Pre-market Movers In Healthcare Sector: UROV, NAVB, BNGO, DFFN, KROS…
What’s moving these stocks in the pre-market hours today?
In the Green
1. Urovant Sciences Ltd. (UROV) is up over 84% at $15.31 in pre-market trading Friday, on news of the company getting acquired by its largest investor Sumitovant Biopharma for $16.25 per share or approximately $584 million in total equity value in an all-cash merger. The merger of Urovant Sciences with Sumitovant Biopharma is expected to be completed in the first quarter of 2021.
2. Navidea Biopharmaceuticals Inc. (NAVB) is up over 34% at $3.01 in pre-market hours today, following positive results from an analysis of 16 subjects who have completed Arm 3 of its ongoing NAV3-31 phase IIb study. The NAV3-31 phase IIb study is designed to evaluate the reliability and sensitivity of Tilmanocept Uptake Value (TUV) on Tc 99m Planar Imaging in healthy controls and subjects with active rheumatoid arthritis.
In the Red
1. Cassava Sciences Inc. (SAVA) is down over 21% at $8.76 in pre-market trading Friday, following a proposed public offering of its common stock. On November 4, the company reported encouraging additional clinical data from a phase IIb study of Sumifilam, its lead drug candidate, in patients with Alzheimer’s disease, sending the stock up more than 25% to close at $11.54.
2. Biocept Inc. (BIOC) is down over 18% at $5.01 in pre-market hours today, giving back some of what it gained yesterday. The stock was up over 24% yesterday after the company announced that its third quarter revenues increased more than four-fold over the year-ago quarter to $6.6 million due to its decision to perform and offer COVID-19 RT-PCR testing.
3. IMAC Holdings Inc. (IMAC) is down over 15% at $1.28 in pre-market hours today, giving back some of what it gained yesterday. The stock was up more than 83% yesterday on news of the company expanding its footprint in Missouri, with the acquisition of Lockwood Chiropractic in Webster Groves. Lockwood Chiropractic is a chiropractic clinic with six-figure revenue.
4. Bionano Genomics Inc. (BNGO) is down over 11% at $0.50 in pre-market hours, following a wider loss and 33.7% drop in revenue in the third quarter ended September 30, 2020.
5. Allied Healthcare Products Inc. (AHPI) is down more than 6% at $7.35 in pre-market hours Friday, giving back some of what it gained yesterday.
6. Diffusion Pharmaceuticals Inc. (DFFN) is down over 6% at $0.72 in pre-market hours today, following certain updates on its development program for lead product candidate, trans sodium crocetinate (“TSC”), which is being developed to enhance the diffusion of oxygen to tissues with low oxygen levels, also known as hypoxia, a serious complication of many of medicine’s most intractable and difficult-to-treat conditions. A phase Ib clinical trial evaluating TSC in hospitalized COVID-19 patients is underway.
7. Aytu BioScience Inc. (AYTU) is down more than 5% at $0.97 in pre-market hours Friday. Yesterday, the company reported financial results for its fiscal first quarter 2021, for the three month period ending September 30, 2020. The fiscal Q1 2021 net loss narrowed to $4.31 million or $0.04 per share on revenue of $13.5 million. This compared with a net loss of $4.93 million or $0.32 per share and revenue of $1.44 million in the year-ago quarter.
8. Keros Therapeutics Inc. (KROS) is down over 4% at $52.05 in pre-market hours, following the pricing of its public offering of 2.6 million shares of common stock at a price of $50.00 each. The gross proceeds from the offering are expected to be $130.0 million. The offering is slated to close on November 17.
9. Abcam plc (ABCM) is down over 3% at $18.19 in pre-market hours on no news. The company is a supplier of protein research tools to life scientists.
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