Pre-market Movers In Healthcare Sector: XTNT, NNOX, VXRT, INO, MESO…

What’s moving these stocks in the pre-market hours today?

In the Green

1. Xtant Medical Holdings Inc. (XTNT) is up over 69% at $1.39 in pre-market trading Friday, on news that the global medical technology company focused on surgical solutions for the treatment of spinal disorders has completed its previously announced debt restructuring transaction. This debt restructuring transaction has significantly reduced the company’s total indebtedness to less than $16 million under its credit facility.

2. Nano-X Imaging Ltd. (NNOX) is up over 21% at $29.20 in pre-market hours today as the medical imaging technology company gears up for the live demonstration of its flagship Nanox.ARC System at Radiology Society of North America 2020, which is being held November 29 – December 5 in Chicago. The company went public on the Nasdaq Global Market on August 21, 2020, offering its shares at a price of $18 each.

3. Adial Pharmaceuticals Inc. (ADIL) is up over 17% at $2.46 in pre-market hours today on no news. On Sep.30, the company announced that it has received an initial firm order for the purchase of 10,000 Assure/FaStep COVID-19 IgG/IgM Rapid Test Devices from a California-based technology corporation. The FaStep COVID-19 IgG/IgM Rapid Test Device is the first serology (antibody) point-of-care (POC) test for COVID-19 using fingerstick blood samples to have secured emergency use authorization from the FDA.

4. iBio Inc. (IBIO) is up over 12% at $2.31 in pre-market trading Friday. Last month, the company selected IBIO-201, its LicKM-Subunit vaccine, as the leading candidate to advance into clinical testing for the prevention of SARS-CoV-2 infection.

5. Vaxart Inc. (VXRT) is up more than 9% at 7.51 in pre-market trading today on no news. Last month, the company was given FDA clearance to initiate a phase I trial of its oral COVID-19 vaccine. Two ongoing studies of the company’s vaccine candidate in hamsters are underway, with data expected mid-October.

6. Inovio Pharmaceuticals, Inc. (INO) is up over 4% at $12.30 in pre-market hours on no news. On Sep.28, the company announced that its planned phase II/III trial of COVID-19 vaccine candidate INO-4800 has been placed on partial hold by the FDA. The news sent the stock down over 28% to $12.14 that day. An expanded phase I study of INO-4800 in the U.S., and a phase I/II trial of INO-4800 in South Korea are underway, and they are not impacted by the clinical hold.

In the Red

1. Mesoblast Limited (MESO) is down over 35% at $12 in pre-market hours Friday, following the FDA’s refusal to approve Ryoncil (Remestemcel-L) for the treatment of pediatric steroid-refractory acute graft versus host disease (SR-aGVHD). It should be noted that on August 13, the FDA’s Oncologic Drugs Advisory Committee had voted 9 to 1 recommending approval of Ryoncil. Now, the company has been required by the FDA to conduct at least one additional randomized, controlled study in adults and/or children to provide further evidence of the effectiveness of Ryoncil.

2. Evogene Ltd. (EVGN) is down over 6% at $3.77 in pre-market hours today on no news. This computational biology company focused on revolutionizing product development for life-science based industries received a $10 million equity investment by ARK Investment Management LLC and Alpha Capital Anstalt last month.

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