Pre-market Movers In Healthcare Sector: DRAD, SUPN, ARGX, AZN, APVO…
What’s moving these stocks in the pre-market hours today?
In the Green
1. Digirad Corporation (DRAD) is up over 25% at $3.20 in pre-market trading Wednesday, following news that it has entered into a Stock Purchase Agreement to sell its DMS Health Technologies Inc. business unit for $18.75 million. The deal is expected to close in January 2021.
2. Supernus Pharmaceuticals, Inc. (SUPN) is up more than 20% at $21.94 in pre-market hours today, following its third quarter financial results and upwardly revised revenue outlook for the year. The FDA decision on the company’s drug candidate SPN-812, proposed for the treatment of children and adolescents with attention deficit hyperactivity disorder, is slated for November 8.
3. argenx SE (ARGX) is up more than 6% at $273.81 in pre-market hours today on no news. The company is on track to file its Biologics License Application for Efgartigimod in generalized myasthenia gravis to the FDA by end of 2020.
4. AstraZeneca PLC (AZN) is up over 3% at $53.59 in pre-market hours today. The company is slated to report third-quarter financial results tomorrow (Nov.5).
5. ObsEva SA (OBSV) is up more than 3% at $1.99 in pre-market hours on no news. The company is scheduled to host a live symposium and present oral communication at SEUD Online Week 2020 tomorrow (Nov.5). The company will present the positive results from PRIMROSE 2, a phase III clinical trial comparing its investigational drug Yselty (Linzagolix) at different dose regimens versus placebo in the treatment of heavy menstrual bleeding due to uterine fibroids tomorrow. ObsEva is planning to make regulatory submissions for Yselty to the European Medicines Agency in the fourth quarter and to the FDA in the first half of 2021.
6. Evoke Pharma Inc. (EVOK) is up over 2% at $3.55 in pre-market trading today on no news. The company commercially launched Gimoti nasal spray for the relief of symptoms in adults with acute and recurrent diabetic gastroparesis as recently as late last month. Gimoti secured FDA approval in June of this year.
In the Red
1. Aptevo Therapeutics Inc. (APVO) is down over 8% at $10.27 in pre-market trading today, giving back some of what it gained yesterday. The stock was up more than 78% yesterday after the company reported that complete remission has been observed in a patient in a Phase 1/1b trial of APVO436 in acute myeloid leukemia (AML) and myelodysplastic syndrome patients.
2. Acorda Therapeutics Inc. (ACOR) is down over 9% at $0.98 in pre-market trading Wednesday. The company disclosed its financial results for the third quarter ended September 30, 2020 after the bell yesterday. The total net revenue in Q3, 2020, increased to $53 million from $47.7 million in the year-ago same quarter. However, the product revenue, which comprises of Inbrija and Ampyra, were $34.6 million in Q3, 2020, down from $44.8 million in Q3, 2019.
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