Pre-Open Stock Movers 2/10: (VTVT) (EPC) (TSLA) Higher (ABUS) (BHVN) (LLY) Lower (more...)

February 10, 2020 9:21 AM EST
Get Alerts VTVT Hot Sheet
Price: $2.45 +2.94%

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Today's Pre-Open Stock Movers

vTv Therapeutics Inc. (Nasdaq: VTVT) 79.5% HIGHER; announced positive results from Part 2 of the Phase 2 Simplici-T1 trial assessing TTP399 as an oral adjunctive therapy to insulin in adults with type 1 diabetes (T1D). TTP399 is a novel, liver-selective glucokinase activator taken once a day. The 12-week trial investigated the efficacy and safety of 800 mg of TTP399 compared with placebo in 85 people with type 1 diabetes on optimized insulin therapy. The study was conducted with support from JDRF International (JDRF), the leading provider of T1D research funding globally.

Edgewell Personal Care Company (NYSE: EPC) 20% HIGHER; announced that following the U.S. Federal Trade Commission's ("FTC") filing of a lawsuit seeking to block the proposed transaction, Edgewell terminated its merger agreement with Harry's, Inc. Harry's has informed the Company that it intends to pursue litigation. The Company believes that such litigation has no merit. Edgewell is now moving forward as a standalone company and is pursuing its strategy to create value for shareholders.

Adverum Biotechnologies, Inc. (NASDAQ: ADVM) 19% HIGHER; announced new interim clinical data from the OPTIC Phase 1 dose-ranging clinical trial of ADVM-022 intravitreal injection gene therapy. OPTIC includes treatment-experienced patients with wet age-related macular degeneration (AMD). The data are being presented today by David S. Boyer, M.D., senior partner, Retina-Vitreous Associates Medical Group and adjunct clinical professor of ophthalmology with the University of Southern California/Keck School of Medicine in Los Angeles, at the Angiogenesis, Exudation, and Degeneration 2020 Annual Meeting in Miami. Cantor Fitzgerald upgraded Adverum Biotechnologies (NASDAQ: ADVM) to Overweight with a price target of $21 (from $8).

HC2 Holdings, Inc. (NYSE: HCHC) 7.1% HIGHER; provided an update on its strategic initiatives to monetize assets and further reduce debt by focusing such efforts on its highest growth businesses. The Company, following the announced sale of its Global Marine-related assets on January 30, is also in advanced discussions for the potential divestiture of its 100%-owned indirect subsidiaries, Continental Insurance Group Ltd. and Continental General Insurance Company (collectively, Continental Insurance). The Company has also retained Jefferies & Co. to explore strategic options for DBM Global Inc. (DBM Global), including a potential sale. Net proceeds from any such divestitures will be used to reduce debt at the holding company level.

Arbutus Biopharma Corporation (NASDAQ: ABUS) 15.4% LOWER; announced today its decision to discontinue AB-452, its first generation orally available hepatitis B (HBV) specific RNA-destabilizer, and to continue research and development of a next generation oral HBV RNA-destabilizer. In October 2018, Arbutus announced its decision to delay the initiation of a planned 28-day Phase 1a/1b clinical trial for AB-452 in order to further evaluate the safety of the compound. This decision was based on findings in 90-day preclinical safety studies in two species. Since that time Arbutus has extensively reviewed and further characterized these preclinical findings, including repeating the 90-day safety studies.

Biohaven Pharmaceutical Holding Company Ltd. (NYSE: BHVN) 13% LOWER; reported negative topline results from its Phase 3 clinical trial evaluating troriluzole compared to placebo for the treatment of patients with Generalized Anxiety Disorder (GAD). This eight-week trial randomized 402 adult patients equally at more than 45 centers in the United States. In this trial, troriluzole monotherapy at 100mg twice daily did not differentiate from placebo on the primary endpoint of the mean change from baseline on the Hamilton Anxiety Rating Scale (HAM-A) after eight weeks of treatment.

L Brands (NYSE: LB) 7.1% HIGHER; nearing a deal to sell its Victoria's Secret brand to private equity firm Sycamore, according to CNBC. A deal could be announced this week.

Tesla (NASDAQ: TSLA) 7% HIGHER; speculation following an article in Forbes that suggested the company may be a potential target for Google (NASDAQ: GOOGL). Separately, reports this weekend suggested the company will resume production at its factory in China on Feb. 10, and this could also be helping lift shares today.

Abeona Therapeutics (NASDAQ: ABEO) 6.8% HIGHER; SVB Leerink initiates coverage on with a Outperform rating and a price target of $6.00.

Avaya Holdings (NYSE: AVYA) 6.3% HIGHER; reported Q1 EPS of ($0.54), $1.28 worse than the analyst estimate of $0.74. Revenue for the quarter came in at $715 million versus the consensus estimate of $710.75 million.

Xerox Holdings Corporation (NYSE: XRX) 4.6% LOWER; announced its intention to launch a tender offer on or around March 2, 2020 for all of the outstanding shares of common stock of HP Inc. (NYSE: HPQ) (HP) at a price of $24.00 per share, which will be comprised of $18.40 in cash and 0.149 Xerox shares for each HP share.1 The tender offer will not be subject to any conditions related to financing or due diligence.

Casper Sleep Inc. (NYSE: CSPR) 4.5% LOWER; recent IPO slips lower

Inovio Pharmaceuticals, Inc. (NASDAQ: INO) 4.3% HIGHER; announced the U.S. Food and Drug Administration (FDA) has accepted its Investigational New Drug (IND) application to evaluate its DNA medicine INO-3107 in a Phase 1/2 trial for treatment of Recurrent Respiratory Papillomatosis or RRP. RRP is a rare disease caused by the human papillomavirus (HPV) types 6 and 11 infections, a condition that causes noncancerous tumor growths leading to life-threatening airway obstructions, and occasionally can progress to cancer. Currently, the disease is incurable and is mostly treated by surgery, which temporarily restores the airway. The tumor almost always recurs and the surgery must be repeated, often multiple times a year. RRP can severely impact the quality of life for those living with the disease.

Eli Lilly and Company (NYSE: LLY) 3.8% LOWER; announced that the analysis performed by Washington University School of Medicine in the Dominantly Inherited Alzheimer Network Trials Unit (DIAN-TU) Study showed that solanezumab did not meet the primary endpoint. Additional analyses of secondary endpoints and biomarkers are ongoing by Washington University and Lilly. Results will be presented at the Advances in Alzheimer's and Parkinson's Therapies (AAT-AD/PD) Focus Meeting in April of 2020. At this time, Lilly does not plan to pursue a submission for solanezumab in people with dominantly inherited Alzheimer's disease (DIAD), also known as autosomal dominant Alzheimer's disease, based on the result of the primary endpoint. This outcome does not impact the ongoing solanezumab Anti-Amyloid Treatment in Asymptomatic Alzheimer's (A4) Study.

World Wrestling Entertainment (NYSE: WWE) 2.7% LOWER; Wells Fargo downgraded from Overweight to Underweight with a price target of $36.00.

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