What’s moving these stocks in the pre-market hours today?
In the Green
1. Immutep Limited (IMMP) is up 25% at $2.04 in pre-market trading Friday, following new interim data from its ongoing Phase II TACTI-002 study. This study is evaluating the company’s drug candidate Eftilagimod alpha with Merck’s Keytruda in non-small cell lung carcinoma and head and neck carcinoma patients.
2. Cassava Sciences Inc. (SAVA) is up 18% at $8.39 in pre-market trading today, following news that Eric Schoen, the CFO of the company, purchased 12,000 shares at an average price of $7.03 each on September 17. Earlier in the week, the company announced promising final results of a phase IIb study with its lead drug candidate, Sumifilam, in Alzheimer’s disease.
3. Sonoma Pharmaceuticals Inc. (SNO) is up over 12% at $8.41 in pre-market trading, following news that its partner, MicroSafe Group, Dubai, has received approval from Health Canada for their patented and trademarked Nanocyn Disinfectant & Sanitizer. Nanocyn is manufactured by Sonoma using its patented Microcyn Technology. The Nanocyn Disinfectant & Sanitizer secured regulatory approval in Australia in May this year for use against SARS-CoV2 (COVID-19).
4. Kezar Life Sciences Inc. (KZR) is up over 9% at $5.63 in pre-market hours today. The company highlighted data from the Phase 1b portion of the MISSION study demonstrating safety, tolerability, and early efficacy signals of KZR-616 in patients with systemic lupus erythematosus (SLE) and lupus nephritis (LN) at the Pan-American Congress of Rheumatology (PANLAR 2020) yesterday. The data was originally reported in June.
5. Unity Biotechnology Inc. (UBX) is up more than 5% at $3.85 in pre-market hours today on no specific news. The company is all set to advance UBX1325 to phase I clinical development in patients with diabetic macular edema, and expects to dose the first patient in the second half of 2020. Early this week, Unity Biotech announced that it will reduce its workforce by approximately 30% to optimize capital allocation, with cash resources expected to last through mid-2022.
6. Ocugen Inc. (OCGN) is up over 5% at $0.35 in pre-market hours. The company is slated to make a presentation at the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit on September 21 at 1:40 p.m.
7. Tonix Pharmaceuticals Holding Corp. (TNXP) is up over 4% at $1.03 in pre-market trading, adding to yesterday’s gain of 12%. The company is scheduled to host a live webinar on September 24 to discuss “Antibody vs. T Cell Immunity: Is a Single Vaccine Enough to Stop COVID-19?”. The company’s COVID-19 vaccine candidate is TNX-1800, which is under animal testing, with data expected in the fourth quarter of this year.
8. Cardiff Oncology Inc. (CRDF) is up over 3% at $8.42 in pre-market trading Friday, adding to yesterday’s gain of over 40%. The company reported encouraging efficacy signal from the ongoing phase Ib/II study of its investigational drug Onvansertib in combination with FOLFIRI and Avastin for second-line treatment of patients with KRAS-mutated metastatic colorectal cancer yesterday.
9. BioNTech SE (BNTX) is up more than 3% at $62.50 in pre-market hours today. The company signed a share purchase agreement with Novartis AG to acquire their GMP certified manufacturing facility in Marburg, Germany, yesterday. It is said that the manufacturing site will expand BioNTech’s COVID-19 vaccine production capacity by up to 750 million doses per year, or over 60 million doses per month, once fully operational. The lead COVID-19 vaccine candidate – BNT162b2 – being developed in collaboration with Pfizer is under phase III trial, with key data expected by the end of next month.
In the Red
1. Checkpoint Therapeutics Inc. (CKPT) is down over 12% at $3.08 in pre-market trading Friday, following a $20 million bought deal offering. The underwriter has agreed to purchase 7.14 million shares of common stock of the company, at a price to the public of $2.80 per share, less underwriting discounts, and commissions. The offering is expected to close on or about September 22.
2. Adamis Pharmaceuticals Corporation (ADMP) is down over 13% at $0.68 in pre-market trading, following a proposed public offering of its common stock.
3. Inovio Pharmaceuticals Inc. (INO) is down over 6% at $14.69 in pre-market hours, adding to yesterday’s loss of 15%. Jonathan Aschoff, Wall Street Analyst at Roth Capital, affirmed his rating on the stock as “Sell”, with a price target of $11 yesterday.
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