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:Genesis Technology Group Inc. (OTCBB: GTEC) announced this morning that its Beijing pharmaceutical partner, Lotus Pharmaceuticals (OTCBB: LTUS), has advanced in the development of a treatment for Hepatitis B and also increased its number of local outlets to 15 retail stores. This news jumped started Genesis’ stock price gain this morning of 52 percent at the market’s open and is now trading up 2 cents, or 11 percent, to 15 cents. The development of Ganbifu is expected to reach the market in 2009. Lotus Pharmaceutical shares were up 68 cents, or 52 percent, to $1.98 this morning.
International Smart Sourcing Inc. (OTCBB: ISSG) announced today it has signed a letter of intent to acquire Real Property Technology. Real Property is a privately held real estate information solution company with approximately 24 million in annual revenue. International Smart Sourcing stock price has already gained 7 cents, or 28 percent, to 32 cents on volume of almost 200 thousand.
Peace Arch Entertainment Group Inc. (AMEX: PAE), an innovative film and television entertainment company, announced today it will release its third-quarter fiscal 2007 results after the market’s close this afternoon. In response to the news, shares rose 22 cents, nearly 10 percent, to $2.50 on volume of 230,000.
Dyax Corp. announced today the pricing of an underwritten public offering of 10,500,000 shares of its common stock – up from an initial proposition of 9,500,000 shares. All shares are being offered at $3.67 per share. Underwriters are granted a 30-day option to buy an additional 1,575,000 shares of common stock at the public offering price to cover allotments, if any. In response to the announcement, shares of Dyax rose 33 cents, or 9 percent, to $4.00 in mid-afternoon trading.
