The markets closed modestly higher with the Dow adding 14 points to 13,169 as investors continued to monitor fiscal cliff developments. Nasdaq rose 8 points to 2986. On the upside
Acura Pharmaceuticals (Nasdaq: ACUR) launched a version of its decongestant that is harder to turn into methamphetamine. UniPixel (Nasdaq: UNXL) stock continued rising after announcing on Friday a multi-million dollar deal to license its UniBoss Performance Engineered Film technology for notebooks. Infinity Pharmaceuticals (Nasdaq: INFI) reported positive interim data from a Phase 1 clinical trial of its hematologic malignancy treatment IPI-145. On the downside A Seeking Alpha contributor questioned the results of Acadia Pharmaceuticals' (Nasdaq: ACAD) Phase III trial of pimavanserin. Jefferies analyst Luke Folta downgraded GrafTech International (NYSE: GTI) to a Hold rating and cut his price target from $9 to $6. Oclaro (Nasdaq: OCLR) commenced a private offering of $25 million in exchangeable senior notes. In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 826.