The top pre-market NASDAQ Stock Market gainers are: Pozen, Transcept Pharmaceuticals, Yahoo, Infosys, and Research In Motion. The top pre-market NASDAQ Stock Market losers are: ASM International, ARM Holdings, Randgold Resources, ASML Holding, and Rediff.com India.
Pozen Inc. (POZN) stock jumped 50 percent to $3.75 in the pre-market trading. The company said it agreed to sell its U.S. royalty payments rights for its migraine drug MT 400 to Canada-based pension fund CPPIB Credit Investments Inc. As part of the deal, the company said it received $75 million and will also get a 20 percent interest in any royalties obtained by CPPIB Credit Investments from April 1, 2018. MT 400 is Pozen's sumatriptan/naproxen sodium product which incorporates its MT 400 technology, and includes the migraine drug Treximet. It refers to proprietary combinations of a triptan and a non-steroidal anti-inflammatory drug (NSAID). In 2003, Pozen entered into an agreement with GlaxoSmithKline Plc (GSK) for the development and commercialization of proprietary combinations of a triptan and a long-acting NSAID. Treximet was approved by the U.S. Food and Drug Administration in April 2008 for the acute treatment of migraine attacks, with or without aura, in adults.
Transcept Pharmaceuticals, Inc. (TSPT) stock gained 2.32 percent to $7.51 in the pre-market trading. The company said the U.S. Food and Drug Administration has approved Intermezzo ,or zolpidem tartrate sublingual tablet, C-IV for use as needed for the treatment of insomnia when a middle-of-the-night awakening is followed by difficulty returning to sleep. The company said Intermezzo is not indicated for the treatment of middle-of-the-night insomnia when the patient has fewer than 4 hours of bedtime remaining before the planned time of waking. The recommended dose of Intermezzo for non-elderly patients is 1.75 mg for women and 3.5 mg for men, taken only once per night as needed if a middle-of-the-night awakening is followed by difficulty returning to sleep. Transcept said it has agreed to FDA post-marketing commitments including a study of patient compliance with Intermezzo dosing instructions and pediatric use assessment in accordance with the Pediatric Research Equity Act. Transcept announced a collaboration agreement with Purdue for the development and commercialization of Intermezzo in the United States. As per the collaboration agreement, Purdue has until Dec. 8 to notify Transcept whether it will proceed with the commercialization of Intermezzo.
Yahoo Inc. (YHOO) stock increased 1.27 percent to $15.13 in the pre-market trading. Microsoft Corp. (MSFT) has signed a confidentiality agreement with Yahoo Inc, allowing Microsoft to take a closer look at Yahoo's business, according to a Reuters report citing to people familiar with the matter. Microsoft joins several private equity firms that are also poring over Yahoo's books and operations, as they explore various options for striking a deal with the struggling Yahoo.
Infosys Ltd. (INFY) stock moved up 0.69 percent to $49.9721 in the pre-market trading.
Research In Motion Ltd. (RIMM) stock moved up 0.49 percent to $16.28 in the pre-market trading. The shares of the BlackBerry maker regained after it closed Wednesday's regular trading down 3.97 percent at $16.20, which is the lowest in the past 52 weeks.
ASM International NV (ASMI) stock fell 6.57 percent to $23.91 in the pre-market trading.
ARM Holdings plc (ARMH) stock declined 2.65 percent to $25.37 in the pre-market trading.
Randgold Resources Ltd. (GOLD) stock decreased 1.87 percent to $103.95 in the pre-market trading.
ASML Holding NV (ASML) stock declined 1.77 percent to $36.07 in the pre-market trading.
Rediff.com India Ltd. (REDF) stock decreased 1.57 percent to $7.51 in the pre-market trading.