Pre-market Movers In Healthcare Sector: KZIA, LMNL, OCGN, INO, ONCT…
What’s moving these stocks in the pre-market hours today?
In the Green
1. Kazia Therapeutics Limited (KZIA) is up over 23% at $12.20 in pre-market trading Wednesday, following news that results from a new interim analysis of a phase II study of Paxalisib in glioblastoma are highly consistent with prior data reported in June. As per the updated data, Paxalisib is associated with an overall survival of 17.5 months and a progression-free survival of 8.4 months, consistent with the June data. The current standard of care in patients with glioblastoma, Temozolomide, is associated with an overall survival of 12.7 months and a progression-free survival of 5.3 months.
2. Ocugen Inc. (OCGN) is up over 4% at $0.30 in pre-market hours today on no news. On Monday, Roth Capital analyst initiated coverage of OCGN with a Buy rating and $1 price target. The company’s biologic product candidate OCU200 is in preclinical development for treating severely sight-threatening diseases like Diabetic Macular Edema, Diabetic Retinopathy, and Wet Age-Related Macular Degeneration. Its first gene therapy product candidate, OCU400, for retinitis pigmentosa, is expected to enter the clinic next year.
3. Acasti Pharma Inc. (ACST) is up more than 4% at $0.22 in pre-market trading today on no news. The company has engaged Oppenheimer & Co. Inc. as its financial advisor to assist in the strategic review process.
4. Liminal BioSciences Inc. (LMNL), a clinical-stage biopharmaceutical company, is up more than 3% at $4.02 in pre-market trading today on no news. The company’s lead candidate Ryplazim, proposed for the treatment of clinical signs and symptoms associated with congenital plasminogen deficiency, is under FDA review, with a decision expected on June 5, 2021. Ryplazim was denied FDA approval in 2017.
5. BioNTech SE (BNTX) is up over 2% at $89.33 in pre-market hours. The company’s COVID-19 vaccine candidate, BNT162b2, co-developed with Pfizer is under phase III development in the United States, Germany, Argentina, Brazil, South Africa, Turkey and other countries. BNT162b2 has been found to be more than 90% effective, according to first interim analysis of the phase III trial. A rolling submission to the European Medicines Agency for BNT162b2 has also been initiated.
In the Red
1. Oncternal Therapeutics Inc. (ONCT) is down nearly 24% at $3.15 in pre-market trading, following a $22.5 million bought deal offering, wherein the underwriter has agreed to purchase 7.26 million shares of common stock at a price of $3.10 each. The offering is expected to close on or about November 20.
2. Inovio Pharmaceuticals Inc. (INO) is down over 4% at $11.22 in pre-market hours today, adding to yesterday’s loss of nearly 9%. Yesterday, Roth Capital analyst Jonathan Aschoff downgraded the stock to Sell from Neutral and set a price target of $8. The company is developing a COVID-19 vaccine candidate, and it was only on Nov.16 that it received FDA clearance to proceed with the phase II segment of its planned phase II/III clinical trial for INO-4800, its COVID-19 vaccine candidate, dubbed INNOVATE.
3. Lexicon Pharmaceuticals Inc. (LXRX) is down over 2% at $1.76 in pre-market hours today, giving back some of what it gained yesterday. The stock was up over 40% yesterday on news of two of the company’s phase III clinical trials evaluating the cardiovascular efficacy of Sotagliflozin in patients with type 2 diabetes, dubbed SOLOIST and SCORED, achieving their primary endpoints.
4. Evogene Ltd. (EVGN) is down over 3% at $2.89 in pre-market trading Wednesday. The company is scheduled to release its financial results for the third quarter of 2020 today.
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