Big Movers (SVNT, APP, PURE, PWAV, AXAS)

Savient Pharmaceuticals, Inc.(NASDAQ:SVNT) shares climbed 8.73% to $2.72 after the company announced that the appointment of John P. Hamill as Senior Vice President & Chief Financial Officer (CFO )effective from September 24, 2012.

Will SVNT Continue To Move Higher? Find Out Here

The company announced that several abstracts related to KRYSTEXXA (pegloticase) in the treatment of patients with Refractory Chronic Gout (RCG) will be presented at the 2012 ACR/ARHP Annual Meeting taking place in Washington D.C., from November 9-14, 2012.

American Apparel Inc.(NYSEAMEX:APP) shares jumped 7% to $1.53 in the morning hour. The 52 week trading range for the company is $0.52 - $1.60. The shares of the company soared 72% in the last one year. The Company designs, manufactures and sells clothing for women, men, children and pets through retail, wholesale and online distribution channels.

How Should Investors Trade APP Now? Find Out Here

PURE Bioscience(NASDAQ:PURE) stock increased 13.14% to $1.12 after the company announced it has regained compliance with Nasdaq listing requirements, and will continue trading on the Nasdaq Capital Market.

Additionally, the company announced the closing of an underwritten public offering of 3,784,000 shares of its common stock at an offering price of $1.10 per share. In addition, the Underwriter has exercised the over-allotment option, and purchased an additional 557,615 shares of common stock to cover over-allotments. The gross proceeds to PURE from the offering, including the exercise of the over-allotment option, were approximately $4,775,777, before deducting the underwriting discount and other offering expenses payable by PURE. Aegis Capital Corp. acted as the sole book-running manager for the offering.

Powerwave Technologies, Inc.(NASDAQ:PWAV) stock increased 1.25% to $0.655. The company, on Sept. 12, announced that it has entered into a new $50 million senior secured credit agreement with P-Wave Holdings, LLC, an affiliate of The Gores Group. Under the credit agreement, the lenders advanced $35 million to the Company, less fees and expenses, and agreed to loan an additional $15 million to the Company upon request from the Company subject to the fulfillment of certain conditions.

Abraxas Petroleum Corp.(NASDAQ:AXAS) shares fell 4.21% to $2.39 in the early hour after the company announced that the Spires Ranch 89-1H well has been completed and is currently flowing approximately 828 barrels of oil per day and 734 mcf per day of gas on a 30/64 inch choke with 230 pounds of flowing tubing pressure. This horizontal well was drilled to a total depth of approximately 9,850 feet including an approximate 2,800 foot horizontal section. The well was completed open hole with no stimulation. Abraxas owns a 100% interest in the Spires Ranch lease.