Pre-Open Movers: Karuna Surges on Study Data, Bed Bath & Beyond Climbs

August 8, 2022 8:52 AM EDT

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Magic Empire Global Limited (NASDAQ: MEGL) +100%; recent IPO extends gain aftering surging in debut.

Karuna Therapeutics Inc. (NASDAQ: KRTX) +53%; today announced positive topline results from its Phase 3 EMERGENT-2 trial evaluating the efficacy, safety, and tolerability of its lead investigational therapy, KarXT (xanomeline-trospium), in adults with schizophrenia. The trial met its primary endpoint, with KarXT demonstrating a statistically significant and clinically meaningful 9.6-point reduction in the Positive and Negative Syndrome Scale (PANSS) total score compared to placebo (-21.2 KarXT vs. -11.6 placebo, p<0.0001) at Week 5 (Cohen’s d effect size of 0.61). KarXT also demonstrated an early and sustained statistically significant reduction of symptoms, as assessed by PANSS total score, starting at Week 2 and maintained such reduction through all timepoints in the trial.

Bed Bath & Beyond (NASDAQ: BBBY) +40% on continued momentum in meme stocks,

  • AMC Entertainment (NYSE: AMC) also higher, +7%.

Cyberoptics Corp (NASDAQ: CYBE) +30%; Nordson Corporation (Nasdaq: NDSN) has signed a definitive agreement for the acquisition of CyberOptics Corporation (Nasdaq: CYBE), a leading global developer and manufacturer of high-precision 3D optical sensing technology solutions.The all-cash transaction is valued at $54.00 a share, or approximately $380 million net of cash acquired, reflecting a valuation of 18.5 times CyberOptics trailing twelve months EBITDA, and 14.5 times net of cost synergies.

Kodiak Sciences Inc. (NASDAQ: KOD) +30%; today announced that its BEACON Phase 3 study of tarcocimab tedromer (KSI-301; tarcocimab), its novel antibody biopolymer conjugate, met the primary endpoint of non-inferior change from baseline in visual acuity at week 24 compared to aflibercept in patients with macular edema due to retinal vein occlusion. Tarcocimab also demonstrated robust anatomic responses and a favorable safety profile. After two initial monthly loading doses, tarcocimab was dosed every two months compared to consistent monthly dosing for aflibercept.

Signify Health, Inc. (NYSE: SGFY) +20%; CVS is planning to bid for Signify Health (NASDAQ: SGFY), according to a report in the Dow Jones.

Coinbase (NASDAQ: COIN) +9%; related names climb as Bitcoin tops $24,000.

  • Microstrategy, Inc. (NASDAQ: MSTR) +6.5%
  • Riot Blockchain (NASDAQ: RIOT) +7%
  • Marathon Digital Holdings (NASDAQ: MARA) +8%

First Solar (NASDAQ: FSLR) +6%, Upgraded at JPMorgan and Guggenheim.

Palantir (NYSE: PLTR) -15%; Guidance misses consensus.

Roku (NASDAQ: ROKU) -2%; cut to sell at Pivotal Research.

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