Pre-Open Movers 07/16: (LCI) (DELL) (AA) Higher; (TCDA) (NCLH) (GENE) Lower (more...)
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Pre-Open Stock Movers
Nabriva Therapeutics plc (NASDAQ: NBRV) 57.9% HIGHER; announced that it has entered into an exclusive agreement with subsidiaries of Merck & Co. Inc., Kenilworth, N.J., USA to market, sell and distribute SIVEXTRO® (tedizolid phosphate) in the United States and certain of its territories. SIVEXTRO is an oxazolidinone-class antibacterial indicated in adults and pediatric patients 12 years of age and older for the treatment of acute bacterial skin and skin structure infections (ABSSSI) caused by certain susceptible Gram-positive microorganisms.
AC Immune SA (NASDAQ: ACIU) 56.5% HIGHER; announced the initiation of the second highest dosing group in the Companys Phase 1b/2a clinical trial evaluating ACI-35.030 for the treatment of Alzheimers disease (AD). The decision to advance to the higher dosing group follows encouraging interim safety, tolerability and immunogenicity results from the initial dosing group.
Future FinTech Group Inc. (NASDAQ: FTFT) 34.7% HIGHER; announced today that, further to its March 26, 2020 press release, it has entered into a Share Exchange Agreement with Joy Rich Enterprises Limited to acquire 90% of the issued and outstanding shares of Nice Talent Asset Management Limited ("NTAM"), a Hong Kong-based asset management company, from Joy Rich. NTAM is licensed under the Securities and Futures Commission of Hong Kong ("SFC") to carry out regulated activities in 'Type 4Advising on Securities' and 'Type 9: Asset Management.' Its current business partners include major international banks and the management team of NTAM includes former senior executives of HSBC and certified public accountants of Hong Kong, with rich experience in asset management, investment advisory and extensive contacts in the industry in Hong Kong.
Tricida, Inc. (Nasdaq: TCDA) 35% LOWER; announced today that on July 14, 2020, the Company received a notification from the U.S. Food and Drug Administration (FDA) stating that, as part of its ongoing review of the Company’s New Drug Application (NDA), the FDA has identified deficiencies that preclude discussion of labeling and postmarketing requirements/commitments at this time. The FDA stated that the notification does not reflect a final decision on the information under review.
Lannett Company, Inc. (NYSE: LCI) 21% HIGHER; Lannett and Cediprof, Inc., a part of the Neolpharma Pharmaceutical Group family of companies, today said that the companies have entered into an interim exclusive supply and distribution agreement for Cediprof's FDA approved Levothyroxine Sodium Tablets USP. Lannett said it expects to commence distributing the product in the U.S. on August 3, 2020. The interim supply agreement terminates on July 31, 2022, when the previously announced 10-year exclusive supply and distribution agreement with Cediprof commences. Total U.S. sales of the product, according to IQVIA market, were approximately $2.3 billion for the 12 months ending May 2020, although actual generic market values are expected to be lower.
RTI Surgical Holdings, Inc. (Nasdaq: RTIX) 11.8% HIGHER; announced that following the Company's annual stockholder meeting, which included an annual meeting of the stockholders, the Company has received all of the necessary approvals for the sale of the OEM business. The Company expects the transaction to close on Monday, July 20, 2020.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) 10.6% LOWER; announced today that it has commenced an underwritten public offering of $250 million of ordinary shares of the Company. The Company intends to grant the underwriters an option to purchase up to $37.5 million of additional ordinary shares. The Company expects to use the net proceeds from the Offering for general corporate purposes.
Genetic Technologies Limited (NASDAQ: GENE) 8.3% LOWER; entered into definitive agreements with several institutional investors for the purchase and sale in a registered direct offering of 1,025,000 American Depositary Shares (“ADSs”), each representing six hundred (600) of the Company’s ordinary shares, at a purchase price of $5.00 per ADS. The closing of the offering is expected to occur on or about July 20, 2020, subject to the satisfaction of customary closing conditions.
Dell Technologies (NYSE: DELL) 6.4% HIGHER; is exploring a potential spin-off of its 81% equity ownership interest in VMware (NYSE: VMW). Although this exploration is in an early stage, Dell Technologies believes a spin-off could benefit both Dell Technologies and VMware shareholders, team members, customers and partners by simplifying capital structures and creating additional long-term enterprise value. Any potential spin-off would not occur prior to September 2021 and would be intended to qualify as tax-free for U.S. federal income tax purposes.
Alcoa (NYSE: AA) 6.3% HIGHER; reported Q2 EPS of ($0.02), $0.43 better than the analyst estimate of ($0.45). Revenue for the quarter came in at $2.15 billion versus the consensus estimate of $2.11 billion.
Cinedigm (NASDAQ: CIDM) 5.2% LOWER; announced it has entered into a definitive agreement with investors for the purchase and sale of 7,213,334 shares of its Class A common stock at a purchase price of $1.50 per share in a registered direct offering. The closing of the offering is expected to occur on or about July 20, 2020, subject to the satisfaction of customary closing conditions.
Cytokinetics, Incorporated (NASDAQ: CYTK) 5% LOWER; announced plans to offer, subject to market and other conditions, $150,000,000 of shares of its common stock in an underwritten public offering. There can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering. Cytokinetics expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of common stock sold in connection with the offering. All of the shares of common stock in the offering will be sold by Cytokinetics.
FireEye (NASDAQ: FEYE) 4.9% HIGHER; gains after major Twitter hack
Atreca, Inc. (Nasdaq: BCEL) 4.7% LOWER; announced that it intends to offer shares of its Class A Common Stock (the “Shares”) in an underwritten public offering. In connection with the offering, Atreca expects to grant the underwriters a 30-day option to purchase additional shares of its Class A Common Stock. All of the Shares will be offered by Atreca.
Virgin Galactic Holdings, Inc. (NYSE: SPCE) 4.6% HIGHER; announced the appointments of Michael Colglazier as Virgin Galactics new Chief Executive Officer and George Whitesides as Chief Space Officer, effective July 20, 2020.
NextCure Inc. (NASDAQ: NXTC) 4.3% HIGHER; Benchmark upgraded from Hold to Buy.
Twitter (NYSE: TWTR) 4.2% LOWER; a major hack of high profile accounts like Elon Musk, Joe Biden, Jeff Bezos, Bill Gates, Barack Obama.
QIAGEN N.V. (NYSE: QGEN) 3.2% HIGHER; QIAGEN announces that Thermo Fisher Scientific Inc. (NYSE: TMO) and QIAGEN have entered into an amendment to the Business Combination Agreement in connection with the ongoing public tender offer to all QIAGEN shareholders for the acquisition of all issued ordinary shares of the Company.
Sleep Number Corporation (NASDAQ: SNBR) 3% LOWER; reported Q2 EPS of ($0.45), $0.35 better than the analyst estimate of ($0.80). Revenue for the quarter came in at $285 million versus the consensus estimate of $216.36 million.
VMware, Inc. (NYSE: VMW) 2.3% HIGHER; Dell is exploring a potential spin-off of its 81% equity ownership interest in VMware (NYSE: VMW). Although this exploration is in an early stage, Dell Technologies believes a spin-off could benefit both Dell Technologies and VMware shareholders, team members, customers and partners by simplifying capital structures and creating additional long-term enterprise value. Any potential spin-off would not occur prior to September 2021 and would be intended to qualify as tax-free for U.S. federal income tax purposes.
DraftKings Inc. (Nasdaq: DKNG) 1.7% HIGHER; has launched its Casino product suite in association with Hollywood Casino at Charlestown Races in West Virginia. The launch includes the DraftKings Casino standalone mobile application, in addition to access to DraftKings Casino via the DraftKings Sportsbook mobile application, and features virtual, branded table games including popular slot machine games as well as Blackjack, Roulette, Three Card Poker and Keno.
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