Pre-Open Movers 06/18: (MGI) (PHAS) (BYND) Higher; (BHVN) (RMTI) (UBX) (more...)

June 18, 2019 9:19 AM EDT

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(Updated - June 18, 2019 9:33 AM EDT)

Pre-Open Stock

MoneyGram International, Inc. (NASDAQ: MGI) 134.5% HIGHER; entered into a strategic agreement with Ripple, a provider of leading enterprise blockchain solutions for global payments, that will enable MoneyGram to utilize Ripple's xRapid product, leveraging XRP in foreign exchange settlement as part of MoneyGram's cross-border payment process. The partnership supports the companies' shared goal of improving the settlement of cross-border payments by increasing efficiency and reducing cost through RippleNet.

Biohaven (NYSE: BHVN) 28% LOWER; announces $300 million equity raise.

Rockwell Medical, Inc. (NASDAQ: RMTI) 28% LOWER; announced the pricing of its previously announced underwritten public offering of 5,833,334 shares of its common stock at a public offering price of $3.00 per share

UNITY Biotechnology, Inc. (UNITY) (NASDAQ: UBX) 17.7% LOWER; announced promising results from its first-in-human Phase 1 study of UBX0101 in patients with moderate to severe osteoarthritis (OA) of the knee. The study demonstrated that UBX0101 was safe and well-tolerated. Improvement in several clinical measures, including pain, function, as well as modulation of certain senescence-associated secretory phenotype (SASP) factors and disease-related biomarkers was observed after a single dose of UBX0101.

PhaseBio Pharmaceuticals, Inc. (Nasdaq: PHAS) 14.1% HIGHER; announced preliminary data from its Phase 2a clinical trial of PB2452, which is the first trial of PB2452 to include older (ages 50-64) and elderly (ages 65-80) subjects on dual antiplatelet therapy of ticagrelor and low-dose aspirin.

Beyond Meat, Inc. (NASDAQ: BYND) 13.6% HIGHER; sees continued momentum

Eiger BioPharmaceuticals, Inc. (Nasdaq: EIGR) 9.6% HIGHER; announced that the Food and Drug Administration (FDA) has granted Breakthrough Therapy Designation for avexitide for the treatment of post-bariatric hypoglycemia (PBH). FDA Breakthrough Therapy Designation involves a fast track development and FDA review process with guidance designed to expedite the development and review of medicines intended to treat serious or life-threatening diseases. PBH is a chronic condition occurring in post-bariatric surgical patients leading to dangerously low, postprandial blood glucose levels. Severe PBH episodes can result in altered mental status, loss of consciousness, seizures, and coma. Due to increasing morbid obesity, the number of bariatric surgeries are increasing, leading to an increased number of patients suffering from PBH. Avexitide is a targeted, first-in-class, GLP-1 antagonist in development for the treatment of PBH, a chronic, debilitating disorder for which there is no approved treatment.

SunPower (NASDAQ: SPWR) 7.1% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $11.00 (from $6.00).

Calithera Biosciences, Inc. (NASDAQ: CALA) 6.9% LOWER; intends to offer and sell 10,000,000 shares of its common stock in an underwritten public offering.

ArQule, Inc. (NASDAQ: ARQL) 6% HIGHER; adds to 16% intra-day gain after the company announced preliminary results from the companys phase 1/2 study of its pan-AKT inhibitor, miransertib (ARQ 092), in patients with PIK3CA-related Overgrowth Spectrum (PROS) and Proteus syndrome (PS) in an oral presentation at the European Society of Human Genetics Conference in Gothenburg, Sweden.

Sunrun (NASDAQ: RUN) 5.6% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $20.00.

Snap Inc (NYSE: SNAP) 4% HIGHER; BTIG raised the price target onto a 'Street High' $20.00 (from $15.00) while maintaining a Buy rating.

Facebook (NASDAQ: FB) 2.5% HIGHER; revealed plans to launch a cryptocurrency called Libra.

Twilio (NYSE: TWLO) 2.3% HIGHER; Needham & Company initiates coverage on with a Buy rating and a price target of $165.00.

Tesla (NASDAQ: TSLA) 2.1% HIGHER; is revamping its organization in Asia to put more focus on China as it prepares to start manufacturing in the country, according to Bloomberg, citing people familiar with the matter.

Verastem, Inc. (NASDAQ: VSTM) 1.9% LOWER; announced that two posters highlighting clinical data for COPIKTRA (duvelisib) in patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) were presented at the European Hematology Association (EHA) 2019 Annual Meeting which took place June 13-16, 2019, in Amsterdam. One poster describes results from a post-hoc analysis evaluating the effect of COPIKTRA on lymphocytosis in patients with relapsed or refractory CLL/SLL from the Phase 3 DUO study, including patients with high-risk factors. The other poster describes dose modification data from patients with relapsed or refractory CLL/SLL in the DUO study.

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