Pre-market Movers In Healthcare Sector: KZIA, TRVN, SNSS, OCGN, GLPG...

stockmarkets jan22 20aug20

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

In the Green

1. Kazia Therapeutics Limited (KZIA) is up more than 51% at $9.25 in pre-market hours Thursday, following the FDA's Fast Track Designation for its drug candidate Paxalisib in the treatment of glioblastoma, a type of brain cancer. Paxalisib is under a phase II clinical trial in newly diagnosed glioblastoma. Interim data from this study were reported in June, with further data anticipated in the coming months, and completion of the trial expected in early 2021. Paxalisib is also under a phase I study in Diffuse Intrinsic Pontine Glioma (DIPG), a rare and highly-aggressive childhood brain cancer, with initial efficacy data anticipated during the second half of this year.

2. Trevena Inc. (TRVN) is up more than 7% at $2.12 in pre-market trading. The company is scheduled to make a presentation at the Virtual JMP Securities CNS Forum today. Trevena secured FDA approval for OLINVYK in adults for the management of acute pain severe enough to require an IV opioid analgesic on Aug.10.

3. Sunesis Pharmaceuticals Inc. (SNSS) is up over 5% at $0.29 in pre-market hours today. 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. China SXT Pharmaceuticals Inc. (SXTC) is up over 4% at $0.40 in pre-market trading on no news.

5. Ocugen Inc. (OCGN) is up over 4% at $0.50 in pre-market trading Thursday. The company's gene therapy product candidate OCU400 is being explored in the indications of RHO mutation-associated retinal degeneration, CEP290 mutation-associated retinal degeneration, and NR2E3 mutation-associated retinal degeneration. This product is under pre-clinical testing. The company is scheduled to make a presentation at the World Orphan Drug Congress USA 2020 Conference, highlighting its breakthrough modifier gene therapy platform, on August 24.

6. Galapagos NV (GLPG) is up over 4% at $147 in pre-market hours today, gaining some of what it lost yesterday. The company's shares were down over 25% yesterday on disappointing news of the FDA denying approval for Filgotinib, proposed for the treatment of moderately to severely active rheumatoid arthritis. Gilead and Galapagos are collaborative partners in the global development and commercialization of Filgotinib in rheumatoid arthritis and other inflammatory indications.

In the Red

1. 9 Meters Biopharma Inc. (NMTR) is down over 6% at $0.78 in pre-market hours Thursday, giving back some of what it gained yesterday. 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. NovaBay Pharmaceuticals Inc. (NBY) is down over 1% at $1.05 in pre-market hours on no news. On August 18, the company launched Avenova, the only facial spray confirmed through independent laboratory testing to kill the SARS-CoV-2 virus, on Walmart.com.

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