Benzinga's Microcap Movers for Monday June 18, 2012

Below are highlights from Benzinga's daily coverage of small cap and microcap securities making big moves: K-V Pharmaceutical Company K-V Pharmaceutical Company KVA, the Bridgeton, MO specialty pharmaceutical company, fell 28.57% Monday on 16 times the average daily volume. K-V Pharmaceutical announced Monday that the U.S. Food and Drug Administration and the Centers for Medicare & Medicaid Services both issued updated statements on Makena that affirm the importance of the only FDA-approved drug for treatment of women with a history of preterm birth. Prior statements by both agencies had been cited by some payers as the basis for denying patients' access to FDA-approved Makena in favor of unapproved compounded hydroxyprogesterone caproate formulations. In a reversal of its March 30, 2011 statement, the "FDA emphasizes that it is applying its normal enforcement policies for compounded drugs to compounded hydroxyprogesterone caproate. The compounding of any drug, including hydroxyprogesterone caproate, should not exceed the scope of traditional pharmacy compounding. Compounding large volumes of drugs that are copies of FDA-approved drugs circumvents important public health requirements, including the Federal Food, Drug, and Cosmetic Act's drug approval provisions." K-V Pharmaceutical Company closed at $0.75 on Monday. Patriot Coal Shares of Patriot Coal PCX, the St. Louis, MO coal mining company, rose 20% Monday on slightly more than average volume. The was renewed takeover chatter in Patriot Coal last week, but shares rallied little on the report. Patriot does have 25.90% short interest. Patriot Coal closed at $1.50 on Monday. Genetic Technologies Shares of Genetic Technologies GENE, the Australia-based genetic testing services, rose 26.49% Monday on 3.5 times the average daily volume. There was no specific news to account for the move. Last week an article in Bloomberg on genome screening sent the entire sector higher. Genetic Technologies closed at $4.25 on Monday. The information in this article is taken from public sources, press releases, and websites that cannot always be verified. Please note that investing in microcap stocks is highly speculative. The companies mentioned here are for information purposes only. Benzinga makes no claim as to the suitability of these stocks as an investment. Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.