Pre-Open Stock Movers 07/27: (TCRR) (SOGO) (OCGN) Higher; (BHTG) (LMND) (HAS) Lower (more...)

July 27, 2020 9:30 AM EDT

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Today's Pre-Open Movers

TCR2 Therapeutics Inc. (Nasdaq: TCRR) 47% HIGHER; announced positive interim data from the first five patients treated in the Phase 1 portion of the TC-210 Phase 1/2 clinical trial for mesothelin-expressing solid tumors. All five patients showed tumor regression including two RECIST unconfirmed partial responses (one of which remains subject to independent central review) and two patients with stable disease through six months. Translational data further demonstrated TRuC-T cell expansion and activation. A manageable toxicity profile was observed with only one patient exhibiting TC-210-related non-hematologic grade >2 toxicity and no evidence of neurotoxicity or on-target, off-tumor toxicity.

Sogou Inc. (NYSE: SOGO) 43.7% HIGHER; received a letter containing a preliminary non-binding proposal from Tencent Holdings Limited for Tencent to acquire all of the outstanding ordinary shares, including ordinary shares represented American depositary shares ("ADSs"), of Sogou that are not already owned by Tencent or its affiliates for US$9.00 in cash per ordinary share or ADS (the "Proposed Transaction"). The Proposed Transaction, if completed, would result in Sogou becoming a privately-held, indirect wholly-owned subsidiary of Tencent, and Sogou's ADSs would be delisted from the New York Stock Exchange. A copy of the Proposal Letter is attached hereto as Exhibit A.

Ocugen, Inc. (NASDAQ: OCGN) 17.8% HIGHER; announced the U.S. Food and Drug Administration (FDA) granted the third Orphan Drug Designation (ODD) for OCU400 in the treatment of RHO mutation-associated retinal degeneration. The RHO mutation is part of the Retinitis Pigmentosa (RP) group of rare, genetic disorders that involve a breakdown and loss of cells in the retina and can lead to visual impairment and blindness. This is one of the larger mutations within the RP class, representing about 12% of RP patients in the US.

MediciNova, Inc.(NASDAQ: MNOV) 13.5% HIGHER; announced an agreement with BioComo (President: Masayuki Fukumura, Mie prefecture, Japan; and Mie University (Mie prefecture, Japan) for joint development of a SARS-CoV-2 vaccine using BC-PIV, a human parainfluenza virus type 2 vector developed by BioComo and Tetsuya Nosaka, M.D., Ph.D., professor of the Department of Microbiology and Molecular Genetics, Mie University Graduate School of Medicine. MediciNova has been granted exclusive worldwide development rights to use BC-PIV for SARS-CoV-2 vaccine development from BioComo and Mie University.

BioHiTech Global, Inc., (Nasdaq: BHTG) 10.2% LOWER; announced the pricing of its underwritten public offering of 4,550,000 shares of its common stock at a public offering price of $1.81 per share. The gross proceeds from the public offering will be approximately $8.2 million, before deducting underwriting discounts and commissions and estimated offering expenses.

Moderna, Inc., (NASDAQ: MRNA) 8.5% HIGHER; announced that the Phase 3 study of its mRNA vaccine candidate (mRNA-1273) against COVID-19 has begun dosing participants. The Phase 3 study, called the COVE (Coronavirus Efficacy) study, is being conducted in collaboration with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services.

Lemonade Inc. (NYSE: LMND) 4.8% LOWER; Goldman Sachs initiates coverage on with a Sell rating and a price target of $44.00.

Hasbro (NASDAQ: HAS) 4.2% LOWER; reported Q2 EPS of $0.02, $0.23 worse than the analyst estimate of $0.25. Revenue for the quarter came in at $860.3 million versus the consensus estimate of $1.01 billion.

Amyris, Inc. (Nasdaq: AMRS) 3.3% HIGHER; announced the signing of a binding term sheet for a planned COVID-19 RNA (ribonucleic acid) vaccine technology program. The program combines IDRI's expertise in combating infectious diseases with Amyris' fermentation platform technology, with the goal to create semi-synthetic squalene-based adjuvants at scale. IDRI's RNA vaccine platform is expected to offer significant differentiated advantages over other RNA vaccines currently in development and will be further enhanced by a scalable Amyris adjuvant.

Biogen (NASDAQ: BIIB) 2.8% HIGHER; Morgan Stanley upgraded from Underweight to Overweight with a price target of $357.00 (from $263.00).

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