What’s moving these stocks in the pre-market hours today?
In the Green
1. Ocugen Inc. (OCGN) is up over 80% at $1.46 in pre-market trading Wednesday, following a binding letter of intent with India’s Bharat Biotech. The companies will co-develop Bharat Biotech’s COVID-19 vaccine candidate, COVAXIN, which is currently in a phase III clinical trial in India involving 26,000 volunteers.
2. Jaguar Health Inc. (JAGX) is up over 44% at $0.57 in pre-market hours today, adding to yesterday’s gain of 16%. Swiss Growth Forum is slated to host investor webinar today at 10:30 AM Eastern time.
3. Onconova Therapeutics Inc. (ONTX) is up over 34% at $0.57 in pre-market hours Wednesday, adding to yesterday’s gain of more than 17%. On Dec.21, the company received FDA clearance to initiate a phase I trial of ON 123300 in patients with HR+ HER2- metastatic breast cancer and other tumors in U.S. The phase I trial is expected to be initiated in the first half of 2021. Yesterday, the stock was upgraded to Outperform from Market Perform by Noble Capital analyst Ahu Demir. The analyst has also raised the price target to $0.46, up from $0.30.
4. Acasti Pharma Inc. (ACST) is up over 40% at $0.35 in pre-market hours on no news. The company has engaged Oppenheimer & Co. Inc. as its financial advisor to assist in the strategic review process.
5. Sorrento Therapeutics Inc. (SRNE) is up over 12% at $8.14 in pre-market hours today, on news of submission of an Emergency Use Authorization Application to the FDA for its COVI-STIX rapid diagnostic test for the detection of the SARS-CoV-2 virus nucleocapsid antigen in nasal samples of patients.
6. Advaxis Inc. (ADXS) is up nearly 13% at $0.35 in pre-market hours today, on receipt of a positive determination from the Nasdaq Stock Market granting approval of the company’s request to transfer its listing to the Nasdaq Capital Market from the Nasdaq Global Select Market. The company’s shares will commence trading on the Nasdaq Capital Market effective at the start of trading tomorrow.
7. Mustang Bio Inc. (MBIO) is up over 6% at $3.57 in pre-market trading Wednesday, following a SEC filing related to insider ownership. According to the SEC filing released yesterday, Litchman Manual, the CEO of the company, purchased 100,000 shares at $2.91 each.
In the Red
1. Spectrum Pharmaceuticals Inc. (SPPI) is down nearly 15% at $3.63 in pre-market hours. Yesterday, the company announced that the pre-specified primary endpoint of objective response rate was not met in Cohort 3 of phase II clinical trial, ZENITH20, which evaluated an oral once daily dose of 16 mg of Poziotinib in previously treated patients with non-small cell lung cancer with HER2 exon 20 insertion mutations. However, Cohort 2 of the trial, which demonstrated a confirmed objective response rate (ORR) of 27.8%, will serve as the basis for NDA submission.
2. Cellectar Biosciences Inc. (CLRB) is down over 11% at $2.45 in pre-market hours today, following a proposed underwritten public offering and concurrent private placement.
3. 9 Meters Biopharma, Inc. (NMTR) is down over 5% at $0.93 in pre-market trading today. 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.
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