Morning Buzz: Geeknet, Inc. (GKNT), Cerulean Pharma (CERU), Twitter (TWTR), LivePerson (LPSN), IntelliPharmaCeutics (IPCI)

Shares of Geeknet, Inc. (GKNT) are higher by nearly 120% to $17.26 in pre-market trading on Tuesday after the web-based specialty retailer announced an agreement under which Hot Topic will acquire all of the outstanding shares of Geeknet, Inc. for $17.50 per share. The transaction has a total equity value of $122 million, including $37 million of cash and cash equivalents as of March 31, 2015.

Cerulean Pharma Inc. (CERU) shares surged 10.36% to $6.71 in pre-market trading after the company confirms it has been granted orphan drug designation for CRLX101 for the treatment of ovarian cancer by the FDA.

Cerulean is exploring two combination treatments for relapsed ovarian cancer.

Shares of Twitter, Inc. (TWTR) are up $0.10, or 0.27%, at $36.61 in pre-market trading on Tuesday. Re/Code’s Kara Swisher reports the online social networking service is engaged in an ongoing series of talks to acquire Flipboard in an all-stock deal that would value the company at over $1 billion.

LivePerson Inc. (LPSN) share up $1.15, or 12.86%, to $10.09 as of 8:39 AM ET on software provider Nice Systems (NICE) takeover speculation.

Reuters, citing Calcalist, reports the value of the potential deal as being between $600-$650 million. The publication notes the agreement could take several months to be finalized.

IntelliPharmaCeutics International Inc. (IPCI) shares rocketed more than 18% to $3.67 in pre-market trading after the company announced that the FDA has granted Fast Track Designation for Intellipharmaceutics Rexista(TM) Oxycodone XR Incorporating PODRAS(TM) Technology.

Fast Track is a designation assigned by the FDA in response to an applicant’s request which meets FDA criteria.

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