Scilex, Vera Therapeutics rise premarket; Strategy gains

Investing.com - U.S. stock index futures edged higher on Monday as investors returned from a long holiday weekend, with technology shares leading gains.

By 07:47 ET, the Dow futures contract was little changed, S&P 500 futures had risen by 32 points, or 0.3%, and Nasdaq 100 futures had climbed by 289 points, or 1.1%.

Healthcare, cryptocurrency and energy-related stocks were among the notable premarket movers as investors reacted to investment announcements, analyst actions and upcoming regulatory catalysts.

Here are some of the biggest premarket U.S. stock movers today:

Scilex Holding jumped 7% after announcing a binding term sheet for a proposed $100 million strategic investment from Kazakhstan-based private investment group iHolding Group LLP.

Vera Therapeutics gained 6% ahead of its July 7 Prescription Drug User Fee Act (PDUFA) decision for atacicept, its investigational treatment for IgA nephropathy. Investors are awaiting the FDA’s decision on the company’s application for accelerated approval.

Solaris Energy Infrastructure rose 3.9% after Wolfe Research initiated coverage with an Outperform rating and a $120 price target. The company also announced the acquisition of power generation services provider Global Energy Services Alliance for approximately $55 million in cash and stock.

Strategy climbed 3.4% as investors continued to digest the company’s newly adopted Digital Credit Capital Framework, which authorizes the selective monetization of up to $1.25 billion of its Bitcoin holdings to bolster liquidity, fund preferred dividends and support share repurchases.

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