These stocks had the largest percentage moves today. I am not recommending these stocks right now since they are unprofitable and much riskier than the average company. This is just a brief update so that investors can do further research if desired.
The largest stock percentage gainer was FXCM Inc. (FXCM), which increased 52% today. FXCM, the leading provider of foreign exchange trading, announced recently that it is having ongoing discussions with Leucadia National (LUK) to restructure their existing agreement for a sustainable, value-enhancing strategy for both companies. FXCM also reiterated that it authorized a stock repurchase program of up to $130 million, where $65.8 million remains.
The 2nd largest stock percentage gainer was NephroGenex (NRX), which increased 48%. NephroGenex announced that it received FDA clearance for the company's investigational new drug application for clinical studies with intravenous Pyridorin. The drug is a treatment for acute kidney injury, a serious medical condition characterized by an abrupt loss of kidney function. This condition affects up to 18% of hospital inpatients and is responsible for about 2 million deaths per year throughout the world. Although the I.V. version of Pyridorin just received clearance for clinical studies, the oral version of the drug is in Phase III for the treatment of diabetic nephropathy.
Today's 3rd largest stock percentage gainer was also Friday's largest gainer, BioPharmX (BPMX). The stock rose 27% today after Friday's 53% increase. BioPharmX reported positive results for its unique formulation of minocycline [BPX-01]. BPX-01 could be a breakthrough treatment for acne because it can safely deliver the antibiotic to the part of the skin where the condition develops. The study's findings will be presented on Monday at 1:30pm at the annual gathering of American Society of Cell Biology. BioPharmX's treatment is considered a breakthrough because it goes to the root of the problem as opposed to current treatments that only penetrate the top layer of skin.