Pre-Open Stock Movers 08/29: (MCUR) (HLF) (MYL) Higher; (CZR) (ADMP) (KTOS) Lower (more...)

August 29, 2016 9:29 AM EDT

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Pre-Open Stock Movers:

Macrocure Ltd. (Nasdaq: MCUR) 139% HIGHER; Leap Therapeutics, Inc. and Macrocure Ltd. (Nasdaq: MCUR) announced the signing of a definitive merger agreement. Under the terms of the agreement, Macrocure will become a wholly owned subsidiary of Leap, and Leap will become a public company. In connection with the transaction, Leap will apply to have the shares of the combined entity listed for trading on NASDAQ upon completion of the merger.

CTI BioPharma Corp. (Nasdaq: CTIC) 28.5% HIGHER; announced top-line results from PERSIST-2, a randomized, controlled Phase 3 clinical trial comparing pacritinib, an investigational oral multikinase inhibitor, with physician-specified best available therapy (BAT), including ruxolitinib, for the treatment of patients with myelofibrosis whose platelet counts are less than 100,000 per microliter -- a patient population with high-risk advanced disease. Three hundred eleven (311) patients were enrolled in the study, which formed the basis for the safety analysis. Two hundred twenty-one (221) patients who had a chance to reach Week 24 (the primary analysis time point) at the time the clinical hold was imposed and constituted the intent-to-treat (ITT) analysis population utilized for the evaluation of efficacy. Preliminary results demonstrated that the PERSIST-2 trial met one of the co-primary endpoints showing a statistically significant response rate in spleen volume reduction (SVR) in patients with myelofibrosis treated with pacritinib compared to BAT, including the approved JAK2 inhibitor ruxolitinib (p<0.01). Although the PERSIST-2 trial did not meet the other co-primary endpoint of greater than 50 percent reduction in Total Symptom Score (TSS), the preliminary analysis approached marginal significance compared to BAT (p=0.0791).

Caesars Entertainment (Nasdaq: CZR) 28.1% LOWER; Says Court Denied CEOC Motion to Extend an Injunction Enjoining Lawsuits

Tonix Pharmaceuticals (NASDAQ: TNXP) 11.8% HIGHER; announced that it has received the final meeting minutes from the U.S. Food and Drug Administration (FDA) from an End-of-Phase 2/Pre-Phase 3 meeting. These minutes confirmed the FDA’s acceptance of Tonix’s proposed Phase 3 studies and the planned New Drug Application (NDA) data package to support the registration of TNX-102 SL (cyclobenzaprine HCl sublingual tablets) for the treatment of PTSD.

Adamis Pharmaceuticals (NASDAQ: ADMP) 7.5% LOWER; gives back some of Friday's gains after Mylan announced a generic version of its EpiPen. Adamis is looking to offer an EpiPen alternative.

Kratos Defense & Security (NASDAQ: KTOS) 7% LOWER; KeyBanc downgraded from Overweight to Sector Weight

Can-Fite BioPharma (NYSE: CANF) 5% HIGHER; Rodman & Renshaw assumed coverage with a Buy rating and a price target of $6.

Inovio Pharmaceuticals, Inc. (Nasdaq: INO) 4% HIGHER; announced it has initiated a clinical study of its preventive Zika vaccine (GLS-5700) in 160 subjects in Puerto Rico, where the Zika virus outbreak has been declared a public health emergency. The CDC estimates Zika will infect more than 25% of the Puerto Rican population by year end, providing the potential for this studys placebo control design to provide exploratory signals of vaccine efficacy.

Oclaro (NASDAQ: OCLR) 3.5% HIGHER; Piper Jaffray raises price target to $9

Harley-Davidson (NYSE: HOG) 3% LOWER; Longbow Research downgraded from Neutral to Underperform with a price target of $40.00.

Herbalife (NYSE: HLF) 1.8% HIGHER; Carl Icahn bought another 2.3M shares.

Mylan (NYSE: MYL) 1.7% HIGHER; announced plans to launch the first generic of its own EpiPen amid scrutiny over its pricing practices.

Autodesk (NASDAQ: ADSK) 1% LOWER; Mitsubishi UFJ downgraded from Neutral to Underweight with a price target of $50.00.

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