Pre-Open Stock Movers 10/05: (MYOK) (KOS) (EIDX) Higher; (BBIO) (AMC) (DKNG) Lower (more...)

October 5, 2020 9:30 AM EDT
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Price: $224.91 --0%

Overall Analyst Rating:
    NEUTRAL (= Flat)

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Today's Pre-Open Stock Movers

MyoKardia, Inc. (Nasdaq: MYOK) 58% HIGHER; Bristol Myers Squibb (NYSE: BMY) and MyoKardia, Inc. (Nasdaq: MYOK) today announced a definitive merger agreement under which Bristol Myers Squibb will acquire MyoKardia for $13.1 billion, or $225.00 per share in cash. The transaction was unanimously approved by both the Bristol Myers Squibb and MyoKardia Boards of Directors and is anticipated to close during the fourth quarter of 2020.

Kosmos Energy (NYSE: KOS) 38.8% HIGHER; announced today that it has closed a Gulf of Mexico facility with Beal Bank USA and Trafigura Trading LLC.

Eidos Therapeutics, Inc. (Nasdaq: EIDX) 32% HIGHER; BridgeBio Pharma, Inc. (Nasdaq: BBIO), a company focused on genetic diseases, and Eidos Therapeutics, Inc. (Nasdaq: EIDX), a company focused on transthyretin (TTR) amyloidosis (ATTR), today announced they have entered into a definitive agreement under which BridgeBio has agreed to acquire all of the outstanding common stock of Eidos it does not already own, representing approximately 36.3% of Eidos’ outstanding shares. Eidos stockholders will have the right to receive in the transaction, at their election, either 1.85 shares of BridgeBio common stock or $73.26 in cash per Eidos share in the transaction, up to an aggregate maximum of $175 million of cash. The agreement was unanimously approved by BridgeBio’s Board of Directors and was approved by Eidos’ Board of Directors based upon the unanimous recommendation of a special committee of independent directors of Eidos.

ImmunoGen, Inc., (Nasdaq: IMGN) 12.7% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Therapy designation for IMGN632 for the treatment of patients with relapsed or refractory blastic plasmacytoid dendritic cell neoplasm (BPDCN).

Amarin Corporation (NASDAQ: AMRN) 9.6% HIGHER; Citi analyst Joel Beatty reiterated a Buy rating and $12.00 price target on Amarin Corporation (NASDAQ: AMRN), saying Friday's GSK versus Teva 'skinny label' appeals court decision appears to have a "meaningfully favorable readthrough" for Amarin.

BridgeBio Pharma, Inc. (Nasdaq: BBIO) 6.5% LOWER; BridgeBio Pharma and Eidos Therapeutics, Inc. (Nasdaq: EIDX), a company focused on transthyretin (TTR) amyloidosis (ATTR), today announced they have entered into a definitive agreement under which BridgeBio has agreed to acquire all of the outstanding common stock of Eidos it does not already own, representing approximately 36.3% of Eidos’ outstanding shares. Eidos stockholders will have the right to receive in the transaction, at their election, either 1.85 shares of BridgeBio common stock or $73.26 in cash per Eidos share in the transaction, up to an aggregate maximum of $175 million of cash. The agreement was unanimously approved by BridgeBio’s Board of Directors and was approved by Eidos’ Board of Directors based upon the unanimous recommendation of a special committee of independent directors of Eidos.

AMC Entertainment (NYSE: AMC) 6% LOWER; rival Cineworld announced it would temporarily suspend operations at all its American and British movie theaters due to pandemic-related film delays.

Regeneron (NASDAQ: REGN) 5.4% HIGHER; confirmed it provided a single 8 gram dose of REGNCOV2, a cocktail of two monoclonal antibodies, for use by President Trump to treat COVID.

Cinemark Holdings (NYSE: CNK) 4.6% LOWER; announced it would temporarily suspend operations at all its American and British movie theaters due to pandemic-related film delays.

DraftKings Inc. (Nasdaq: DKNG) 4.4% LOWER; announced today that it has commenced an underwritten public offering of 32 million shares of its Class A common stock, consisting of 16 million shares being offered by DraftKings and 16 million shares being offered by certain selling stockholders of DraftKings.

Quidel Corporation (NASDAQ: QDEL) 4% HIGHER; announced that it has received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) to market its Sofia® 2 Flu + SARS Antigen FIA, a rapid point-of-care test to be used with the Sofia® 2 Fluorescent Immunoassay Analyzer for the rapid, simultaneous qualitative detection and differentiation of the nucleocapsid protein antigens from SARS-CoV-2, influenza A and influenza B in direct nasopharyngeal (NP) and nasal (NS) swab specimens from individuals suspected of respiratory viral infection consistent with COVID-19 by their healthcare provider within the first five days of the onset of symptoms.



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