Pre-Open Stock Movers 08/19: (BIOC) (INOV) (M) (CHRS) Higher, (PMCB) (ILMN) (HOOD) Lower (more...)
Biocept (NASDAQ: BIOC) +22%; today announced that new data show the company’s cerebrospinal fluid assay, CNSide™, detected tumor cells and identified actionable mutations in lung cancer patients with leptomeningeal carcinomatosis, allowing for targeted treatment decisions that may improve outcomes and extend life expectancy. The study will be presented as a poster at the Third Annual Conference on Brain Metastases hosted by the Society for Neuro-Oncology (SNO), being held virtually Aug. 19-20, 2021.
Inovalon (NASDAQ: INOV) 8.3%; has entered into a definitive agreement to be acquired by an equity consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon founder and Chief Executive Officer Keith Dunleavy, M.D. and certain Class B stockholders of Inovalon in an all-cash transaction with an enterprise value of approximately $7.3 billion.
Macy's (NYSE: M) +7.4%; reported Q2 EPS of $1.29, $1.16 better than the analyst estimate of $0.13. Revenue for the quarter came in at $5.65 billion versus the consensus estimate of $4.96 billion. Comparable sales up 61.2% on an owned basis and up 62.2% on an owned-plus-licensed basis versus 2020; up 5.8% and up 5.9%, respectively, versus 2019
Coherus BioSciences (NASDAQ: CHRS) +4.7%; Junshi Biosciences Co., Ltd. (“Junshi Biosciences”, HKEX: 1877; SSE: 688180) and Coherus BioSciences, Inc. (“Coherus”, Nasdaq: CHRS), today announced positive interim results from the pivotal study “CHOICE-01” (NCT03856411), a randomized, double-blind, placebo-controlled Phase 3 clinical trial evaluating toripalimab plus chemotherapy as first-line treatment of advanced squamous or non-squamous non-small cell lung cancer (NSCLC). The interim analysis met the primary endpoint, demonstrating a statistically significant and clinically meaningful improvement in progression free survival (PFS) per RECIST v1.1 compared to chemotherapy alone.
Kohl's (NYSE: KSS) +4%; reported Q2 earnings that came ahead of the market’s expectations. EPS came in at $2.48, which is $1.37 better than the analyst estimate of $1.11. Revenue for the quarter came in at $4.22 billion versus the consensus estimate of $3.99 billion.
PharmaCyte Biotech, Inc (NASDAQ: PMCB) -58%; today announced that it has entered into definitive agreements with institutional investors for the purchase and sale, in a registered direct offering priced at-the-marked under Nasdaq rules, of 14,000,000 shares of the Company’s common stock (or common stock equivalents) at an effective purchase price of $5.00 per share for gross proceeds of $70 million. PharmaCyte has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate 7,000,000 shares of common stock.
Robinhood (NASDAQ: HOOD) -8%; warns of lower trading revenue in third quarter.
Victoria's Secret & Co. (NYSE: VSCO) -8%; reported Q2 EPS of $1.71, versus ($2.26) reported last year. Revenue for the quarter came in at $1.61 billion, versus $1.07 billion reported last year.The Company is forecasting third quarter 2021 sales to increase in the mid- to high-single digits versus last year’s third quarter sales of $1.35 billion and earnings per share to be in the range of $0.60 to $0.70.
Illumina (NASDAQ: ILMN) -4.6%; announced today that it has acquired GRAIL, a healthcare company focused on life-saving early detection of multiple cancers, but will hold GRAIL as a separate company during the European Commission's ongoing regulatory review.
