What’s moving these stocks in pre-market hours today?
In the Green
1. Anavex Life Sciences Corp. (AVXL) is up over 29% at $5.90 in pre-market trading Thursday, following regulatory approval in Australia for Alzheimer’s patients to continue treatment with ANAVEX2-73 even after completing the 5-year phase IIa study.
2. Beam Therapeutics Inc. (BEAM) is up more than 22% at $26.15 in pre-market trading today. Beam is a preclinical-stage company developing a new class of precision genetic medicines based on its proprietary base editing technology for serious diseases in the areas of hematology, oncology, liver diseases, and ocular and CNS disorders. The company is slated to make a presentation at the William Blair Biotech Focus Conference 2020 “Gene Editing and Gene Therapy in 2030” Panel on Thursday, Aug. 6, 2020, at 1:00 p.m. ET.
3. Avinger Inc. (AVGR), a commercial-stage medical device company, is up over 10% at $0.57 in pre-market trading. The company’s $6 million underwritten public offering of common stock, wherein 15.8 million shares were offered for sale at $0.38 per share, is scheduled to close today.
4. Bristol-Myers Squibb Company (BMY) is up over 5% at $62.99 in pre-market trading Thursday, following a favorable court ruling in a patent infringement suit related to blood thinner Eliquis.
5. Regulus Therapeutics Inc. (RGLS) is up over 3% at $0.80 in pre-market trading. The company is scheduled to report Q2 financial results next week.
In the Red
1. Actinium Pharmaceuticals Inc. (ATNM) is down 25% at $0.42 in pre-market hours. The company is not in compliance with certain NYSE American exchange continued listing standards because its shares have been selling for less than $1 per share for a substantial period of time. Actinium is planning a reverse split by mid-August.
2. OraSure Technologies Inc. (OSUR) is down more than 19% at $15.84 in pre-market trading today as the company reported a loss for the second quarter on a 25% drop in net revenue.
3. Citius Pharmaceuticals Inc. (CTXR) is down 12% at $1.10 in pre-market trading. Yesterday, the company entered into an underwriting agreement with H.C. Wainwright & Co., LLC under which the underwriter has agreed to purchase 7.96 million shares of common stock at a price of $1.05 per share, less underwriting discounts, and commissions. The closing of the offering is expected to occur on or about August 10, 2020. The underwriter also has a 30-day option to purchase up to an additional 1.19 million shares of common stock.
4. ADMA Biologics Inc. (ADMA) is down more than 7% at $3.33 in pre-market trading. Yesterday, the company reported Q2 financial results. The consolidated net loss for the quarter ended June 30, 2020, was $20.2 million, or $0.23 per share, compared to a consolidated net loss of $13.2 million, or $0.25 per share in the year-ago quarter. Total revenues for the recent second quarter were $7.8 million, compared to $6.6 million for the quarter ended June 30, 2019.
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