Pre-market Movers In Healthcare Sector: ANPC, SAVA, FLGT, RMTI, ONTX…
What’s moving these stocks in the pre-market hours today?
In the Green
1. AnPac Bio-Medical Science Co. Ltd. (ANPC) is up over 15% at $5.50 in pre-market trading Tuesday on no specific news. This company has two certified clinical laboratories in China and one CLIA and CAP-accredited clinical laboratory in the United States to perform a suite of cancer screening and detection tests, including CDA (Cancer Differentiation Analysis), biochemical, immunological, and genomics tests. Last month, AnPac secured a 14-month sales contract from Beijing Yuan Jian Health Management Co., Ltd. in China to provide AnPac Defense Medical Examination (ADME) tests to end customers at multiple locations in China.
2. Cassava Sciences Inc. (SAVA) is up more than 10% at $10.81 in pre-market hours on no news. Last week, the company announced final results of a phase IIb study of Sumifilam in patients with Alzheimer’s disease, with the treatment group showing statistically significant improvements in biomarkers of the Alzheimer’s disease compared to placebo group. A long-term, open-label, multicenter, extension study of Sumifilam 100 mg twice daily for 12 months in patients with mild-to-moderate Alzheimer’s disease is ongoing. This trial, which is designed to enroll 100 patients, is currently over 50% enrolled.
3. Fulgent Genetics Inc. (FLGT) is up over 10% at $41.44 in pre-market trading Tuesday, adding to yesterday’s gain of over 9%. Last week, the company announced a new partnership with the State of Utah for COVID-19 testing. For the second fiscal quarter ended June 30, 2020, revenue was $17.3 million, growing 105% year-over-year.
4. Rockwell Medical Inc. (RMTI), a revenue-generating biopharmaceutical company, is up over 8% at $1.53 in pre-market hours today, adding to yesterday’s gain of 9%. The company’s flagship drugs Triferic AVNU and Triferic Dialysate are indicated to replace iron and maintain hemoglobin in adult patients with hemodialysis-dependent chronic kidney disease. Revenue is generated from sales of Triferic as well as from dialysis concentrates products. The New Drug Submission for Triferic AVNU is under review by Health Canada, with a decision expected in mid-2021.
5. Avadel Pharmaceuticals plc (AVDL) is up more than 6% at $6.47 in pre-market hours today. The company’s lead drug candidate is FT218, which has successfully completed a phase III clinical trial for excessive daytime sleepiness and cataplexy in patients with narcolepsy. The company is slated to make a presentation at the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 22 at 10:50 a.m. – 11:30 a.m. ET.
6. Strongbridge Biopharma plc (SBBP) is up over 3% at $2.20 in pre-market hours on no news. The company markets Keveyis for the treatment of primary hyperkalemic and hypokalemic periodic paralysis. The lead drug candidate is RECORLEV for the treatment of endogenous Cushing’s syndrome. A New Drug Application for RECORLEV is slated to be submitted to the FDA in the first quarter of 2021. If approved, RECORLEV is expected to achieve $250 million to $350 million annual peak sales in the U.S. alone.
7. Aytu BioScience Inc. (AYTU), a commercial-stage specialty pharmaceutical company, is up 3% at $1.34 in pre-market hours. The company is scheduled to report results for the fiscal fourth quarter ended June 30, 2020, on September 24, 2020, at 4:30 p.m. ET.
8. Heat Biologics Inc. (HTBX) is up more than 2% at $1.43 in pre-market trading Tuesday. The company’s COVID-19 vaccine candidate is currently under preclinical testing, with phase I trial expected to commence early next year.
In the Red
1. Onconova Therapeutics Inc. (ONTX) is down over 7% at $0.33 in pre-market trading Tuesday, giving back some of what it gained yesterday. The company’s lead drug candidate is Rigosertib and a phase III study of this compound in higher-risk myelodysplastic syndromes (HR-MDS) patients failed to meet the key goal last month. Applications seeking clearance for Rigosertib to participate in federally funded human studies in COVID-19 disease are expected to be reviewed by the federal funding agencies.
2. DBV Technologies S.A. (DBVT) is down over 6% at $1.75 in pre-market hours on no news. The FDA denied approval for the company’s investigational Viaskin Peanut, a non-invasive, once-daily epicutaneous patch to treat peanut allergies in children ages 4 to 11 years, in August.
3. Acasti Pharma Inc. (ACST) is down more than 7% at $0.25 in pre-market trading, giving back some of what it gained yesterday.
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