Pre-Open Stock Movers 08/24: (NNBR) (XBIT) (TSLA) Higher; (ONTX) (MWK) Lower (more...)

August 24, 2020 9:31 AM EDT
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Price: $0.56 +7.69%

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Onconova Therapeutics, Inc. (NASDAQ: ONTX) 72.3% LOWER; announced that INSPIRE, the companys pivotal Phase 3 study assessing the efficacy and safety of IV rigosertib in higher-risk MDS (HR-MDS) patients, did not meet its primary endpoint of improved survival.

Liminal BioSciences (NASDAQ: LMNL) 60.4% HIGHER; FDA Issues Emergency Use Authorization for Convalescent Plasma as Potential Promising COVID-19 Treatment

Sonnet BioTherapeutics (NASDAQ: SONN) 54.8% HIGHER; FDA Issues Emergency Use Authorization for Convalescent Plasma as Potential Promising COVID-19 Treatment

ADMA Biologics (NASDAQ: ADMA) 37.3% HIGHER; FDA Issues Emergency Use Authorization for Convalescent Plasma as Potential Promising COVID-19 Treatment

NN, Inc. (NASDAQ: NNBR) 25.8% HIGHER; announced a definitive agreement under which NN, Inc.'s Life Sciences division will be purchased by affiliates of American Securities LLC for the purpose of being combined with its portfolio company, MW Industries, a provider of highly engineered springs, specialty fasteners, bellows and other precision components.

ThermoGenesis Holdings, Inc. (NASDAQ: THMO) 20% HIGHER; FDA Issues Emergency Use Authorization for Convalescent Plasma as Potential Promising COVID-19 Treatment

Mohawk Group Holdings, Inc. (NASDAQ: MWK) 17.5% LOWER; announced the pricing of its public offering of 3,357,140 shares of its common stock at a price to the public of $7.00 per share. Gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $23.5 million. Mohawk currently intends to use the net proceeds from the offering to acquire, invest in or license complimentary products, technologies or businesses, including the acquisition of a consumer products business with which Mohawk has entered into a definitive purchase agreement. The completion of the acquisition is subject to obtaining certain required third party approvals and the satisfaction of customary closing conditions. If Mohawk does not complete the acquisition, Mohawk may use a portion of the net proceeds for general corporate purposes, including working capital, operating expenses and capital expenditures. In addition, Mohawk has granted the underwriter a 30-day option to purchase up to 503,571 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about August 26, 2020 subject to satisfaction of customary closing conditions.

iBio, Inc. (NYSE: IBIO) 16.6% HIGHER; FDA Issues Emergency Use Authorization for Convalescent Plasma as Potential Promising COVID-19 Treatment

XBiotech Inc. (NASDAQ: XBIT) 16% HIGHER; announced today that the U.S. Food and Drug Administration (FDA) issued an emergency use authorization (EUA) for COVID-19 Convalescent Plasma (CCP) as a COVID-19 treatment, opening the door for XBiotech’s antibody screening technology used to identify CCP. XBiotech collaborated with BioBridge Global to develop a test to accurately detect human antibodies present in patient blood that specifically attack the COVID-19 virus. BioBridge Global, which provides blood products to hospitals through its subsidiary, the South Texas Blood & Tissue Center, is using XBiotech’s test to identify human bloods from patients that have recovered from COVID-19—so called convalescent plasma. BioBridge utilizes the convalescent plasma to produce naturally immune blood products as treatment for patients hospitalized with the virus.

Cerus (NASDAQ: CERS) 15.3% HIGHER; FDA Issues Emergency Use Authorization for Convalescent Plasma as Potential Promising COVID-19 Treatment

Rocket Companies, Inc. (NYSE: RKT) 11.6% HIGHER; sees continued momentum

Fastly Inc. (NYSE: FSLY) 6% HIGHER; Raymond James upgraded from Market Perform to Outperform with a price target of $100.00.

Tesla, Inc. (NASDAQ: TSLA) 3.6% HIGHER; Wedbush raised his "bull case" price target on Tesla from $2,500 to $3,500 on the back of the strong growth in China

Apple (NASDAQ: AAPL) 3% HIGHER; Morgan Stanley raised the price target on to a 'Street High' $520.00 (from $431.00) while maintaining an Overweight rating.

Facebook, Inc. (NASDAQ: FB) 1.6% HIGHER; price target raised at Citi and Jefferies



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