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Pre-market Movers In Healthcare Sector: DFFN, AGTC, VSTM, ADAP, TMBR…

stockmarkets dec31 17feb21 lt

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

In the Green

1. Diffusion Pharmaceuticals Inc. (DFFN) is up 16% in pre-market trading Wednesday, adding to yesterday's gain of over 37%. Yesterday, the company announced that no dose limiting toxicities or serious adverse events were observed in its phase Ib clinical trial of its novel, diffusion-enhancing therapeutic, trans sodium crocetinate ("TSC"), in hospitalized COVID-19 patients with confirmed hypoxemia, the most common cause of tissue hypoxia. That was the trial's primary endpoint. Secondary endpoints include pharmacokinetic measurement of TSC levels after dosing, relative improvements in blood oxygen levels, and certain other clinical parameters related to COVID-19 and are expected to be available early in the second quarter of 2021.

2. Applied Genetic Technologies Corp. (AGTC) is up nearly 14% at $9.16 in pre-market hours today as the company gears up to make a presentation at the OIS Gene Therapy Innovation Showcase, taking place virtually tomorrow, on February 18. The company is developing gene therapies for Achromatopsia and X-linked Retinitis Pigmentosa (XLRP). Two separate Phase 1/2 clinical trials to evaluate the safety and efficacy of AAV gene therapy product candidate in patients with Achromatopsia caused by CNGB3 or CNGA3 mutations, dubbed ACHMB3 and ACHMA3, are underway. The 12-month data from the adult Achromatopsia patients in both trials are expected to be provided next quarter and preliminary 3-month data from the pediatric patients in both trials are anticipated in the fourth quarter. The company's AAV gene therapy product candidate for X-linked Retinitis Pigmentosa is under phase I/II trial with 6 dose groups. The 12-month data for Phase 1/2 dose groups 5 and 6 are expected next quarter (Q2, 2021).

3. Verastem Inc. (VSTM) is up over 13% at $2.82 in pre-market hours Wednesday. The company initiated a phase II registration-directed clinical trial of VS-6766, its RAF/MEK inhibitor, alone and in combination with Defactinib, its FAK inhibitor, in patients with KRAS mutant non-small cell lung cancer (NSCLC) last December. A phase II registration-directed clinical trial of VS-6766 and Defactinib, in patients with recurrent low-grade serous ovarian cancer is also underway. The company ended Sep.30, 2020, with cash, cash equivalents and short-term investments of $205.7 million.

4. Adaptimmune Therapeutics plc (ADAP), a clinical-stage biopharmaceutical company developing novel cancer immunotherapy products, is up nearly 9% at $7.37 in pre-market hours today. The company is scheduled to report financial results and provide business updates for the fourth quarter and year ended December 31, 2020, before the US markets open on Thursday, February 25, 2021.

In the Red

1. AIkido Pharma Inc. (AIKI) is down over 20% at $1.69 in pre-market hours Wednesday. Yesterday, the company increased its previously announced bought deal offering of common stock to $75 million from $10 million. About 47 million shares of common stock are to be sold to the underwriter at a price to the public of $1.60 per share, less underwriting discounts and commissions.

2. Timber Pharmaceuticals Inc. (TMBR) is down over 14% at $2.62 in pre-market hours today, giving back some of what it gained yesterday, on no news. The company is focused on developing treatments for rare and orphan dermatologic diseases. The lead drug candidate is TMB-001, which is under a phase 2b study for the treatment of congenital ichthyosis. Another investigational product TMB-002 for Facial Angiofibromas in Tuberous Sclerosis Complex is also under a phase IIb trial. The topline data from the TMB-001 and TMB-002 trials are expected in Q3, 2021.

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