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Pre-market Movers In Healthcare Sector: NMTR, VRNA, AXDX, GLPG...

stockmarkets dec18 19aug20 lt

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

In the Green

1. 9 Meters Biopharma Inc. (NMTR) is up over 34% at $0.87 in pre-market trading Wednesday, adding to yesterday's gain of more than 16%. The company's lead product candidate is Larazotide, under a phase III trial for celiac disease, with interim analysis expected in the second half of 2021. A phase 1b/2a clinical trial of NM-002 for the treatment of short bowel syndrome is ongoing, with topline results expected in the first quarter of 2021.

2. Verona Pharma plc (VRNA) is up over 10% at $9.10 in pre-market trading today, on news of initiation of the second, multiple-dose, part of a phase II trial to evaluate the pressurized metered-dose inhaler formulation of Ensifentrine in patients with moderate to severe chronic obstructive pulmonary disease. Results from this part of the study are expected in the first half of 2021.

3. Accelerate Diagnostics Inc. (AXDX) is up more than 9% at $16.23 in pre-market hours today, following FDA Emergency Use Authorization for COVID-19 antibody testing system, i.e. for BioCheck SARS-CoV-2 IgM and IgG Combo Test and fully-automated MS-Fast instrument. Accelerate Diagnostics has an agreement with privately-held BioCheck Inc. to market, commercialize, and support this serology-based testing platform.

4. Precipio Inc. (PRPO) is up over 7% at $2.76 in pre-market trading Wednesday. Yesterday, the stock had lost over 20% of its value on no news.

5. Pulmatrix Inc. (PULM) is up over 6% at $1.33 in pre-market hours today. The company's partner Sensory Cloud is progressing towards the commercialization of FEND, an over the counter nasal hygiene product. FEND is comprised of proprietary Pulmatrix NasoCalm formulations of sodium chloride and calcium chloride salts licensed from Pulmatrix. FEND is expected to be commercially launched in the fall of 2020, with Pulmatrix entitled to receive royalties from worldwide revenues that will be generated.

6. Inovio Pharmaceuticals Inc. (INO) is up over 3% at $14.68 in pre-market hours Wednesday. The company's COVID-19 DNA vaccine INO-4800 is under a phase I study and positive interim data from the first two cohorts in the trial in the U.S. were reported in June. A phase II/III clinical study of INO-4800 in the U.S. is expected to start in September.

In the Red

1. Galapagos NV (GLPG) is down over 27% at $136.93 in pre-market hours, following FDA denying approval for Filgotinib, proposed for the treatment of moderately to severely active rheumatoid arthritis. Gilead and Galapagos NV (GLPG) are collaborative partners in the global development and commercialization of Filgotinib in rheumatoid arthritis and other inflammatory indications. Gilead is responsible for the potential commercialization of Filgotinib in the U.S.

2. Sorrento Therapeutics Inc. (SRNE) is down more than 11% at $10.84 in pre-market hours today. In an SEC filing, yesterday the company had revealed the termination of Jiong Shao as its Executive Vice President and Chief Financial Officer. Najjam Asghar has been appointed as the company's Chief Financial Officer, effective August 18.

3. Gilead Sciences Inc. (GILD) is down more than 5% at $65.50 in pre-market hours today as its investigational drug Filgotinib, proposed for the treatment of moderately to severely active rheumatoid arthritis, failed to secure FDA approval.

4. NovaBay Pharmaceuticals Inc. (NBY) is down over 3% at $1.02 in pre-market hours, giving back some of what it gained yesterday. The company launched Avenova on Walmart.com yesterday, increasing the availability of its unique facial sanitizer confirmed through independent laboratory testing to kill the SARS-CoV-2 virus on hard surfaces. The news had sent the stock up over 10% yesterday.

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