Pre-market Movers In Healthcare Sector: EYPT, CLVS, ABT, VBIV, LPCN…September 3, 2020
What’s moving these stocks in the pre-market hours today?
In the Green
1. EyePoint Pharmaceuticals Inc. (EYPT) is up over 31% at $0.74 in pre-market trading Thursday. The company inked a purchase and marketing agreement with Vantage Outsourcing for DEXYCU 9%, a marketed intraocular product for the treatment of postoperative inflammation, on August 24.
2. Clovis Oncology Inc. (CLVS) is up over 22% at $6.09 in pre-market trading today, thanks to FDA approval of Foundation Medicine’s FoundationOne Liquid CDx to serve as a companion diagnostic to identify patients who may benefit from treatment with specific FDA-approved targeted therapies, including Clovis’ Rubraca. The plasma-based companion diagnostic is expected to be commercially available on Friday, August 28, 2020.
3. VBI Vaccines Inc. (VBIV) is up more than 16% at $3.75 in pre-market hours. Based on data from three preclinical mouse trials, the company has selected two COVID-19 vaccine candidates – VBI-2901 and VBI-2902. The two vaccine candidates are expected to enter into Phase 1/2 human clinical study by this year-end, subject to regulatory approval.
4. Abbott Laboratories (ABT) is up over 9% at $112.80 in pre-market hours. The company’s BinaxNOW COVID-19 Ag Card rapid test for detection of COVID-19 infection has secured Emergency Use Authorization from the FDA. This test, which will be sold for $5, delivers results in just 15 minutes with no instrumentation. The company is hoping to ship tens of millions of tests in September, ramping to 50 million tests a month at the beginning of October.
5. CHF Solutions, Inc. (CHFS), a medical device company, is up more than 5% at $0.38 in pre-market hours. On August 21, the company closed an underwritten public offering of units for gross proceeds of about $14.37 million, including the full exercise of the over-allotment option. The units were priced at $0.45 each.
6. Invitae Corporation (NVTA) is up over 4% at $35.55 in pre-market hours. Early this month, the company announced second-quarter results – reporting lower revenue of $46.2 million due to the pandemic compared to $53.5 million in the year-ago period. However, the company said that it continues to see a solid recovery in volume, improvement in its operating leverage, and the ability to improve revenue generation.
In the Red
1. Cocrystal Pharma Inc. (COCP) is down over 24% at $1.03 in pre-market hours, following an increase in the previously announced bought deal, with the underwriter now agreeing to purchase 14.28 million shares at a price to the public of $1.05 per share. The initial size offering was 9.52 million shares. The offering is expected to close on or about August 31, 2020.
2. Hoth Therapeutics Inc. (HOTH) is down over 11% at $2.30 in pre-market trading Thursday. The company has a joint venture with Voltron Therapeutics Inc. that was formed in March of this year, by the name HaloVax, to jointly develop potential product candidates for the prevention of COVID-19. The joint venture has begun preclinical testing of HaloVax Self-Assembling Vaccine against COVID-19.
3. Inovio Pharmaceuticals Inc. (INO) is down over 4% at $12.17 in pre-market hours. 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.
4. Lipocine Inc. (LPCN) is down over 5% at $1.69 in pre-market hours. The company’s investigational testosterone replacement therapy Tlando, which has been thrice rejected by the FDA, awaits a decision on August 28, 2020. The regulatory agency had turned down Tlando in June 2016, May 2018, and in November 2019.
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