(RTTNews) - What's moving these stocks in the pre-market hours today?
In the Green
1. Scholar Rock Holding Corp. (SRRK) is up over 18% at $35.53 in pre-market trading Wednesday, adding to yesterday's impressive gain of 118%. Yesterday, the company had announced promising six-month results of a phase II study of SRK-015 in the treatment of patients with spinal muscular atrophy, dubbed TOPAZ. An underwritten public offering of $150 million of shares of common stock has also been announced, with the underwriters expected to be provided a 30-day option to purchase up to an additional $22.50 million of shares of common stock.
2. Selecta Biosciences Inc. (SELB) is up over 7% at $3.19 in pre-market hours today on no news. Early this month, the company entered into a Research License and Option agreement with IGAN Biosciences, Inc. to study Selecta's ImmTOR immune tolerance platform in combination with IGAN's immunoglobulin A (IgA) protease for the treatment of IgA Nephropathy. Selecta's first program aimed at addressing immunogenicity to AAV gene therapies is expected to enter clinical trials in early 2021 in partnership with AskBio for the treatment of methylmalonic acidemia (MMA), a rare metabolic disorder. A phase 3 clinical program of the company's lead candidate SEL-212 for chronic refractory gout is underway, with topline data expected in the second half of 2022. Swedish Orphan Biovitrum AB, or Sobi in short, has in-licensed SEL-212 from Selecta and will be responsible for development, regulatory and commercial activities in all markets outside of China.
3. InVivo Therapeutics Holdings Corp. (NVIV) is up over 6% at $0.59 in pre-market hours. The company closed its $15.0 million public offering yesterday. The company's proprietary and investigational Neuro-Spinal Scaffold is in pivotal clinical studies for acute spinal cord injury. Enrollment in the follow-up study of the Neuro-Spinal Scaffold is expected to be completed by Q2, 2021.
4. Adamis Pharmaceuticals Corp. (ADMP) is up over 3% at $0.78 in pre-market hours on no news. The third quarter financial results are slated to be reported on November 10. The company's resubmitted New Drug Application for ZIMHI, proposed for the treatment of opioid overdose, is under FDA review, with a decision expected on November 15, 2020.
In the Red
1. Neovasc Inc. (NVCN) is down over 32% at $1.24 in pre-market trading Wednesday. An FDA panel reviewed the company's premarket approval application for Neovasc Reducer System yesterday. The Neovasc Reducer System is proposed for the treatment of patients suffering from refractory angina pectoris who are unsuitable for revascularization by coronary artery bypass grafting or by percutaneous coronary intervention.
2. Catabasis Pharmaceuticals Inc. (CATB) is down over 7% in pre-market trading today, adding to yesterday's loss of over 70%. The stock plunged yesterday on news of the company's phase III trial of Edasalonexent in Duchenne muscular dystrophy, dubbed PolarisDMD, failing to meet the primary and secondary endpoints.
3. BioNTech SE (BNTX) is down over 5% at $78.99 in pre-market hours. The company, along with Pfizer (PFE) is developing BNT162b2, a vaccine candidate against COVID-19. This vaccine candidate is currently being evaluated in a global phase III study that is underway at more than 150 clinical sites. Earlier, it was expected that the efficacy results from the phase III trial of the COVID-19 vaccine candidate would be available this month. However, in an investor presentation yesterday, Pfizer reveled that the Data Monitoring Committee has not conducted any interim efficacy analyses to date.
4. Medigus Ltd. (MDGS) is down over 5% at $2.31 in pre-market hours today on no news. Medigus is a technology company engaged in advanced medical solutions and innovative internet technologies.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.