The top pre-market NASDAQ stock market gainers are: 51job, Sangamo Biosciences, PDL BioPharma, Glu Mobile, and FX Energy. The top pre-market NASDAQ stock market losers are: Santarus, Seagate Technology, Linn Energy, First Solar, and Amazon.com.
51job Inc. (JOBS) stock jumped 7.92 percent to $65 in the pre-market trading. Adjusted earnings for the fourth quarter were 74.66 million yuan or $11.31 million, compared to 52.63 million yuan year ago. Adjusted earnings per ADS amounted to 2.54 yuan or $0.38, compared to 1.90 yuan prior year. Revenue rose to 301.70 million yuan or $45.71 million from 225.96 million yuan. 51job expects first quarter adjusted earnings of $0.36 to $0.39 per ADS and revenue of $46.2 million to $47.7 million.
Sangamo Biosciences Inc. (SGMO) stock climbed 6.82 percent to $9.08 in the pre-market trading. The company said it presented positive preliminary clinical data from novel ZFN therapeutic approach for the treatment of HIV/AIDs at Conference for Retroviral and Opportunistic Infections. The trial is being conducted in immunologic non-responders, HIV-infected subjects who are currently on highly active antiretroviral therapy (HAART) and have undetectable levels of virus but suboptimal CD4+ T-cell counts.
Sangamo said the study is designed to evaluate safety and clinical outcomes of its zinc finger nuclease (ZFN)-generated CCR5-modified, autologous T-cell product (SB-728-T) for the treatment of HIV/AIDS. CCR5 is the major co-receptor used by HIV to infect cells of the immune system.
PDL BioPharma, Inc. (PDLI) stock advanced 5.97 percent to $5.15 in the pre-market session. The company said it entered into a definitive settlement agreement with Novartis AG (NVS) that resolves all disputes between them. PDL BioPharma agreed to dismiss its claims against Novartis in its action in Nevada court, which also includes Genentech, Inc. and F. Hoffmann-La Roche Ltd. as defendants.
Besides, Novartis consented to withdraw its opposition appeal in the European Patent Office challenging the validity of PDL BioPharma's Queen patent in Europe. Also, PDL BioPharma agreed to pay Novartis certain amounts based on net sales of Lucentis made by Novartis during calendar year 2011 and beyond. PDL BioPharma said the settlement with Novartis will not affect its claims against Genentech and Roche in the Nevada state court action.
Glu Mobile, Inc. (GLUU) stock jumped 5.73 percent to $4.98 in the pre-market trading. The company announced the availability of Deer Hunter 3D to Xbox LIVE on Windows Phone 7. Based on Atari's Deer Hunter franchise, Glu's Deer Hunter games represent the best-selling hunting franchise on mobile and have received world-wide recognition from sites including IGN, Gizmodo and Pocket Gamer.
FX Energy Inc. (FXEN) stock gained 5.29 percent to $12.35 in the pre-market trading.
Santarus Inc. (SNTS) stock fell 9.23 percent to $2.95 in the pre-market trading. The company and Pharming Group NV announced the receipt of a refusal to file letter from the FDA for the RHUCIN Biologics License Application, also called BLA, submitted by Pharming. The FDA said the BLA was not sufficiently complete to enable a critical medical review.
The FDA pointed out that the previously conducted studies evaluating RHUCIN for the treatment of acute attacks of Hereditary Angioedema did not provide data for a sufficient number of subjects to support the proposed dose of 50 U/kg and lacked prospective validation of the visual analog scale used in measuring the clinical effects of RHUCIN.
The FDA also provided other comments on the prior clinical studies and indicated that they will provide additional feedback on the design of the ongoing Phase IIIb clinical study, which had been initiated based on previous discussions with the FDA. In addition, the FDA requested the results of the Phase IIIb clinical study be included in any future BLA submission for RHUCIN.
Seagate Technology PLC (STX) stock slid 2.96 percent to $12.45 in the pre-market session.
Linn Energy, LLC (LINE) stock declined 2.32 percent to $38.78 in the pre-market trading. The company said it inked three definitive purchase agreements to acquire oil properties for a total combined contract price of $434 million.
Linn Energy said it plans to conduct a public offering of 14 million units of its limited liability company interests. The company expects to grant the underwriters a 30-day option to purchase up to an additional 2.10 million units.
Net proceeds from the offering are expected to be used to fund a portion of its pending acquisitions of oil properties in the Williston Basin and Permian Basin and to fund its pending tender offer for the company's Senior Notes due 2017 and Senior Notes due 2018 and related expenses.
First Solar, Inc. (FSLR) stock slid 1.81 percent to $152.90 in the pre-market trading.
Amazon.com Inc. (AMZN) stock decreased 1.60 percent to $174.40 in the pre-market session.