NEW YORK CITY (dpa-AFX) - What's moving these stocks in the pre-market hours today?
In the Green
1. INmune Bio Inc. (INMB) is up more than 96% at $17.39 in premarket trading Tuesday, following promising results from a phase Ib clinical trial of XPro1595 in Alzheimer's disease. The study demonstrated that XPro1595 decreases neuroinflammation by 40.6% in a brain fiber pathway important for learning and memory in patients with Alzheimer's disease.
2. electroCore Inc. (ECOR), which gained more than 100% yesterday, is up over 22% at $2.18 in pre-market trading Tuesday. Yesterday, the FDA granted Emergency Use Authorization for the use of the Company's gammaCore Sapphire CV for the acute treatment of asthma exacerbations in known or suspected COVID-19 patients. This allows gammaCore Sapphire CV use at home or in a healthcare setting.
3. Celyad Oncology SA (CYAD) is up over 16% at $11.45 in pre-market trading today, following the progress in CYAD-211, the Company's first-in-class short hairpin RNA-based allogeneic CAR T candidate and second non-gene edited off-the-shelf program. CYAD-211, which targets B-cell maturation antigen (BCMA), has been given the go-ahead by the FDA to enter phase I trial for the treatment of relapsed/refractory multiple myeloma (r/r MM). The phase I study is expected to begin by year-end 2020.
4. Vaxart Inc. (VXRT), which gained more than 50% yesterday, is up over 6% at $12.05 in pre-market trading. Yesterday, the Company announced that it has raised gross proceeds of approximately $90 million through its At-the-Market (ATM) facility with participation based on interest received from RA Capital Management and Invus. RA Capital Management will own approximately 9.99% of the Company's outstanding common stock. Vaxart is developing an oral vaccine for COVID-19 and is planning to seek FDA clearance for conducting a phase I study of its oral COVID-19 vaccine soon. If all goes well, the clinical study is expected to be initiated this summer. Vaxart is also one of the few companies selected by Operation Warp Speed.
5. BioNTech SE (BNTX) is up over 4% at $81.30 in pre-market trading. Yesterday, the stock gained more than 10% after two of the four investigational vaccine candidates, being developed under the mRNA-based vaccine program, to help protect against SARS-CoV-2, received Fast Track designation from the FDA. This vaccine program is being developed in collaboration with Pfizer. The two vaccine candidates BNT162b1 and BNT162b2 are currently being evaluated in ongoing Phase 1/2 clinical studies in the United States and Germany. Early data from the U.S. Phase 1/2 study for BNT162b1 reported on July 1 were promising. Early data from the German trial of BNT162b1 are expected to be released in July.
In the Red
1. Equillium Inc. (EQ), which gained over 730% yesterday, is giving back some of its gains today. In pre-market trading, the stock is down more than 23% at $20.30. Yesterday, the Company's partner Biocon reported promising clinical trial results of Itolizumab in patients hospitalized with COVID-19. Equillium acquired the exclusive rights to develop and commercialize Itolizumab for the US and Canada markets from Biocon in May 2017. This licensing agreement was expanded to include Australia and New Zealand in December 2019. A global randomized controlled clinical trial of Itolizumab in COVID-19 patients is being planned by Equillium.
2. Iterum Therapeutics plc (ITRM) is down more than 15% at $0.96 in premarket trading. Yesterday, the Company announced the record date for its planned rights offering as August 5, 2020.
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