Pre-Open Stock Movers 09/20: (ALNY) (KPTI) (GEMP) Higher; (BBBY) (IONS) (GIS) Lower (more...)

September 20, 2017 9:29 AM

Today's Pre-Open Movers

Alnylam Pharma (NASDAQ: ALNY) 31.3% HIGHER; the company and partner Sanofi announced that the APOLLO Phase 3 study of patisiran, an investigational RNAi therapeutic being developed for patients with hereditary ATTR amyloidosis with polyneuropathy, met its primary efficacy endpoint and all secondary endpoints.

Cesca Therapeutics Inc. (NASDAQ: KOOL) 15.1% HIGHER; announced financial and operating results for the fiscal year ended June 30, 2017 and provided a corporate update.

Karyopharm Therapeutics Inc. (NASDAQ: KPTI) 15% HIGHER; reported a successful outcome from the Phase 2 portion of the SEAL study evaluating the activity of selinexor (KPT-330), the Company's lead, novel, oral Selective Inhibitor of Nuclear Export / SINE compound, in 57 patients with previously treated, advanced unresectable dedifferentiated liposarcoma. For the SEAL studys primary endpoint of progression-free survival (PFS), oral selinexor showed superiority over placebo, achieving a hazard ratio (HR) of 0.60, representing a 40% reduction in the risk of progression or death. PFS was assessed by Independent Central Radiological Review (ICRR) based on RECIST v1.1.

Bed Bath & Beyond (NASDAQ: BBBY) 12.6% LOWER; reported Q2 EPS of $0.67, $0.28 worse than the analyst estimate of $0.95. Revenue for the quarter came in at $2.94 billion versus the consensus estimate of $3.01 billion. Net Sales Decrease of Approximately 1.7%; Comparable Sales Decrease of Approximately 2.6%. Comparable sales from customer-facing digital channels continued to have strong growth in excess of 20% for the 13th consecutive quarter, while comparable sales from stores declined in the mid-single-digit percentage range during the fiscal 2017 second quarter.

Gemphire Therapeutics Inc. (NASDAQ: GEMP) 11.8% HIGHER; announced plans to advance its product candidate gemcabene into Phase 3 development in 2018. Gemcabene successfully achieved the primary endpoint in two recently completed Phase 2b studies, COBALT-1 and ROYAL-1, and the Company is now preparing for end of Phase 2 meetings with both the US Food and Drug Administration (FDA) and European Medicines Agency (EMA), anticipated to take place in early 2018. The primary focus of these meetings is to reach agreement on the design of the Phase 3 development programs for its hypercholesterolemia indications. Twenty clinical studies have shown gemcabene to be safe and effective as monotherapy or in combination with all current treatments for hypercholesterolemia, including the highest intensity statins, PCSK9 inhibitors and ezetimibe, and thus appears to be beneficial for high-risk patients that have not achieved lipid goals.

Ionis Pharma (NASDAQ: IONS) 8.6% LOWER; lower on ALNY data

Helios and Matheson Analytics (NASDAQ: HMNY) 7.7% LOWER; Amendment and Exchange Agreement

General Mills (NYSE: GIS) 6.6% LOWER; reported Q1 EPS of $0.71, $0.06 worse than the analyst estimate of $0.77. Revenue for the quarter came in at $3.77 billion versus the consensus estimate of $3.79 billion.

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) 5.3% LOWER; announced that it intends to offer and sell $50 million of its common stock, subject to market and other conditions, in an underwritten public offering

Arbutus Biopharma (NASDAQ: ABUS) 5% HIGHER; gains on ALNY news

Nabriva Therapeutics plc (NASDAQ: NBRV) 5% LOWER; announced the pricing of its underwritten public offering of 9,411,765 ordinary shares at a public offering price of $8.50 per share. In addition, Nabriva Therapeutics has granted the underwriters an option for a period of 30 days to purchase up to an additional 1,411,764 ordinary shares at the public offering price, less the underwriting discounts and commissions. All of the ordinary shares in the offering are to be sold by Nabriva Therapeutics.

Western Digital (NYSE: WDC) 4.4% LOWER; Toshiba to Sell Chip Unit to Bain Group for 2T Yen

Adobe Systems (NASDAQ: ADBE) 3% LOWER; reported Q3 EPS of $1.10, 9 cents better than the analyst estimate of $1.01. Revenue for the quarter came in at $1.84 billion versus the consensus estimate of $1.82 billion.

CymaBay Therapeutic (NASDAQ: CBAY) 3% HIGHER; Cantor Fitzgerald initiates coverage with an Overweight rating and a price target of $16.00.

Analogic (NASDAQ: ALOG) 2% LOWER; reported Q4 EPS of $0.00, $0.50 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $111.6 million versus the consensus estimate of $115.8 million.

FedEx (NYSE: FDX) 1.5% LOWER; reported Q1 EPS of $2.51, $0.58 worse than the analyst estimate of $3.09. Revenue for the quarter came in at $15.3 billion versus the consensus estimate of $15.35 billion.

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