The top pre-market NASDAQ Stock Market gainers are: Identive Group, Santarus, Spectrum Pharmaceuticals, Avanir Pharmaceuticals, Orckit Communications, and Sangamo Biosciences. The top pre-market NASDAQ Stock Market losers are: Travelzoo, Hanwha SolarOne, JDS Uniphase, Aixtron, Apollo Investment, and LM Ericsson Telephone.
Identive Group, Inc. (INVE) stock jumped 8.55 percent to $3.30 in the pre-market trading. The company announced the signing of a Value Added Reseller (VAR) agreement with NXP Semiconductors (NXPI), whereby the companies will work together to identify and address emerging opportunities in the secure identification market by promoting and selling Identive's identification products, based on NXP's RFID semiconductor technology. The agreement is for an initial three-year term and is then renewable on an annual basis.
NXP and Identive will work closely to identify, jointly assess and mutually address new market opportunities for secure identification applications and technologies. The agreement builds on the existing business relationship between the two companies, which currently includes cooperation on secure identification applications such as contactless readers for government and employee ID programs, near field communications (NFC) stickers for mobile phones and smart posters, and radio frequency identification (RFID) tags for tracking assets such as pharmaceutical products or library books. The expanded cooperation will increase the span and reach of both companies, commercially and technologically, and allow the 2 companies to address new markets with complete solution offerings such as NFC in mobile consumer products, with dedicated resources at both companies.
Santarus, Inc. (SNTS) stock climbed 7.48 percent to $3.45 in the pre-market trading. The company said new data from open-label studies evaluating the efficacy and safety of the investigational drug RHUCIN (recombinant human C1 inhibitor) for the treatment of acute attacks of angioedema in patients with Hereditary Angioedema (HAE) were presented at the 7th C1 Inhibitor Deficiency Workshop on May 20 - 22, 2011 in Budapest, Hungary.
Santarus said new data from 194 treatments with RHUCIN in 57 patients with acute HAE attacks were presented at a satellite symposium at the Workshop. The data were from an open-label extension study from one of two randomized controlled studies that formed the basis for regulatory approval in Europe. The median time to beginning of relief of symptoms across treatments for repeat attacks was approximately 60 minutes with an overall response rate of 87% and no relapses. No product-related adverse reactions were observed during this study. This data from the European open-label study is consistent with previously announced results from an open-label extension study conducted in North America. The safety dataset of RHUCIN now includes a total of 714 administrations in 190 subjects.
Spectrum Pharmaceuticals, Inc. (SPPI) stock grew 2.77 percent to $8.90 in the pre-market trading. The company announced ZEVALIN (ibritumomab tiuxetan) and Belinostat abstracts will be presented at the 2011 Annual Meeting of the American Society of Clinical Oncology (ASCO), to be held June 3-7, 2011 at the McCormick Place Convention Center in Chicago, Illinois.
Avanir Pharmaceuticals (AVNR) stock gained 2.53 percent to $4.45 in the pre-market trading.
Orckit Communications Ltd. (ORCT) stock increased 2.26 percent to $2.71 in the pre-market trading. Loss for the first quarter narrowed to $6.02 million or $0.27 per share from $6.10 million or $0.37 per share last year. Revenue grew to $4.56 million from $1.63 million.
Looking ahead, the company increased its 2011 revenue guidance to $28 million from previous forecast of $25 million, while Street predicts $25.13 million. The company said its revised guidance does not take into account certain opportunities for increased revenue in excess of its forecast, including the addition of new Tier 1 customers as a result of its discussions with prospects and the possible increase in orders from BSNL beyond its initial participation of $16 million in their tender for fiber to the home as per BSNL procurement policy.
Sangamo Biosciences Inc. (SGMO) stock moved up 0.65 percent to $6.22 in the pre-market trading. The company said data from clinical, preclinical and research-stage programs focused on the development of zinc finger DNA-binding protein (ZFP) Therapeutics were described in twenty presentations given by Sangamo scientists and collaborators at the 14th Annual Meeting of the American Society of Gene and Cell Therapy (ASGCT). The meeting was held in Seattle from May 18 to 21.
ASGCT meeting presentations included previously described preliminary clinical data from Sangamo's ongoing Phase 1 clinical trial in HIV/AIDS (SB-728-902) as well as data from preclinical and research-stage human therapeutic programs. Therapeutic areas included ZFN-based approaches to infectious diseases such as HIV/AIDS and monogenic diseases such as hemophilia, ADA-SCID, retinal neurodegeneration and epidermolysis bullosa. Positive preclinical data were also presented from studies of Sangamo's ZFP TF activator of the vascular endothelial growth factor-A (VEGF-A) gene in an animal model of stroke.
Travelzoo Inc. (TZOO) stock tumbled 4.57 percent to $70.02 in the pre-market trading.
Hanwha SolarOne, Ltd. (HSOL) stock fell 4.40 percent to $5 in the pre-market trading.
JDS Uniphase Corp. (JDSU) stock slid 4.23 percent to $19.46 in the pre-market trading.
Aixtron SE (AIXG) stock slid 4.02 percent to $37.05 in the pre-market trading.
Apollo Investment Corp. (AINV) stock decreased 3.93 percent to $10.75 in the pre-market trading.
LM Ericsson Telephone Co. (ERIC) stock declined 3.85 percent to $14.47 in the pre-market trading.