The top pre-market NASDAQ Stock Market gainers are: Asia Entertainment & Resources, Google, Sino Clean Energy, Vical, and Carrizo Oil & Gas. The top pre-market NASDAQ Stock Market losers are: Seattle Genetics, Qlik Technologies, Logitech International, ICAgen, and Corinthian Colleges.
Asia Entertainment & Resources Ltd. (AERL) stock climbed 14.70 percent to $9.13 in the pre-market trading.
Google Inc. (GOOG) stock jumped 13.01 percent to $597.78 in the pre-market trading. Adjusted profit for the second quarter was $2.85 billion or $8.74 per share, up from $2.08 billion or $6.45 per share last year. Revenue grew 32 percent to $9.03 billion. Revenue, excluding Traffic Acquisition Costs that is the portion of revenues shared with Google's partners, grew 36 percent to $6.92 billion. Analysts had expected profit of $7.86 per share on revenue of $6.55 billion. I'm super excited about the amazing response to Google+ which lets you share just like in real life, Google's chief executive officer Larry Page said. Google+ now has over 10 million users.
Sino Clean Energy Inc (SCEI) stock grew 9.04 percent to $2.05 in the pre-market trading.
Vical Inc. (VICL) stock grew 6.05 percent to $4.56 in the pre-market trading. The company and Astellas Pharma Inc. announced that they have signed exclusive license agreements for the United States and for all territories in the rest of world outside the United States to develop and commercialize TransVax, Vical's therapeutic vaccine designed to control cytomegalovirus reactivation in transplant recipients. The companies expect to begin a multinational Phase 3 registration trial of TransVax in hematopoietic stem cell transplant recipients as well as a Phase 2 trial in solid organ transplant recipients in the first half of 2012.
The agreements will become effective subject to the expiration or termination of the applicable 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. As per the agreements, Astellas will be responsible for further development and commercialization, including all costs. Vical has an option to co-promote TransVax in the United States. Vical will provide assistance to Astellas with TransVax-related manufacturing, regulatory and certain development activities, for which Astellas will reimburse all of Vical's future costs, including personnel and external expenses.
Vical said it will receive near-term payments of $35 million, including $25 million upon the effective date and $10 million upon finalization of the Phase 3 trial design. Vical potentially will receive up to $130 million in total upfront and milestone payments through commercial launch and double-digit royalties on net sales. TransVax is a bivalent DNA vaccine containing plasmids (closed loops of DNA) encoding CMV pp65 and gB antigens for induction of both cellular and humoral immune responses. TransVax is formulated with a proprietary poloxamer-based delivery system. TransVax has received orphan drug designation in the United States for HSCT and SOT patients.
Carrizo Oil & Gas Inc. (CRZO) stock gained 4.76 percent to $39.80 in the pre-market trading.
Seattle Genetics Inc. (SGEN) stock fell 5.41 percent to $19.23 in the pre-market trading. The company said the Oncologic Drugs Advisory Committee to the U.S. Food and Drug Administration voted 10-0 to recommend the granting of accelerated approval of Adcetris for the treatment of patients with Hodgkin lymphoma who relapse after autologous stem cell transplant. In addition, the Oncologic Drugs Advisory Committee or ODAC voted 10-0 to recommend that the FDA grant accelerated approval of Adcetris for the treatment of patients with relapsed or refractory systemic anaplastic large cell lymphoma or ALCL. Adcetris is an antibody-drug conjugate directed to CD30, a defining marker of Hodgkin lymphoma and ALCL.
The FDA is expected to act on the two Biologics License Applications or BLAs for Adcetris by August 30, 2011 under the Prescription Drug User Fee Act. The Adcetris BLAs were based primarily on data from a pivotal trial in relapsed or refractory Hodgkin lymphoma that was conducted under a Special Protocol Assessment with the FDA and from a phase II trial in relapsed or refractory systemic ALCL. The FDA is not obligated to follow the guidance of advisory committee panels but normally takes its advice into consideration before making its final decision on approval.
Qlik Technologies, Inc. (QLIK) slid 5.07 percent to $32 in the pre-market trading.
Logitech International SA (LOGI) stock declined 2.77 percent to $9.82 in the pre-market trading.
ICAgen Inc. (ICGN) stock declined 1.77 percent to $7.76 in the pre-market trading.
Corinthian Colleges Inc. (COCO) stock decreased 1.62 percent to $4.25 in the pre-market trading.