What’s moving these stocks in pre-market hours today?
In the Green
1. T2 Biosystems Inc. (TTOO) is up over 45% at $2.36 in pre-market trading Tuesday, on news that its molecular diagnostic test T2SARS-CoV-2 Panel is capable of detecting the multiple variants of the SARS-CoV-2 virus most recently identified in the United Kingdom, South Africa, and the United States.
2. Timber Pharmaceuticals Inc. (TMBR) is up 38% at $1.30 in pre-market hours 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.
3. Happiness Biotech Group Limited (HAPP) is up nearly 23% at $2.59 in pre-market hours today, adding to yesterday’s gain of 15%. Yesterday, the company announced that its wholly-owned subsidiary Happy Buy, focusing on e-commerce business, has achieved over 70% growth in December 2020, on a month-on-month basis. The total sales of Happy Buy in December have reached over $5.5 million compared with approximately $3 million in November.
4. Synthetic Biologics Inc. (SYN) is up over 14% at $0.75 in pre-market hours today, on no news. A phase 1b/2a clinical trial of SYN-004 in allogeneic hematopoietic cell transplant (HCT) recipients is expected to commence in the first quarter of 2021. The company has time until May 25, 2021 to regain compliance for continued listing on the NYSE.
5. Vaccinex Inc. (VCNX) is up nearly 10% at $2.61 in pre-market hours Tuesday, on no news. The company’s lead product candidate is Pepinemab which is being evaluated in cancers and neurodegenerative diseases including Huntington’s and Alzheimer’s. A phase I/II study of Pepinemab in combination with Avelumab (EMD Serono) in Non-Small Cell Lung Cancer has been completed. A phase 1b/2 clinical trial of Pepinemab in combination with KEYTRUDA for the treatment of patients with head and neck squamous cell carcinoma Is expected to be initiated in the first half of this year.
6. Pluristem Therapeutics Inc. (PSTI) is up over 3% at $8.80 in pre-market hours, adding to yesterday’s gain of 14%, on no news. According to the investment details released yesterday by ARK Israel Innovative Technology ETF, an exchange traded fund, as of yesterday, it holds 172,845 shares of PSTI, worth nearly $1.47 million.
In the Red
1. Mesoblast Limited (MESO) is down 10% at $10.18 in pre-market trading Tuesday, giving back some of what it gained yesterday. The stock was up over 31% yesterday, following encouraging additional data from the landmark phase III trial of Rexlemestrocel-L in patients with chronic heart failure, dubbed DREAM-HF.
2. Avinger Inc. (AVGR) is down nearly 10% at $1.31 in pre-market hours today, giving back some of what it gained yesterday. Avinger is a commercial-stage medical device company that designs and develops the first-ever image-guided, catheter-based system that diagnoses and treats patients with peripheral artery disease (PAD). The company received FDA clearance for Tigereye CTO last August, with full commercial launch beginning this month. A 510 (k) filing for Lightbox 3 Imaging Console is expected to be submitted in the U.S. in the first half of this year.
3. GeoVax Labs Inc. (GOVX) is down more than 12% at $4.69 in pre-market hours today, erasing some of its gains made yesterday. The stock was up 62% yesterday on news of the company being awarded NIH Grant to advance COVID-19 vaccine development.
4. RedHill Biopharma Ltd. (RDHL) is down nearly 7% at $8.12 in pre-market hours Tuesday. Yesterday, the company announced that it has entered into an underwriting agreement with H.C. Wainwright & Co., LLC under which the underwriter has agreed to purchase 1.27 million American Depositary Shares (ADSs) at a price of $7.84 per ADS, less underwriting discounts and commissions.
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