Pre-Open Stock Movers 07/06: (ADXS) (AXLA) (WB) Higher; (PRVB) (DIDI) (LLNW) Lower (more...)

Pre-Open Stock Movers:

Advaxis, Inc. (NASDAQ: ADXS) 38.7% HIGHER; Advaxis and Biosight Ltd. (Biosight), a privately held pharmaceutical development company developing innovative therapeutics for hematological malignancies and disorders, today announced that the companies have entered into a definitive merger agreement pursuant to which the shareholders of Biosight will become the majority holders of the combined company immediately following completion of the transaction. The proposed merger will create a public company that will prioritize the clinical advancement and commercialization of Biosights lead product, aspacytarabine (BST-236). The combined company is expected to have approximately $50 million in cash, cash equivalents and marketable securities at closing. Following the closing, which is expected to occur in the second half of 2021, Advaxis will be renamed Biosight Therapeutics and is expected to trade on the Nasdaq Capital Market under the ticker symbol BSTX.

Provention Bio, Inc. (Nasdaq: PRVB) 24% LOWER; announced that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) for the Company's Biologics License Application (BLA) for teplizumab for the delay of clinical type 1 diabetes (T1D) in at-risk individuals.

DiDi Global Inc. (NYSE: DIDI) 23.7% LOWER; announced that according to the announcement posted by the Cyberspace Administration of China on July 4, 2021, the CAC stated that it was reported and confirmed that the "DiDi Chuxing" app had the problem of collecting personal information in violation of relevant PRC laws and regulations. Pursuant to the PRC's Cybersecurity Law, the CAC notified app stores to take down the "DiDi Chuxing" app in China, and required the Company to strictly comply with relevant laws and regulations, follow the relevant standards set by the PRC government authorities, and rectify the problem to ensure the security of users' personal information.

Axcella Health Inc. (NASDAQ: AXLA) 19% HIGHER; H.C. Wainwright initiates coverage with a Buy rating and a price target of $14.00.

Weibo (NASDAQ: WB) 13.3% HIGHER; A representative for Weibo (NASDAQ: WB) told Bloomberg that reports of it going private are not true, denying earlier rumors from Reuters that said the chairman of the company and a state investor are in talks to take the company private.

Limelight Networks, Inc. (NASDAQ: LLNW) 4.2% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $2.50 (from $3.00).

AMC Entertainment (NYSE: AMC) 3.7% HIGHER; has withdrawn proposal to increase shares

American Express (NYSE: AXP) 1.9% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $225.00.

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