What’s moving these stocks in the pre-market hours today?
In the Green
1. Seneca Biopharma Inc. (SNCA) is up more than 18% at $0.93 in pre-market hours Tuesday on no news. Last week, the company announced a definite agreement to merge with privately-held Leading BioSciences Inc. The merger is expected to close in the first half of 2021. Upon completion of the merger, the company will be renamed Palisade Bio Inc. and will trade on the Nasdaq Capital Market under the ticker symbol PALI.
2. Liminal BioSciences Inc. (LMNL) is up over 10% at $5.60 in pre-market hours today, adding to yesterday’s gain of 23%, on no news. The lead product candidate is Ryplazim for the treatment of congenital plasminogen deficiency, which is under FDA review, with a decision expected on June 5, 2021. This is Ryplazim second go-around with the FDA. It was denied regulatory approval in 2018. A phase I multiple ascending dose clinical trial of Fezagepras in healthy volunteers was initiated last week and the company expects to take forward the compound into phase 2 clinical development in patients with idiopathic pulmonary fibrosis in the second half of 2021.
3. ZIOPHARM Oncology Inc. (ZIOP) is up over 9% at $3.07 in pre-market trading Tuesday, following clearance from the Taiwan Food and Drug Administration to initiate a phase 1 clinical trial of patient-derived CD19-specific CAR-T, using the company’s Rapid Personalized Manufacturing (RPM) technology. This is an investigational treatment for patients with relapsed CD19+ leukemias and lymphomas and the first clinical study of autologous non-viral CD19-specific CAR-T in Taiwan. The study is designed to enroll up to 24 patients with relapsed CD19+ leukemias and lymphomas.
4. Sangamo Therapeutics Inc. (SGMO), a genomic medicines company, is up over 9% at $16.50 in pre-market trading, adding to yesterday’s gain of 5%, on no news. Ever since the interview of Catherine Wood, CEO and founder of ARK Investment, by Bloomberg on Dec.18, the gene therapy stocks are in the green. According to Wood, “the biggest upside surprises are going to come from the genomic space”.
In the Red
1. Venus Concept Inc. (VERO), a global medical aesthetic technology company, is down over 18% at $2.07 in pre-market trading Tuesday, following a proposed public offering of its common stock. In the third quarter ended September 30, 2020, the results of which were announced last month, the total GAAP revenue decreased 21% year-over-year to $20.7 million from $26.2 million for the third quarter 2019, driven by the negative impact on the business as a result of the COVID-19 global pandemic.
2. Exicure Inc. (XCUR) is down more than 9% at $1.92 in pre-market hours today. Yesterday, the company was issued two new U.S. patents and a new patent allowance covering Cavrotolimod through 2034. Cavrotolimod is currently in a phase II clinical trial for the potential treatment of Merkel cell carcinoma and cutaneous squamous cell carcinoma.
3. Novan Inc. (NOVN) is down over 7% at $0.62 in pre-market hours today. Yesterday, the company announced that it has engaged Catalent to develop intranasal formulation of Berdazimer Sodium for COVID-19 program. If all goes well as planned, Novan expects initiating human clinical trials in the second half of 2021.
4. EyeGate Pharmaceuticals Inc. (EYEG) is down nearly 7% at $4.85 in pre-market trading today, giving back some of what it gained yesterday. The stock was up over 45% yesterday after the company announced the acquisition of Panoptes Pharma, a privately-held clinical stage biotech company focused on developing a novel proprietary small molecule for the treatment of severe eye diseases with a high unmet medical need.
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