The top pre-market NASDAQ stock market losers are: Exar, Banner, MannKind, LM Ericsson Telephone, ASML Holding, Avanir Pharmaceuticals, Inspire Pharmaceuticals, Baidu, and Citrix Systems.

Exar Corp. (EXAR) slid 2.50 percent to $7.01 in the pre-market trading.

Banner Corp. (BANR) lost 2.23 percent to $2.19 in the pre-market session.

MannKind Corp. (MNKD) plunged 1.65 percent to $8.35 in the pre-market trading.

LM Ericsson Telephone Co. (ERIC) plummeted 1.45 percent to $11.53 in the pre-market session. The company said it has completed the sale of 100 percent of its shares in Ericsson Federal Inc. to private equity firm Tailwind Capital on December 31. The company did not reveal the terms of the transaction. Ericsson Federal, which is now renamed as Oceus Networks, provides broadband solutions to governments.

ASML Holding NV (ASML) dropped 1.22 percent to $38.19 in the pre-market trading.

Avanir Pharmaceuticals (AVNR) tumbled 1.20 percent to $4.10 in the pre-market session.

Inspire Pharmaceuticals, Inc. (ISPH) fell 1.08 percent to $3.43 in the pre-market trading. The company said its second Phase 3 clinical trial, TIGER-2, for denufosol tetrasodium to treat cystic fibrosis did not achieve statistical significance for its primary efficacy endpoint, which was change from baseline in FEV1 at the Week 48 Endpoint.

Cystic fibrosis is an inherited chronic disease that affects the lungs and digestive systems of about 70,000 people worldwide, according to the Cystic Fibrosis Foundation. A defective gene and the protein it produces cause the body to produce thick, sticky mucus that clogs the lungs, leads to lung infections and obstructs the pancreas.

Baidu, Inc. (BIDU) declined 0.55 percent to $99.18 in the pre-market session.

Citrix Systems, Inc. (CTXS) decreased 0.53 percent to $67.60 in the pre-market trading.

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