What’s moving these stocks in the pre-market hours today?
In the Green
1. VBI Vaccines Inc. (VBIV) is up over 7% at $4.55 in pre-market trading Friday, adding to yesterday’s gain of 32%. The company has selected two coronavirus vaccine candidates VBI-2901 and VBI-2902 to advance into an adaptive Phase 1/2 clinical study. This study is expected to begin by the end of 2020, subject to regulatory approvals. An analyst at Raymond James has raised the price target of the stock to $9 from $8.
2. ADMA Biologics Inc. (ADMA) is up over 6% at $2.94 in pre-market trading on no news. The company joined the CoVIg-19 Plasma Alliance in May and has been collecting plasma from COVID-19 convalesced patients. The CoVIg-19 Plasma Alliance has been established to accelerate the development of a plasma-derived hyperimmune globulin therapy for COVID-19. Total revenues for the quarter ended June 30, 2020 were $7.8 million compared to $6.6 million in the year-earlier period, primarily due to sales of BIVIGAM, ASCENIV and intermediates, compared to no sales from these products during the same prior-year period.
3. Neurocrine Biosciences Inc. (NBIX) is up more than 5% at $120 in pre-market hours today. In the second quarter ended June 30, 2020, the results of which were reported earlier this month, total revenues were $302.4 million compared to $183.5 million in the year-earlier quarter.
In the Red
1. Oncternal Therapeutics Inc. (ONCT) is down over 12% at $2.18 in pre-market hours Friday. The company has increased the size of the previously announced bought deal to $4.5 million from $3.5 million. As per the revised deal, 2.14 million shares of the company’s common stock will be sold at a price of $2.10 per share, less underwriting discounts, and commissions. The offering is expected to close on or about September 1, 2020.
2. Novavax Inc. (NVAX) is down over 2% at $104.40 in pre-market hours today, adding to yesterday’s loss of 6%. The company’s COVID-19 vaccine candidate NVX-CoV2373 is under phase II portion of phase I/II trial, with interim data expected next quarter. The filing of application seeking FDA approval for NVX-CoV2373 is reportedly planned for December 2020.
Source: Read Full Article