Pre-Open Movers 09/08: (ALBO) (NKLA) (SPRO) Higher; (CRBP) (ACMR) (TSLA) Lower (more...)

September 8, 2020 9:26 AM EDT

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Pre-Open Stock Movers:

Albireo Pharma Inc. (NASDAQ: ALBO) 79% HIGHER; announced positive topline results from PEDFIC 1, a global Phase 3 clinical trial evaluating the efficacy and safety of odevixibat and the largest study ever conducted in PFIC1 and PFIC2. PEDFIC 1 met its two primary endpoints, demonstrating that odevixibat reduced serum bile acid responses (sBAs) (p=0.003) and improved pruritus assessments (p=0.004) with a single digit diarrhea rate. Odevixibat is a highly potent, non-systemic ileal bile acid transport inhibitor (IBATi), for the treatment of progressive familial intrahepatic cholestasis (PFIC) patients.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) 75% LOWER; announced topline results from the 52-week Phase 3 RESOLVE-1 study of lenabasum in patients with diffuse cutaneous systemic sclerosis (SSc). SSc is a rare and life-threatening multi-system autoimmune disease for which there are currently no U.S. Food and Drug Administration (FDA)-approved treatments for overall disease. Topline data showed no significant differences in the primary and secondary endpoints when comparing lenabasum to placebo, both added to background drug therapy.

Nikola Corporation (NASDAQ: NKLA) 29% HIGHER; Nikola and General Motors Co. (NYSE: GM) today announced a strategic partnership that begins with the Nikola Badger and carries cost reductions through Nikola's programs, including: Nikola Badger, Nikola Tre, Nikola One, Nikola Two and NZT. As part of the agreement, Nikola will utilize General Motors' Ultium battery system and Hydrotec fuel cell technology, representing a key commercialization milestone for General Motors.

ACM Research, Inc. (Nasdaq: ACMR) 15.7% LOWER; Needham & Company Downgrades to Hold on Potetntial SMIC Blacklist

Spero Therapeutics, Inc. (Nasdaq: SPRO) 14.8% HIGHER; announced positive topline results from ADAPT-PO, the pivotal Phase 3 clinical trial evaluating Speros oral antibiotic candidate, tebipenem HBr, for the treatment of adults with complicated urinary tract infection (cUTI) and acute pyelonephritis (AP). Topline data from the trial demonstrate that oral tebipenem HBr was statistically non-inferior to intravenous (IV) ertapenem in the treatment of patients with cUTI and patients with AP.

Tesla (NASDAQ: TSLA) 14.6% LOWER; shares fall as it fails to make it into S&P 500 index

Moderna (NASDAQ: MRNA) 8.2% LOWER; SVB Leerink downgraded from Market Perform to Underperform with a price target of $41.00 (from $58.00).

Co-Diagnostics, Inc. (Nasdaq: CODX) 7.8% HIGHER; PolarityTE, Inc. (Nasdaq: PTE) announced that its subsidiary, Arches Research, Inc., has entered into a strategic partnership with Co-Diagnostics, Inc. (Nasdaq: CODX) to expand COVID-19 testing operations.

Nokia (NYSE: NOK) 6.3% LOWER; Raymond James downgraded from Strong Buy to Market Perform.

Boeing (NYSE: BA) 2.5% LOWER; Morgan Stanley initiates coverage on with an Underweight rating and a price target of $181.00.

Camping World Holdings (NYSE: CWH) 2% HIGHER; JPMorgan upgraded from Neutral to Overweight with a price target of $40.00 (from $30.00).

United Continental (NASDAQ: UAL) 1.7% LOWER; Morgan Stanley initiates coverage on with an Underweight rating and a price target of $37.00.



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