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Insmed (NASDAQ: INSM) shares jumped 31.09% to $16.34 after the company announced that the FDA granted Arikayce breakthrough therapy designation.

EnteroMedics (NASDAQ: ETRM) climbed 17.11% to $1.78 after the company reported that the FDA Advisory Committee has recommended VBLOC vagal blocking therapy for the treatment of obesity.

Zalicus (NASDAQ: ZLCS) rose 13.60% to $1.42 after the company reported that it has licensed Sodium Channel Pain Modulation program to Anabios.

MeetMe (NASDAQ: MEET) shares climbed 12.44% to $2.17. Wunderlich Securities analyst Blake T. Harper initiated coverage on MeetMe with a Buy rating and $4.50 price target.

Methes Energies International (NASDAQ: MEIL) rose 11.27% to $2.27 after the company finalized agreement to supply over $6 million of biodiesel to US customers by September 30.

Adobe Systems (NASDAQ: ADBE) climbed 8.02% to $72.96 after the company reported stronger-than-expected second-quarter earnings. Adobe reported its adjusted earnings of $0.37 per share, beating analysts' estimates of $0.30 per share.

Air Products & Chemicals (NYSE: APD) gained 6.64% to $129.67 after the company named Rockwood's Seifi Ghasemi as its new chairman, president and CEO.

LiveDeal (NASDAQ: LIVE) shares rose 6.61% to $4.03 after the company announced a 400%rise in number of restaurants registering with 'deal engine' last several months.

FedEx (NYSE: FDX) rose 4.06% to $146.01 after the company reported upbeat quarterly results. The company posted FQ4 earnings of $2.46 per share, beating analysts' estimates of $2.36 per share.

BlackBerry (NASDAQ: BBRY) shares increased 3.23% to $8.31 on Amazon (NASDAQ: AMZN) Appstore deal.

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