Titan Pharmaceuticals (TTNP) had the highest return in May 2009 by a micro-cap US stock, returning 2,647.2%.

ASSET	MONTH	% RETURN
Titan Pharmaceuticals (TTNP)	May 2009	2,647.15%
Vanda Pharmaceuticals (VNDA)	May 2009	1,349.5%
Nephros (NEPH)	May 2009	700%
XTL Biopharmaceuticals Ltd ADR (XTLB)	May 2009	260.13%
Sonoma Pharmaceuticals (SNOA)	May 2009	249.11%
IT Tech Packaging (ITP)	May 2009	227.61%
VerifyMe (VRME)	May 2009	200%
India Globalization Capital (IGC)	May 2009	168%
ACCESS Newswire (ACCS)	May 2009	166.63%
Achieve Life Sciences (ACHV)	May 2009	165.41%
Lee Enterprises (LEE)	May 2009	163.16%
Pixelworks (PXLW)	May 2009	146.48%
Ageagle Aerial Systems (UAVS)	May 2009	145%
Versus Systems Inc. (VS)	May 2009	140%
Alaunos Therapeutics (TCRT)	May 2009	134.78%
Fonar (FONR)	May 2009	132.26%
Lisata Therapeutics (LSTA)	May 2009	125.26%
Plus Therapeutics (PSTV)	May 2009	104.86%
Planet Green (PLAG)	May 2009	104.55%
Intrusion (INTZ)	May 2009	103.33%
TOMI Environmental Solutions (TOMZ)	May 2009	99.5%
Solitario Exploration & Royalty (XPL)	May 2009	91.82%
BK Technologies (BKTI)	May 2009	90.36%
Aytu BioScience (AYTU)	May 2009	87.5%
Security National Financial (SNFCA)	May 2009	87.1%

Micro-cap stocks are treated as having a market cap of <= $300M.