Today's Pre-Open Stock Movers

Intercept Pharmaceuticals, Inc. (Nasdaq: ICPT) 38.4% LOWER; announced that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding the New Drug Application (NDA) for obeticholic acid (OCA) for the treatment of fibrosis due to nonalcoholic steatohepatitis (NASH).

Heron Therapeutics, Inc. (Nasdaq: HRTX) 34.5% LOWER; announced that it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) on June 26, 2020 regarding its New Drug Application (NDA) for HTX-011 for the management of postoperative pain.

Kiniksa Pharmaceuticals, Ltd. (Nasdaq: KNSA) 25.9% HIGHER; reported positive data from RHAPSODY, a pivotal Phase 3 trial of rilonacept, a weekly, subcutaneously-injected, recombinant fusion protein that blocks interleukin-1 alpha (IL-1) and interleukin-1 beta (IL-1) signaling, in recurrent pericarditis. RHAPSODY met its prespecified primary and all major secondary efficacy endpoints, showing that rilonacept improved clinically meaningful outcomes associated with the unmet medical need in recurrent pericarditis, a painful and debilitating autoinflammatory disease. The U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy designation to rilonacept for the treatment of recurrent pericarditis in 2019, and Kiniksa expects to submit a Supplemental Biologics License Application (sBLA) later this year.

Workhorse Group Inc. (Nasdaq: WKHS) 25.5% HIGHER; was added to the broad-market Russell 3000® Index at the conclusion of the annual reconstitution of the Russell indexes, effective after the U.S. market opens today, June 29, according to the FTSE Russell website.

Tortoise Acquisition Corp. (NYSE: SHLL) 23% HIGHER; The spac that is buying an EV company sees continued momentum after gaining 41% on Friday.

iBio, Inc. (NYSE: IBIO) 20% HIGHER; adds to gains on Russell additions.

Coty Inc. (NYSE: COTY) 14.6% HIGHER; Coty and Kim Kardashian West announced today that they have entered into a strategic transaction to further develop Kardashian Wests business globally. Together, Coty and Kardashian West will focus on entering new beauty categories and global expansion beyond her existing product lines. Kardashian West and her team will lead all creative efforts in terms of product and communications initiatives, building on her remarkable global reach capabilities through social media.

Altimmune, Inc. (Nasdaq: ALT) 13.3% HIGHER; announced it was awarded $4.7 million from the U.S. Army Medical Research & Development Command (USAMRDC) to fund its Phase 1/2 clinical trial of T-COVID, an investigational intranasal immune modulator for the treatment of outpatients with early COVID-19. The competitive award was granted by USAMRDC in collaboration with the Medical Technology Enterprise Consortium (MTEC), a 501(c)(3) biomedical technology consortium working in partnership with the Department of Defense (DoD). The award is expected to provide Altimmune sufficient funding to cover the entire cost of conducting this clinical trial.

Nikola (NASDAQ: NKLA) 7.1% HIGHER; the company will be opening reservations for its Badger pick-up truck today at 11 AM ET. Reservations will cost $5,000.

Boeing (NYSE: BA) 6.5% HIGHER; pilots and test crew members from the U.S. Federal Aviation Administration and the company are slated to begin a three-day certification test campaign for the 737 MAX today.

Beyond Meat Inc. (NASDAQ: BYND) 6.1% LOWER; Barclays downgraded to Underweight with a price target of $115.00 (from $100.00).

AMC Entertainment (NYSE: AMC) 4.9% LOWER; Credit Suisse downgraded from Neutral to Underperform with a price target of $2.00 (from $4.00).

Facebook (NASDAQ: FB) 3.1% LOWER; more major brands said they are pulling back on ads on social media platforms, including Starbucks and Pepsi. Shares fell 8.3% on Friday.

Southwest (NYSE: LUV) 2.5% HIGHER; Goldman Sachs upgraded from Sell to Buy with a price target of $47.00 (from $35.00).