Mid Morning Gainers: Receptos Inc(NASDAQ:RCPT), BSD Medical Corporation(NASDAQ:BSDM), Miller Energy Resources Inc(NYSE:MILL), IsoRay, Inc.(NYSEMKT:ISR)

Receptos Inc(NASDAQ:RCPT), a biopharmaceutical company, said on Tuesday that it has closed its underwritten public offering of 4,433,000 shares of common stock at a price to the public of $40.25 per share, raising $178.4 million. Receptos has granted the underwriters a 30-day option to purchase up to an additional 664,950 shares.

The company said that it intends to use the net proceeds to fund continued development of its product candidate RPC1063 in ongoing clinical trials for relapsing multiple sclerosis and ulcerative colitis, development of its in-licensed product candidate RPC4046 in a clinical trial for eosinophilic esophagitis, other ongoing preclinical and research programs and for general corporate purposes including working capital.

Shares were up 1.72% to $40.80 on Tuesday morning, towards the upper end of the company’s 52-week range, which has seen a share price high of $55 and a low of $15.21.

Miller Energy Resources Inc(NYSE:MILL) shares were higher over 2% in recent trade after saying it has had strategic discussions to sell its Tennessee assets and announcing plans to reduce general and administrative costs by between $3 million and $5 million. MILL is trading in the lower half of the 52-week range between $3.85 and $8.97. The oil and natural gas exploration, production and drilling company said it has started internal restructuring and cost reduction.

“The targeted reduction is aggressive, but, we think, appropriate and achievable, driven in large part by the elimination of our Tennessee operations and the favorable resolution of several outstanding lawsuits and the recent proxy contest,” CEO Scott Boruff said in a statement. “While we still believe Tennessee has significant growth potential, our capital is clearly better allocated to our Alaskan operations and the investment opportunities that exist there.”

BSD Medical Corporation(NASDAQ:BSDM), a provider of medical systems that treat cancer, reported on Tuesday that Terumo Europe NV (Terumo) has obtained approvals to market and import the MicroThermX Microwave Ablation System (MicroThermX) in South Africa, Dubai, Qatar, and Jordan.

The company said that the approvals were part of Terumo’s marketing strategy to expand MicroThermX distribution outside of Western Europe. BSD’s exclusive, multi-million dollar agreement with Terumo covers distribution of the MicroThermX in more than 100 countries, including Europe, Western Asia and Africa, with a market potential that exceeds $1 billion, the company said.

Sam Maravich, Vice President of International Sales and Marketing of BSD Medical, said: “Terumo is implementing a well-planned marketing strategy for the MicroThermX aimed at geographic expansion.” He added: “We are gaining sales traction in the Western European countries. Terumo is an exceptional partner for BSD, making substantial investments in sales and marketing of the MicroThermX.”

The soft tissue (tumor) ablation world market potential is estimated to exceed $2.3 billion. The US Food and Drug Administration has granted BSD Medical Corporation a 510(k) clearance to market the MicroThermX for ablation of soft tissue.

BSD has also received CE Marking for the MicroThermX System, which allows BSD to market the MicroThermX in Europe. The company added that CE Marking is also recognized in many countries outside of the EU, providing BSD the ability to market the MicroThermX to a number of international markets. Shares in BSD Medical were up 9.34% at $1.17. Over the past 52 weeks, the company has seen a share price high of $1.78 and a low of $0.95.

IsoRay, Inc.(NYSEMKT:ISR) shares leapt in Tuesday’s pre-market session, after the medical-technology said a neurosurgeon at Capital Medical Center successfully completed the first GliaSite Radiation-Therapy-System implant utilizing its liquid Cesium-131, or Cesitrex, which recently was cleared by the Food and Drug Administration for internal radiation therapy. ISR was up 18% at $3.15 in recent pre-market trading, nearing the high end of its 52-week range of $0.44 to $3.77.

The patient was a 72-year-old male who was diagnosed with recurrent brain cancer that had metastasized from esophageal cancer. Earlier attempts to control this cancer included surgery, external brain radiation and stereotactic radiosurgery, which had failed and the metastasis returned.