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Today's Pre-Open Stock Movers
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) 44.3% LOWER; announced that upon the recommendation of the ENDEAVOUR Phase 3 study Data Monitoring Committee (DMC) to suspend dosing, the Company has decided to discontinue development of revusiran, an investigational RNA interference (RNAi) therapeutic that was being developed for the treatment of hereditary ATTR amyloidosis with cardiomyopathy (hATTR-CM). This decision was made yesterday evening and has been communicated to investigators, study sites, and regulatory authorities.
Jaguar Animal Health, Inc. (Nasdaq: JAGX) 18.3% HIGHER; announced that it has signed a non-binding letter of intent (LOI) with Napo Pharmaceuticals, Inc. (Napo) potentially to merge the two companies. Napo focuses on human product development and commercialization from plants used traditionally in rainforest areas, and has provided Jaguar with exclusive worldwide rights for veterinary applications to crofelemer and corresponding rights to all related Napo technology.
Twitter (NYSE: TWTR) 17.2% LOWER; Google and Disney not expected to bid, Re/Code reports
Alliqua BioMedical, Inc. (Nasdaq: ALQA) 17% HIGHER; announced that the Company has signed a definitive agreement to acquire the business of Soluble Systems, LLC (Soluble) through a series of transactions. As part of the transactions, Soluble will contribute and transfer substantially all of its assets into a newly formed subsidiary of Alliqua (New Alliqua) and Alliqua will complete a holding company reorganization resulting in New Alliqua becoming the new public parent of Alliqua. New Alliqua will remain publicly traded and change its name to Alliqua BioMedical, Inc.
SCYNEXIS, Inc. (Nasdaq: SCYX) 15.6% HIGHER; announced the complete results of its two recently completed Phase 2 studies as well as the closing of a $15 million term loan with Solar Capital Ltd. (Nasdaq: SLRC). In the first study, treatment with oral SCY-078 in patients with vulvovaginal candidiasis (VVC), resulted in significantly better clinical cure rates and fewer recurrences of VVC at the four-month follow-up when compared to the standard of care (oral fluconazole). In the second study, which evaluated oral SCY-078 as a step down therapy in patients with invasive candidiasis, oral SCY-078 achieved the target exposure for efficacy and was well-tolerated.
Quantum Corp. (NYSE: QTM) 13% HIGHER; today announced positive preliminary results for the fiscal second quarter 2017, ended Sept. 30, 2016. The company currently expects: Total revenue of approximately $132 million to $134 million, up from $117 million in the fiscal second quarter 2016.1 Scale-out storage and related service revenue of at least $46 million, an increase of more than $16 million. To be breakeven on both a diluted GAAP and diluted non-GAAP basis, compared to a diluted GAAP net loss of $0.04 per share and a diluted non-GAAP net loss of $0.03 per share.
Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) 12.6% LOWER; announced that it intends to offer and sell up to $50,000,000 of shares of its common stock in an underwritten public offering. In connection with this offering, Idera expects to grant the underwriters a 30-day option to purchase additional shares of common stock, equal to up to 15% of the number of shares of common stock sold in the offering. All of the shares in the offering are to be sold by Idera. Idera intends to use the net proceeds from this offering, together with existing cash, cash equivalents and investments, to advance clinical development of certain of its programs. J.P. Morgan and Goldman, Sachs & Co. are acting as joint bookrunning managers for the offering.
Zumiez Inc. (NASDAQ: ZUMZ) 11.2% HIGHER; announced that total net sales for the five-week period ended October 1, 2016 increased 11.5% to $75.0 million, compared to $67.3 million for the five-week period ended October 3, 2015. The Company's comparable sales increased 6.3% for the five-week period compared to a comparable sales decrease of 1.8% in the year ago period. Based primarily on higher than planned sales quarter-to-date the Company is raising its guidance and now expects fiscal 2016 third quarter net sales in the range of $216 to $217 million and net income per diluted share of approximately $0.29 to $0.30, an increase from the previously issued guidance of net sales in the range of $209 to $213 million and net income per diluted share of approximately $0.21 to $0.26. This guidance is now predicated on a comparable sales increase of approximately 2% for the third quarter.
ICU Medical Inc. (Nasdaq: ICUI) 11% HIGHER; ICU Medical and Pfizer Inc. (NYSE: PFE) announced that they have entered into a definitive agreement under which ICU Medical will acquire all of Pfizers global infusion therapy business, Hospira Infusion Systems (HIS), for $1 billion in cash and stock. The Hospira Infusion Systems business includes IV pumps, solutions, and devices that, when combined with ICU Medicals existing businesses, will create a leading pure-play infusion therapy company, with estimated pro forma combined revenues of approximately $1.45 billion based on trailing twelve month results as of June 2016.
Medicines Co. (NASDAQ: MDCO) 9.1% LOWER; weaker amid Alnylam Pharmaceuticals news
Synthetic Biologics, Inc. (NYSE: SYN) 8.5% HIGHER; announced it has been awarded a contract by the Centers for Disease Control and Prevention (CDC). The award will support research conducted during the Company's ongoing randomized, placebo-controlled Phase 2b proof-of-concept clinical study of SYN-004 (ribaxamase), designed to protect the gut microbiome from the unintended effects of certain commonly used intravenous (IV) beta-lactam antibiotics for the prevention of C. difficile infection (CDI), antibiotic-associated diarrhea (AAD) and the emergence of antibiotic-resistant organisms.
JD.com (NASDAQ: JD) 5.5% HIGHER; An amended 13G filing on JD.com (NASDAQ: JD) showed Wal-Mart (NYSE: WMT) raised its stake to 265,310,428 shares, or 10.8%. As part of a June agreement between the two, Walmart received 144,952,250 newly issued JD.com Class A ordinary shares, amounting to approximately 5 percent of total shares outstanding and the companies partnered in several strategic areas.
Ionis Pharmaceuticals Inc (NASDAQ: IONS) 3.9% LOWER; weaker amid Alnylam Pharmaceuticals news
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) 3.6% HIGHER; Axiom Capital upgraded from Sell to Buy with a price target of $10.00 (from $5.00).
Arrowhead Pharmaceuticals (NASDAQ: ARWR) 3.6% LOWER; weaker amid Alnylam Pharmaceuticals news
Smith & Nephew (NYSE: SNN) 3.4% LOWER; Berenberg downgraded from Buy to Hold with a GBP13.40 price target.
Resources Connection (NASDAQ: RECN) 3.1% LOWER; reported Q1 EPS of $0.15, versus $0.19 reported last year. Revenue for the quarter came in at $143.4 million, versus $148.3 million reported last year. Also, announced the unanticipated retirement of its President and Chief Executive Officer (CEO), Anthony Cherbak, 62, due to health considerations, effective October 7, 2016.
Tesla Motors (NASDAQ: TSLA) 2.7% LOWER; Goldman Sachs downgraded from Buy to Neutral with a price target of $185.00 (from $240.00).
Trina Solar (NYSE: TSL) 2.5% HIGHER; Axiom Capital upgraded from Sell to Buy with a price target of $15.00 (from $6.00).
Yum! Brands (NYSE: YUM) 2.2% LOWER; reported Q3 EPS of $1.09, $0.01 worse than the analyst estimate of $1.10. Revenue for the quarter came in at $3.32 billion versus the consensus estimate of $3.49 billion.
Lear (NYSE: LEA) 2.2% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $107.00 (from $116.00)
Smith & Wesson Holding (NASDAQ: SWHC) 2.2% LOWER; Wunderlich Securities downgraded from Buy to Hold with a price target of $29.00 (from $36.00).
American Express (NYSE: AXP) 1.6% LOWER; Nomura Securities downgraded from Neutral to Reduce with a price target of $56.00 (from $62.00),
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