Early Movers: Pump Up the Volume

NEW YORK (TheStreet) -- Several small-cap stocks were poised to move on above-average volume during Friday's session

Spectrum Pharmaceuticals (SPPI Quote) tumbled by $1.26, or 20.3%, to $4.95 in the premarket session after the Food and Drug Administration said that the company's application for its FUSILEV injection treatment for patients with advanced metastatic colorectal cancer did not demonstrate that it performs better than leucovorin. The FDA recommended that Spectrum meet with them to discuss options for continuing to seek approval of FUSILEV. The three-month average daily volume for Spectrum is 2.4 million shares, according to Yahoo! Finance.

Sunrise Senior Living (SRZ Quote) was primed to extend recent gains, with the stock up 27 cents, or 8.2%, to $3.57 in the premarket session after the company said it will sell 21 wholly owned assisted living communities to BLC Acquisitions, an affiliate of Brookdale Senior Living (BKD Quote), for $204 million. The three-month average daily volume for Sunrise is 1.3 million, according to Yahoo! Finance, although volume spiked to 3.8 million shares on Thursday ahead of the news.

Monterey Gourmet Foods (PSTA Quote) jumped by 28 cents, or 11.8%, to $2.65 in the premarket session after the company said it will be acquired by Pulmuone in a cash tender offer worth $2.70 a share. The three-month average daily volume for Monterey is a meager 27,000, according to Yahoo! Finance.

Stereotaxis (STXS Quote) slumped by 20 cents, or 4.7%, to $4.05 in the premarket session after the company late Thursday said it plans to sell up to $25 million in stock to raise money for sales, marketing, and other purposes. The three-month average daily volume for Stereotaxis is 291,000, according to Yahoo! Finance.

-- Written by Robert Holmes in New York.