News Buzz: Emerald Oil (EOX), TiVo (TIVO), Sophiris Bio (SPHS), GlobeImmune Inc. (GBIM), Ceres (CERE)

Shares of Emerald Oil Inc (EOX) are up 22% to $6.39 in early trading Wednesday following the company’s announcement that due to the current market environment and associated dilution to existing shareholders, it has elected not to proceed with its previously announced public offering of common stock.

TiVo Inc. (TIVO) is trading at an unusually high volume Wednesday with 1.7 million shares changing hands. Tivo gained 4% in early trading after the company reported first-quarter earnings that beat Wall Street estimates. Revenue for the quarter came in at $114.7 million — nearly $3 million higher than analysts’ predictions. Net income came in at $7.9 million, in line with the high-end of guidance.

The San Jose, California-based company said it  ended April with 5.76 million subscribers, up 27% year-over-year.

Sophiris Bio, Inc. (SPHS) shares rocketed 50 percent to $1.32 in early trade following news that the first patients have been dosed in a Phase 2a proof of concept trial of PRX302 as a treatment for localized low to intermediate risk prostate cancer.

“The highly targeted treatment with PRX302, which selectively destroys prostate tissue, makes PRX302 a promising treatment approach for localized prostate cancer,” stated Professor Mark Emberton, Director of the Division of Surgery and Urologist at University College London.

The name is trading at an unusually high volume Wednesday with 13 million shares changing hands. It is currently at more than 15x its 3-month average volume.

Shares of GlobeImmune Inc. (GBIM) are down more than 51% this morning after the company announced weak top line results from the GS-4774 Phase 2 study in patients with chronic hepatitis B on long term viral suppression with an oral antiviral treatment.

“We believe that this first Phase 2 trial of GS-4774 in virally-suppressed patients suggests initial biologic activity at the highest dose tested,” said in a statement Timothy C. Rodell, M.D., FCCP, President and CEO of GlobeImmune, Inc.

Ceres Inc (CERE) shares were up nearly 15 percent to $1.94 this morning after the company reported that it has been awarded a U.S. patent for innovation in soybean.

The stock is trading on heavy volume with 5.3 million shares changing hands in early trading, well ahead of its three month daily average of 220K shares.

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