What’s moving these stocks in the pre-market hours today?
In the Green
1. Ra Medical Systems Inc. (RMED) is up over 1,800% in pre-market trading Tuesday as a 1-for-25 reverse stock split is all set to be implemented upon market open today.
2. Lexicon Pharmaceuticals Inc. (LXRX) is up over 50% at $1.94 in pre-market hours, following news that its drug candidate Sotagliflozin has aced two phase III studies, dubbed SOLOIST and SCORED, significantly reducing total cardiovascular deaths, heart failure hospitalization and urgent visits in people with type 2 diabetes.
3. Neptune Wellness Solutions Inc. (NEPT) is up more than 10% at $2.11 in pre-market hours today on news that it has received over US$100 million in purchase orders. Neptune is a health and wellness company focused on natural, plant-based, sustainable and purpose-driven lifestyle brands.
4. Vaxart Inc. (VXRT) is up over 7% at $5.96 in pre-market hours today, adding to yesterday’s gain of more than 9%. The company’s phase I study of VXA-CoV2-1, an oral tablet COVID-19 vaccine candidate, is ongoing.
5. BioNTech SE (BNTX) is up more than 2% at $93.56 in pre-market hours today, gaining some of what it lost yesterday. The stock was down over 13% yesterday following promising phase III results of a rival COVID-19 vaccine candidate mRNA-1273, being developed by Moderna. BioNTech, along with Pfizer is developing a COVID shot BNT162b2, which is also under a phase III trial.
6. Celyad Oncology SA (CYAD) is up more than 1.35% at $9.02 in pre-market hours on no news. A phase I study of CYAD-211 for the treatment of relapsed/refractory multiple myeloma, dubbed IMMUNICY-1, is expected to be initiated by the end of this year.
In the Red
1. Alterity Therapeutics Limited (ATHE) is down over 21% at $2.21 in pre-market hours today, giving back some of what it gained yesterday. The stock soared over 146% yesterday after the company’s next generation drug development portfolio focused on neurodegenerative diseases secured a new U.S. patent.
2. iBio Inc. (IBIO) is down over 18% at $1.68 in pre-market hours Tuesday. The stock was up over 15% yesterday, following its financial results for the fiscal quarter ended September 30, 2020.
3. CureVac N.V. (CVAC) is down over 8% at $78.52 in pre-market trading Tuesday, erasing some of the gains made yesterday. The stock was up over 13% yesterday on news that the European Commission is all set to authorize an Advanced Purchase Agreement for CureVac´s mRNA-based COVID-19 vaccine candidate, CVnCoV. The agreement will provide member states of the European Union with up to 225 million doses of the vaccine and includes the option for an additional purchase of 180 million doses.
CVnCoV is under a phase IIa clinical trial in Peru and Panama and a pivotal phase IIb/III clinical study is expected to be initiated by the end of this year. The company will start supplying the vaccine once it has proven to be safe and effective against COVID-19.
4. Tonix Pharmaceuticals Holding Corp. (TNXP) is down over 7% at $0.56 in pre-market trading today. The company reported positive immune response results from COVID-19 vaccine candidate TNX-1800, following vaccination of non-human primates, yesterday. The company expects to advance TNX-1800 to human phase I trials in 2021, when it expects to have Good Manufacturing Practice, or cGMP, quality TNX-1800 available.
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