The top after-market NASDAQ Stock Market losers are: pSivida, Alimera Sciences, Abiomed, Exceed Company, Allos Therapeutics, FX Energy, XOMA, Celgene, Dyax, and Marvell Technology Group.
pSivida Corp. (PSDV) lost 34.75 percent to $4.15 in the after-hours trading. Alimera Sciences, Inc. (ALIM) said FDA rejected its new drug application for ILUVIEN, an investigational, sustained drug delivery system that releases sub-microgram levels of fluocinolone acetonide for the treatment of diabetic macular edema. Alimera is collaborating with pSivida in the development of ILUVIEN.
Alimera Sciences, Inc. (ALIM) plunged 28.70 percent to $8 in the after-market session. The company said FDA rejected its new drug application for ILUVIEN, an investigational, sustained drug delivery system that releases sub-microgram levels of fluocinolone acetonide for the treatment of diabetic macular edema. Alimera is collaborating with pSivida Corp. (PSDV) in the development of ILUVIEN.
The FDA is also seeking additional information regarding controls and specifications concerning the manufacturing, packaging and sterilization of ILUVIEN, which Alimera is in the process of compiling.
The FDA had observed deficiencies in current good manufacturing practices during its facility inspections of two of Alimera's third-party manufacturers, which were completed in August and September of 2010, and that all facilities and controls will need to comply with cGMP. Alimera's third-party manufacturers are in the process of resolving these deficiencies.
Abiomed Inc. (ABMD) plummeted 10.10 percent to $8.59 in the after-hours trading.
Exceed Company Ltd. (EDSWW) fell 5.53 percent to $3.55 in the after-market session.
Allos Therapeutics, Inc. (ALTH) dropped 4.71 percent to $4.45 in the after-hours trading.
FX Energy Inc. (FXEN) tumbled 4.61 percent to $6.11 in the after-market session. The company said in a regulatory filing that it entered into an at-the-market issuance sales agreement with McNicoll, Lewis & Vlak LLC whereby it may issue and sell common stock having aggregate sales proceeds of up to $50 million from time to time through McNicoll, Lewis & Vlak acting as agent.
XOMA Ltd. (XOMA) slid 2.23 percent to $7 in the after-hours trading. The company said in a regulatory filing that it has appointed Wells Fargo Shareowner Services as its new transfer agent, rights agent and registrar. Effective December 21, registered shareholders' share and investment information was automatically transferred to Wells Fargo Shareowner Services for ongoing service.
Celgene Corp. (CELG) declined 2.04 percent to $58.47 in the after-market session.
Dyax Corp. (DYAX) decreased 1.59 percent to $2.16 in the after-hours trading. The company said in a regulatory filing that it has entered into executive retention agreements with each of its four executive officers, namely chief executive officer Gustav Christensen, chief financial officer George Migausky, executive bice president corporate development and general counsel Ivana Magovcevic-Liebisch, and executive vice president and chief research and development officer William Pullman.
Marvell Technology Group Ltd. (MRVL) moved down 1.48 percent to $18.65 in the after-market session. Karl Motey, an independent consultant in California, pleaded guilty and agreed to cooperate with federal prosecutors in a widening U.S. investigation of insider trading on Wall Street, the Bloomberg reported.
Motey pleaded guilty in federal court in Manhattan on Dec. 14 to conspiracy and securities fraud, according to court papers made public today. He got secret tips from multiple sources at Marvell Technology and provided the information to hedge fund clients, according to the charging document.