NEW YORK CITY (dpa-AFX) - What's moving these stocks in the pre-market hours today?
In the Green
1. Cassava Sciences Inc. (SAVA) is up over 21% at $10.74 in pre-market trading Friday. Last month, the company announced final results of a phase IIb study of Sumifilam 50 mg or 100 mg twice daily for 28 days in patients with Alzheimer's disease, with the treatment group showing statistically significant improvements in biomarkers of the Alzheimer's disease compared to the placebo group. The results of this study are scheduled to be presented on November 7 at the 13th international conference on Clinical Trials on Alzheimer's Disease. Yesterday, analyst Charles Duncan of Cantor Fitzgerald initiated coverage on the stock with an Overweight rating and a price target of $24.
2. Kitov Pharma Ltd (KTOV) is up over 11% at $4.98 in pre-market hours today on no news. A one-for-ten reverse split of the company's American Depositary Shares was implemented on August 21, 2020. A phase I/II clinical study of NT219 in advanced cancer patients is underway, with topline results anticipated in the second half of 2021.
3. Prevail Therapeutics Inc. (PRVL) is up over 8% at $11 in pre-market hours today. The company's lead program is PR001 under a phase I/II trial in Parkinson's disease patients with GBA1 mutations (PD-GBA), dubbed PROPEL.
4. Immutep Limited (IMMP) is up over 7% at $1.90 in pre-market hours today, following the start of an investigator-initiated phase II study of its lead product candidate Eftilagimod alpha in patients hospitalized with COVID-19 at the University Hospital Pilsen, Czech Republic. Initial interim results from this study, dubbed EAT COVID, are expected in early 2021.
5. Gilead Sciences Inc. (GILD) is up over 5% at $64.03 in pre-market hours Friday, following FDA approval of its antiviral drug Veklury (remdesivir) for the treatment of patients with COVID-19 requiring hospitalization. Veklury has already been available in the U.S. under an Emergency Use Authorization for the treatment of hospitalized patients with severe COVID-19 since May 2020.
6. DBV Technologies S.A. (DBVT) is up over 5% at $1.60 in pre-market hours. The company's lead product candidate Viaskin Peanut, a noninvasive, once-daily epicutaneous patch to treat peanut allergies in children ages 4 to 11 years, failed to pass muster with the FDA in August this year.
7. BioNTech SE (BNTX) is up 4% at $90.40 in pre-market trading Friday. The company, along with Pfizer (PFE) is developing BNT162b2, a vaccine candidate against COVID-19. This vaccine candidate is currently being evaluated in a global phase III study that is underway at more than 120 clinical sites worldwide. The companies have initiated rolling submission for BNT162b2 in Europe and Canada. Last week, Pfizer had said that it will apply for emergency authorization use of BNT162b2 vaccine in the U.S. in the third week of November, once the safety milestone is achieved.
In the Red
1. Iterum Therapeutics plc (ITRM) is down over 46% at $0.51 in pre-market trading Friday, following the pricing of a public offering of 26 million ordinary shares, together with warrants to purchase up to 20 million ordinary shares at a combined effective price to the public of $0.65 per ordinary share and associated warrant. The offering is expected to close on or about October 27, 2020.
2. Milestone Pharmaceuticals Inc. (MIST) is down 15% at $5.89 in pre-market hours on news of a proposed public offering of common shares and pre-funded warrants.
3. Adial Pharmaceuticals, Inc. (ADIL) is down 8% at $1.77 in pre-market trading today, giving back some of what it gained yesterday. The stock was up over 12% yesterday on news of the company granting Todos Medical non-exclusive sub-distribution rights to the FDA, EUA authorized, Assure/FaStep point-of-care (POC) COVID-19 antibody tests.
4. Brickell Biotech Inc. (BBI) is down 8% at $0.66 in pre-market hours today, adding to yesterday's loss of 13%. Today, the company has priced an underwritten public offering of 20.83 million shares of common stock or common stock equivalents at a combined offering price of $0.72, for total gross proceeds of roughly $15.0 million.
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