Each morning, the exchanges come alive – and finding a company with news to back its movement allows MN1 to bring you updates each morning and afternoon to keep you on top of the small and micro-cap markets. The following companies released news late yesterday evening or early this morning:PacketPort.com Inc. (Pink Sheets: PKPTE) shares rose 2 cents, or 100 percent, to 5 cents on volume of 38,500 this morning as the company announced its intentions to trade on the OTC Bulletin Board. Today, social network enabler YFonGlobal LLC announced it reached an agreement to reverse merge with PacketPort. The deal will result in PacketPort becoming a fully reporting corporation, advancing from the Pink Sheets. YFonGlobal said it expects to raise between $5 million and $10 million “subject to completion of the merger.”
GeneThera Inc. (OTCBB: GTHA) shares rose 1 cent, or 38 percent, to 4 cents on volume of 659,460 Tuesday morning. The company announced it received a contract from the Intramural Research Program, National Institute on Aging, and National Institutes of Health. Per the agreement, GeneThera will genetically engineer monoclonal antibodies to make them “clinically usable” for the treatment of hypertension.
Immtech Pharmaceuticals Inc. (AMEX: IMM) shares climbed 51 cents, or 8 percent, to $7.40 on volume of 43,800 this morning on word the company granted an exclusive license to Par Pharmaceuticals Inc. (NYSE: PRX) to market Immtech’s lead oral drug in treatment of pneumocystis pneumonia in AIDS patients. Immtech received an initial payment of $3 million from Par and an additional $29 million will be paid to Immtech as the Phase III clinical trial progress.
Celscisci Corp. (AMEX: CVM) shares climbed 7 cents, or 9 percent, to 87 cents on volume of 639,500 this morning after the company announced the U.S. Food and Drug Administration (FDA) has granted its cancer drug Multikine “orphan-drug designation” for therapy in patients with squamous cell carcinoma of the head and neck. “Orphan-drug designation” gives the company seven years marketing exclusivity, quick approval time and tax incentives.
