Pandora Media Gains; Listener Hours Rise 14% in March

Pandora Media (P) shares were higher more than 3% in recent pre-market trade after saying that listener hours rose 14% to 1.71 billion in March while the share of the total U.S. radio listening rose to 9.11% from 8.05% a year ago.

The internet radio service said active listeners amounted to 75.3 million and the end of March, up 8% from 69.5 million in the same period a year ago.

Pandora will discontinue monthly disclose of key audience metrics and the final release will be provided in June for May.

P is trading in the upper half of the 52-week range between $12.66 and $40.44.

In Other Market News

Celldex Therapeutics Inc. (CLDX) rose in pre-market trading after saying research data for an experimental cancer drug will be presented at a conference.

The biotech company will discuss findings from a study of anti-tumor activity of CDX-014, an antibody-drug conjugate that targets the cancer protein TIM-1.

The American Association of Cancer Research conference will be in San Diego on April 5-9.

Celldex rose 0.6% in early trading to $17.90 a share. It has traded from $10.73 to $38.84 in the past 52 weeks.