by the FDA to treatments for rare diseases and disorders.


iGo, Inc. (IGOI) shares soar on higher-than-usual volume

Monday, December 5th, 2011

Shares of power products maker iGo, Inc. (Nasdaq: IGOI) were up as much as 45 percent from Friday’s closing price in morning trading on Monday. Shares touched an intraday high of $1.28, up from Friday’s closing price of $0.88.

The Scottsdale-based company and its subsidiaries engage in the design, development, manufacture, and distribution of power products for high-power and low-power mobile electronic devices. The company’s products include AC/DC universal power adapters, DC-only power adapters, AC-only power adapters, DC cigarette lighter adapters, mobile AC adapters, combination AC/DC adapters, and battery-powered adapters. It also provides mobile device accessories, such as monitor stands, portable computer stands, and foldable keyboards.

For the three months ended September 30, iGo, Inc. reported revenue of $9.6 million, a decrease of 20 percent compared to revenue of $12.2 million reported in the same three month period in 2010. The company reported a net loss of $2.2 million, or $0.07 per share, compared to net income of $51,000, or break even in the same period a year ago. For the nine months ended September 30, iGo, Inc.’s revenue fell to $29.7 million, from $30.1 million in the same nine month period in 2010. The company’s net loss for the nine months ended September 30 was $5.8 million, or $0.17 per share, compared to net income of $419,000, or $0.01 per share in the same nine month period a year ago.

The quarterly revenue drop was primarily due to the decrease in sales to RadioShack and Belkin, offset by the addition of battery, audio and protection product lines as a result of Adapt and Aerial7 acquisitions in the second half of 2010 and the Pure Energy relationship in the first quarter of 2011, combined with the increases in sales to Walmart.

Shares of IGOI are down about 15 percent over the past three months.

Orexigen Therapeutics, Inc. (OREX) surges on news of obesity drug revival

Wednesday, September 21st, 2011

Shares of Orexigen Therapeutics, Inc. (Nasdaq: OREX) surged more than 80 percent from Tuesday’s closing price in morning trading on Wednesday after the company, along with the U.S. Food and Drug  Administration identified “a clear and feasible path to approval for Contrave,” Orexigen’s experimental obesity drug that was shelved  earlier this year because of health risks.

“We have been working with clinical experts, advocacy groups, and our partner, Takeda, throughout this process and are pleased with the feedback provided by FDA that identified a very clear and feasible path forward for this important therapy,” said Michael Narachi, President and CEO of Orexigen in a September 21 press release.

Shares of Orexigen touched a high of $2.68, up from Tuesday’s closing price of $1.47, according to Yahoo Finance.

Contrave, an investigational combination therapy of naltrexone HCl and bupropion HCl, was studied for its ability to help people with obesity initiate and sustain weight loss of at least 5 percent of their starting body weight in one year. Contrave was submitted for U.S. regulatory approval in March 2010. The original submission was based on multiple clinical trials that evaluated Contrave in more than 4500 patients.

Orexigen Therapeutics and its Japanese partner Takeda will need to run a  patient safety study of approximately 10,000-patients to assess the heart-safety risk of Contrave.

Orexigen estimates that the entire study would require less than 10,000 patients and less than two years from study start to the interim analysis, according to the September 21 press release. Orexigen plans to meet with the review division to finalize a protocol with the objective of initiating the CVOT in the first half of 2012, with potential approval in 2014.