The top pre-market NASDAQ stock market gainers are: NPS Pharmaceuticals, DepoMed, Xenoport, Sohu.com, and Glu Mobile. The top pre-market NASDAQ stock market losers are: Mattson Technology, Partner Communications, Savient Pharmaceuticals, Silicom, and CIENA.
Shares of NPS Pharmaceuticals, Inc. (NPSP) jumped 29.43 percent to $9.85 in the pre-market session, as it said its Phase 3 pivotal study of GATTEX met the primary efficacy endpoint of reducing parenteral nutrition or PN dependence in patients with adult short bowel syndrome. The syndrome is a highly disabling condition that can impair a patient's quality-of-life and lead to serious life-threatening complications.
DepoMed Inc. (DEPO) stock climbed 28.21 percent to $8 in the pre-market trading, following FDA approval of its Gralise Tablets for once-daily treatment of post-herpetic neuralgia. The approval triggers a milestone payment of $48 million from Abbott Laboratories (ABT) to Depomed. Post-herpetic neuralgia is a persistent neuropathic pain condition caused by nerve damage after a shingles or herpes zoster viral infection and afflicts about 1 in 5 patients diagnosed with shingles in U.S.
Xenoport, Inc. (XNPT) stock gained 5.77 percent to $8.25 in the pre-market trading.
Shares of Sohu.com Inc. (SOHU) advanced 5.04 percent to $77.60 in the pre-market session, following its higher-than-expected fourth quarter earnings. Profit was $44.0 million or $1.07 a share, up from $32.4 million or $0.76 a share last year. Adjusted profit was $47.9 million or $1.23 a share. Revenue grew to $173.2 million from $135.8 million. Analysts had expected profit of $0.99 a share on revenue of $167.61 million. Sohu.com expects first quarter adjusted earnings of $1.03 to $1.08 a share and revenue of $164.5 million to $169.5 million, while Street predicts profit of $0.95 a share on revenue of $161.60 million.
Shares of Glu Mobile, Inc. (GLUU) increased 3.06 percent to $3.03 in the pre-market session.
Mattson Technology Inc. (MTSN) stock plunged 6.93 percent to $2.15 in the pre-market session.
Shares of Partner Communications Company Ltd. (PTNR) lost 4.14 percent to $19.21 in the pre-market trading.
Savient Pharmaceuticals, Inc. (SVNT) declined 2.99 percent to $9.10 in the pre-market session. The company said it proposes to offer $125 million of convertible senior notes due 2018. The company expects to use the net proceeds of the offering to commercialize KRYSTEXXA in the United States, including completion of its ongoing efforts to recruit a sales force, expand its marketing organization.
Savient said the proceeds will also be used to establish a commercial infrastructure, to fund clinical development activities directed to potential label expansion for KRYSTEXXA in the United States, to further develop and seek regulatory approval for KRYSTEXXA in jurisdictions outside the United States, particularly in the European Union, and for general corporate purposes, including working capital.
Shares of Silicom Ltd. (SILC) decreased 2.14 percent to $19.66 in the pre-market trading.
CIENA Corp. (CIEN) stock moved down 2.04 percent to $23.02 in the pre-market session.