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Pre-market Movers In Healthcare Sector: AZRX, ABUS, MRNA, MNK, TRVN…

stockmarkets dec26 12aug20 lt

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

In the Green

1. AzurRx BioPharma Inc. (AZRX) is up over 27% at $1.29 in pre-market trading Wednesday, following positive results from the first five patients in its phase II combination therapy trial of MS1819 for the treatment of severe exocrine pancreatic insufficiency (EPI) in patients with cystic fibrosis. Topline data from the full dataset is expected in the first quarter of next year.

2. Arbutus Biopharma Corporation (ABUS) is up 27% at $4.37 in pre-market trading. In a patent suit with Moderna Inc. (MRNA) over a drug-delivery technology, the U.S. Patent Trial and Appeal Board had ruled in favor of Arbutus last month.

3. Regional Health Properties Inc. (RHE) is up over 13% at $1.98 in pre-market trading today. In the second quarter ended June 30, 2020, net loss shrunk to $1.84 million or $1.09 per share on total revenue of $4.54 million. This compared with a net loss of $3.49 million or $2.07 per share and revenue of $5.30 million in the year-ago quarter.

4. Moderna Inc. (MRNA) is up more than 9% at $75 in premarket hours Wednesday, following a supply agreement with the U.S. Government for initial 100 million doses of mRNA-1273, the company's mRNA vaccine against COVID-19. A phase III study of mRNA-1273, being conducted in collaboration with NIH and BARDA, is expected to complete enrollment in September 2020.

5. iBio Inc. (IBIO) is up over 8% at $2.99 in premarket trading. The company has two vaccine candidates for COVID-19, both of which are under preclinical development. iBio is also investigating an array of adjuvants in combination with its proprietary lichenase carrier molecule ("LicKM") fused to a coronavirus subunit protein ("IBIO-201"). Ten distinct preclinical study arms for the IBIO-201 antigen-adjuvant combinations have been concluded.

6. Mallinckrodt plc (MNK) is up over 6% at $1.49 in premarket trading today. The Biologics License Application for StrataGraft, an investigational regenerative skin tissue therapy in development, for the treatment of adult patients with deep partial-thickness thermal burns, is under FDA review, with a decision expected on February 2, 2021. When reporting its second-quarter results early this month, the company revealed that it been working with external advisors to explore a range of options, including a bankruptcy filing.

7. NovaBay Pharmaceuticals Inc. (NBY) is up over 5% at $1.08 in premarket trading. Last week, the company reported strong financial results for the second quarter with product revenue increasing 122% and operating loss narrowing 21% over the prior-year period, while also improving its cash position.

In the Red

1. Trevena Inc. (TRVN) is down over 14% at $2.35 in premarket trading today, adding to yesterday's loss of more than 12%, following a proposed public offering of common stock. The company secured FDA approval for its OLINVYK in adults for the management of acute pain severe enough to require an IV opioid analgesic on Aug.10.

2. T2 Biosystems Inc. (TTOO) is down over 7% at $1.73 in premarket trading Wednesday, following second-quarter financial results. Although total revenue for the second quarter of 2020 was $2.6 million, an increase of 41% compared to the prior-year period, product revenue was $1.0 million, a decrease of 18% compared to the prior-year period driven by lower instrument sales to international markets.

However, for the full year 2020, T2 Biosystems expects total revenues of between $18.0 million to $20.0 million, including product revenues between $13.0 million to $14.0 million and research and contribution revenues between $5.0 million to $6.0 million. In February, when reporting fourth-quarter 2019 financial results, the company had projected revenue for the full year 2020 to range from $14.0 million to $17.0 million, including product revenue between $8.0 million and $10.0 million and research and grant contribution revenue of $6.0 million to $7.0 million.

3. Sunesis Pharmaceuticals Inc. (SNSS) is down over 7% at $0.30 in premarket trading today. The company reported financial results for the second quarter ended June 30, 2020, yesterday. Last month, the company had announced a 30% reduction in its workforce to focus on the development of SNS-510, which is believed to have potential in both solid and hematologic malignancies. Sunesis is conducting an Investigational New Drug-enabling program for SNS-510.

4. Adamis Pharmaceuticals Corporation (ADMP) is down more than 5% at $1.08, adding to yesterday's loss of over 7%. It was only last week did the company regain compliance with the NASDAQ minimum bid price requirement.

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