Here's Why pSivida And Alexza Are Skyrocketing

Top pre-market gainers include pSivida Corp.

, with shares surging to 42.16 percent to $5.26 and Alexza Pharmaceuticals, Inc.

shares which climbed 52.62 percent

. PSDV's stock has a new high for the year, following the company's announcement of having href="http://finance.yahoo.com/news/psividas-medidur-meets-primary-efficacy-120000687.html">positive topline results

from its first Phase 3 clinical trial evaluating the safety and efficacy of Medidur. for the treatment of chronic noninfectious uveitis affecting the posterior of the eye (posterior uveitis). Dr. Glenn Jaffe, principal investigator of the trial and Chief of the Division of Retinal Ophthalmology said "The results of this Phase 3 trial are extraordinary. With a single injection, Medidur showed the ability to control the recurrence of posterior uveitis, improve visual acuity and prevent vision loss." Alexza Pharmaceuticals also made an announcement that it has released its href="http://finance.yahoo.com/news/alexza-pharmaceuticals-announces-interim-results-211000283.html">interim results

of its Phase 2a study of AZ-002 (Staccato® alprazolam) in epilepsy patients. AZ-002 produced a dose-related decrease in mean Standardized Photosensitivity Range (SPR), the primary endpoint in the study. The AZ-002 medicine is being developed for epilepsy in patients with acute repetitive seizures (ARS). The company's return on investment to date is -309.10 percent. On Monday, Alexza Pharmaceuticals shares closed at $0.88. The company's monthly performance is currently at -9.21 percent, while its year to date performance is -41.07 percent.