Biggest small-cap winners and losers in Thursday's afternoon session

Here are Thursday’s biggest percentage gainers and losers in midday trading, along with top volume leaders, among companies with a market cap between $50 million and $750 million:

Biggest percentage gainers:

• Kosan Biosciences Inc. (Nasdaq:KOSN), up 229.7% to $5.44 after announcing Bristol-Myers Squibb is buying the cancer therapeutics firm for $5.50 per share in cash.
• Ultralife Batteries, Inc. (Nasdaq:ULBI), up 24.2% to $12.01 after reporting second-quarter guidance above Wall Street’s expectations.
• Elizabeth Arden, Inc. (Nasdaq:RDEN), up 15.1% to $15.40 after it said it has contracted a long-term global licensing agreement with Liz Claiborne Inc. (NYSE:LIZ) to manufacture and distribute Liz Claiborne fragrance brands.

Biggest percentage losers:

• KMG Chemicals, Inc. (Nasdaq:KMGB), down 15.9% to $10.50 after reporting weak third-quarter results.
• Community Valley Bancorp (Nasdaq:CVLL), down 13% to $8.71 despite no reports from the firm.
• Community Bankers Acquisition Corp. (AMEX:BTC), down 12.6% to $6.40 despite an announcement that certain new investors bought about 4.1 million shares of common stock.

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