Pre-market Movers In Healthcare Sector: NURO, CGIX, MRNS, ARCT…

stockmarkets dec20 08dec20

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

In the Green

1. NeuroMetrix Inc. (NURO) is up over 85% at $3.99 in pre-market hours Tuesday, on no news. The company has three FDA cleared commercial products. DPNCheck, a point-of-care test used to evaluate peripheral neuropathies, ADVANCE, a point-of-care device used as an aid in diagnosing and evaluating patients suspected of having focal or systemic neuropathies, and Quell 2.0, a wearable, mobile app enabled, neurostimulation device indicated for symptomatic relief and management of chronic pain that is available over-the-counter. In the third quarter of 2020, revenue was $2.0 million, almost flat with $2.1 million reported in Q3 2019.

2. Cancer Genetics Inc. (CGIX), a provider of drug discovery and preclinical oncology and immuno-oncology services, is up over 14% at $2.95 in pre-market trading on no news. In August of this year, the company signed a merger agreement with StemoniX, Inc. Under the terms of the merger agreement, StemoniX will merge with a newly formed subsidiary of Cancer Genetics in an all-equity transaction. The deal is due to close this quarter.

In the Red

1. Obalon Therapeutics, Inc. (OBLN) is down 11% at $2.03 in pre-market trading Tuesday, giving back some of what it gained yesterday. The stock gained more than 114% yesterday on no news. The company's Obalon Balloon System is the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity. The Q3 financial results were reported on November 6. Revenue for the third quarter of 2020 was $44,000, compared to $0.3 million for the third quarter of 2019, with the decrease primarily due to the suspension of operations in the second quarter of 2020.

2. iBio Inc. (IBIO) is down over 7% at $1.37 in pre-market trading today, following a proposed public offering of its common stock.

3. Marinus Pharmaceuticals Inc. (MRNS) is down over 7% at $14.49 in pre-market hours today, on news of an underwritten public offering of its common stock.

4. Arcturus Therapeutics Holdings Inc. (ARCT) is down over 7% at $115 in pre-market trading Tuesday, following the pricing of an underwritten public offering of 1.36 million shares of its common stock at a public offering price of $110.00 each.

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