Pre-market Movers In Healthcare Sector: SPPI, MEDS, OCGN, SRNE, CRMD...

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What's moving these stocks in pre-market hours today?

In the Green

1. Spectrum Pharmaceuticals Inc. (SPPI) is up more than 66% at $5.39 in pre-market trading Tuesday, following positive results from Cohort 2 of its phase II clinical trial of Poziotinib in previously treated non-small-cell lung cancer patients with HER2 exon 20 insertion mutations, dubbed ZENITH20. According to the trial results, the median duration of response was 5.1 months, with a median follow up of 8.3 months. The disease control rate (DCR) was 70% and the median progression-free survival was 5.5 months.

2. Trxade Group Inc. (MEDS) is up more than 32% at $8.45 in pre-market trading today, following impressive second-quarter financial results. Revenues for the second quarter of 2020 increased 244% to a record $6.6 million, compared to revenue of $1.9 million in the same quarter last year.

3. Ocugen Inc. (OCGN) is up more than 19% $0.74 in pre-market trading, adding to yesterday's gain of more than 66%. The company's gene therapy product candidate ration OCU400 has been granted Orphan Drug Designation by the FDA in the treatment of RHO mutation-associated retinal degeneration. This represents the third Orphan Drug Designation for OCU400. OCU400, under preclinical testing, is being developed for the treatment of RHO mutation-associated retinal degeneration, CEP290 mutation-associated retinal degeneration, and NR2E3 mutation-associated retinal degeneration.

4. Sunesis Pharmaceuticals Inc. (SNSS) is up over 6% at $0.43 in pre-market trading, adding to yesterday's gain of nearly 16%, on no news.

5. Sorrento Therapeutics Inc. (SRNE) is up over 5% at $8.20 in pre-market trading on no news. Last week, the company signed a letter of intent to acquire SmartPharm, a gene-encoded therapeutics company developing non-viral DNA and RNA gene delivery platforms for COVID-19 and rare diseases. Financial terms were not disclosed. The transaction is expected to close in August 2020.

6. Novan Inc. (NOVN) is up over 4% at $1.03 in pre-market hours Tuesday, adding to yesterday's gain of more than 14%, on no news. The company's advanced candidate is SB206 for the treatment of molluscum. The first patient in an additional phase III pivotal trial for SB206 as a treatment for molluscum, dubbed B-SIMPLE4, is expected to be enrolled in September 2020. If all goes well as planned, top-line efficacy results can be expected in the second quarter of 2021.

7. TCR2 Therapeutics Inc. (TCRR), which gained over 25% yesterday, following positive interim data from phase I portion of its phase I/II trial of solid tumor candidate TC-210, is up more than 4% at $17.10 in pre-market trading Tuesday. On Sunday, the company announced that the first five patients treated in the phase I portion of its phase I/II trial of TC-210 for mesothelin-expressing solid tumors showed tumor regression and that clinical benefit was observed in them. Yesterday, TCR2 announced that it has commenced an underwritten public offering of 6 million shares of its common stock.

In the Red

1. CorMedix Inc. (CRMD) is down 20% at $4.80 in pre-market trading Tuesday, following a proposed public offering of its common stock.

2. MediciNova Inc. (MNOV), which gained more than 95% yesterday, is down over 16% at $9.18 in pre-market trading. The shares had soared as much as over 130% yesterday to touch an intraday high of $13.25, following the company's agreement with BioComo and Mie University, Japan, for joint development of a SARS-CoV-2 vaccine.

3. Allena Pharmaceuticals Inc. (ALNA) is down over 14% at $1.32 in pre-market trading. The company entered into an underwriting agreement with H.C. Wainwright & Co., LLC yesterday, under which the underwriter agreed to purchase 5.12 million shares of Allena Pharma's common stock at a price to the public of $1.30 per share, less underwriting discounts and commissions. The closing of the offering is expected to occur on or about July 30, 2020. The gross proceeds from the offering are expected to be $6.7 million.

4. Arbutus Biopharma Corporation (ABUS) is down over 11% at $3.94 in pre-market trading.

5. Tonix Pharmaceuticals Holding Corp. (TNXP) is down more than 5% at $1.23 in pre-market trading. The company is slated to present preclinical results of TNX-1900 (oxytocin solution for intranasal delivery) at the American Academy of Neurology's first-ever Sports Concussion Conference on July 31.

6. iBio Inc. (IBIO), which lost more than 15% in regular trading yesterday, is down more than 5% at $4.41 in pre-market trading today. The company has two vaccine candidates for COVID-19, under preclinical development. The two COVID-19 vaccine candidates are produced in modified tobacco leaves using a plant-based growing system known as "FastPharming." The vaccine candidates are being tested at Texas A&M University System ("TAMUS") laboratories.

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