The top after-market NASDAQ stock market losers are: Abiomed, Fuel Systems Solutions, Geron, Wintrust Financial, Avago Technologies, James River Coal, Micrel, Celgene, United Therapeutics, and Novatel Wireless.
Abiomed Inc. (ABMD) lost 13.86 percent to $10.50 in the after-hours trading. The company said it ended Protect II study of its heart pump Impella as it was unlikely to achieve the primary objectives due to unanticipated confounding variables related to the use of rotational atherectomy in the study. The company said the decision to end the study followed the recommendation of the Data Safety Monitoring Board.
Fuel Systems Solutions, Inc. (FSYS) plunged 6.98 percent to $34 in the after-market session. The company lowered its fiscal 2010 revenue guidance to range of about $420 million to $430 million from previous forecast of $425 million to $450 million, while Street expects $440.61 million.
The company expects fourth quarter revenue to reflect softer European automotive purchases consistent with near-term economic trends in the region partially offset by continued strength in the IMPCO business. In a separate release, Fuel Systems said it has began a public offering of 2 million shares of its common stock.
Geron Corp. (GERN) plummeted 6.86 percent to $5.70 in the after-hours trading. The company said it is offering to sell shares of its common stock in an underwritten public offering.
In a separate release, Geron said it agreed with Angiochem Inc., for a worldwide exclusive license to peptide technology to facilitate the transfer of anti-cancer compounds across the blood-brain barrier. Geron anticipates rapid marketing approval for GRN1005 if the early-stage results were confirmed in the mid-stage study.
Wintrust Financial Corp. (WTFC) fell 5.86 percent to $30.34 in the after-market session. The company said it has began an underwritten public offering of about 3.2 million shares of common stock and a separate offering of 4 million tangible equity units.
Avago Technologies Ltd. (AVGO) dropped 4.58 percent to $25.62 in the after-hours trading. The company announced the sale of 25 million ordinary shares by its certain existing shareholders. Avago will not receive any proceeds from this offering.
James River Coal Co. (JRCC) tumbled 3.21 percent to $22.86 in the after-market session.
Micrel Inc. (MCRL) declined 2.91 percent to $13.01 in the after-hours trading.
Celgene Corp. (CELG) decreased 2.52 percent to $54.24 in the after-market session. The company announced Revlimid data in patients with multiple myeloma evaluating survival rates with low- and high-dose dexamethasone with respect to age.
Celgene also announced data from a second interim analysis of a phase III study of continuous Revlimid for the treatment of patients 65 years or older with newly diagnosed multiple myeloma, show a clinically significant improvement in progression-free survival, the primary endpoint of the study.
In a separate release, Celgene said its next IMiD compound, pomalidomide, was evaluated in three separate investigational trials of patients with multiple myeloma who were relapsed or refractory after prior treatments including lenalidomide, thalidomide and bortezomib.
United Therapeutics Corp. (UTHR) moved down 1.47 percent to $62.23 in the after-hours trading.
Novatel Wireless Inc. (NVTL) fell 1.46 percent to $9.42 in the after-market session.