Pre-Open Movers 03/26: (DRIO) (FINL) (USG) Higher; (PTGX) (BHVN) (NBEV) Lower (more...)
- Wall St ends higher as Fed signals bond-buying taper soon
- Fed maintains federal funds rate at 0 to 1/4; Fed maintains Treasury, MBS purchases but says moderation in pace may 'soon be warranted'
- Toast (TOST) IPO Opens Up 63%, Pushing Valuation to Nearly $33B
- Facebook (FB) Shares Hit After Warning on Impact of Apple's (AAPL) Privacy Changes
- Adobe (ADBE) Tops Q3 Estimates, After-Hours Move Lower in Shares Creates a Buying Opportunity Says Analyst
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Today's Pre-Open Stock Movers
Protagonist Therapeutics, Inc. (Nasdaq: PTGX) 60.4% LOWER; announced that the Company is discontinuing the Phase 2b PROPEL study of PTG-100, its investigational oral GI-restricted alpha-4-beta-7 integrin antagonist peptide, in patients with moderate to severe ulcerative colitis (UC). This decision followed a planned interim analysis by an independent Data Monitoring Committee (DMC) of unblinded efficacy and safety data from the first 65 patients from the ongoing 240 patient trial who had completed the 12 week treatment with PTG-100. Using pre-specified criteria, the DMC deemed the trial to be futile based on an analysis of the primary endpoint of clinical remission. No safety concerns were noted in the analysis.
DarioHealth Corp. (NASDAQ: DRIO) 31.2% HIGHER; announced today that the United States Food and Drug Administration (FDA) has granted Pre-market Notification (510(k)) clearance for the Company's Lightning®-enabled version of the acclaimed Dario Blood Glucose Monitoring System which enables the use of the Dario app on iPhone 7, 8 and X smart mobile devices (SMD). Consumers in the U.S. market will be able to receive the same quality user experience with DarioHealth on the latest Apple devices, including the iPhone X.
The Finish Line, Inc. (NASDAQ: FINL) 28.6% HIGHER; announced today that it has entered into a merger agreement providing for JD Sports Fashion Plc to acquire 100% of the issued and outstanding Finish Line shares at a price of $13.50 per share in cash representing an aggregate deal value of approximately $558 million. JD is the leading European retailer of sports, fashion and outdoor brands.
USG Corp. (NYSE: USG) 21.5% HIGHER; Berkshire Hathaway disclosed in an SEC filing that Gebr. Knauf expressed interest in USG Corp. (NYSE: USG) and submitted an indicative and non-binding proposal for the acquisition of 100% of the outstanding shares of Common Stock of USG at $42.00 per share.
Biohaven Pharmaceutical (NYSE: BHVN) 21% LOWER; announced positive top-line results from both of its two Phase 3 clinical trials (BHV3000-301 and BHV3000-302) of rimegepant (formerly known as BHV-3000), an oral CGRP receptor antagonist for the acute treatment of migraine. In each trial, rimegepant met the co-primary efficacy endpoints of superiority to placebo, at two hours post-dose, on pain freedom and freedom from the most bothersome symptom (MBS) (Figure 1, Table 1). Even without additional rimegepant dosing, or use of rescue medications, these studies showed an early separation from placebo and a profile of continued improvement over the dosing interval. Overall, efficacy and safety results were consistent across both Phase 3 trials.
New Age Beverages (NASDAQ: NBEV) 15% LOWER; filed after the close Friday to issue up to $20,000,000 of shares of our common stock from time to time through sales agent, B. Riley FBR, Inc.
Akers Biosciences, Inc. (NASDAQ: AKER) 13.6% HIGHER; entered into a three-year National Distribution Agreement (the Agreement) with Diagnostica Stago, Inc. (Stago) for the sale of the Companys flagship rapid test for Heparin-induced thrombocytopenia (HIT) across the US.
ImmunoGen, Inc. (NASDAQ: IMGN) 11.5% HIGHER; announced encouraging efficacy and favorable tolerability data from the FORWARD II cohort assessing mirvetuximab soravtansine in combination with Mercks anti-PD-1 therapy pembrolizumab in patients with platinum-resistant epithelial ovarian cancer (EOC). These data are being presented at the Society of Gynecologic Oncology (SGO) Annual Meeting, March 24-27, 2018 in New Orleans, LA.
Organovo Holdings, Inc. (NASDAQ: ONVO) 9% HIGHER; announced that its wholly-owned subsidiary, Samsara Sciences, Inc. (Samsara), a provider of highly specialized human liver cells, entered a non-exclusive global supply agreement with Lonza Bioscience Solutions (Lonza). Under the terms of the agreement, Lonza will market human cell products from Samsara for further distribution to its customers.
Palatin Technologies, Inc. (NYSE American: PTN) 7% HIGHER; announced today that its exclusive North American licensee for bremelanotide, AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG), has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for bremelanotide for the treatment of hypoactive sexual desire disorder (HSDD) in premenopausal women. If approved, bremelanotide would become the first and only as desired pharmacologic option in the U.S. indicated for the treatment of HSDD in premenopausal women.
Ferroglobe (NASDAQ: GSM) 6.5% HIGHER; JPMorgan upgraded from Neutral to Overweight with a price target of $13.50 (from $18.00).
Viking Therapeutic (NASDAQ: VKTX) 6.5% HIGHER; H.C. Wainwright assumes coverage with a Buy rating and a price target of $11.00.
Dropbox (NASDAQ: DBX) 5.1% HIGHER; adds to Friday's IPO gains.
Lowe's Cos. (NYSE: LOW) 5% HIGHER; announced that Robert A. Niblock plans to retire as chairman, president and CEO after a 25-year career with the company.
Microsoft (NASDAQ: MSFT) 3.5% HIGHER; Morgan Stanley raised its price target to a 'Street High' $130.00 (from $110.00) while maintaining an Overweight rating
Roku Inc. (NASDAQ: ROKU) 2.7% HIGHER; Needham & Company analyst Laura Marin said the company's next $1 billion asset is its app called the "Roku Channel," which will available on all Samsung TVs going forward.
Dollar Tree (NASDAQ: DLTR) 2.5% HIGHER; Piper Jaffray upgraded from Neutral to Overweight with a price target of $112.00 (from $102.00)
Tesla Motors (NASDAQ: TSLA) 2.1% HIGHER; Global Equities Research analyst Trip Chowdhry said between March 11 and March 25, the production of Model 3's has improved almost 3X to 4X. Baird also said buy the dip.
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Related EntitiesWarren Buffett, Piper Jaffray, JPMorgan, Morgan Stanley, Robert W Baird, Needham & Company, B. Riley, Tesla, Pre-Open Losers, Pre-Open Winners, Definitive Agreement, IPO, Trip Chowdhry, Pre Market Movers, H.C. Wainwright, Model 3, FDA
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