Pre-market Movers In Healthcare Sector: ORGO, NMRD, NK, CYCN…
What’s moving these stocks in the pre-market hours today?
In the Green
1. Organogenesis Holdings Inc. (ORGO), a commercial-stage regenerative medicine company, is up over 23% at $4.67 in pre-market trading Thursday, following encouraging preliminary financial results for the third quarter ended September 30, 2020. Net revenue for the quarter is expected to be between $99.0 million and $100.0 million compared to net revenue of $64.3 million in the year-ago quarter and well above analysts’ consensus estimate of $71.96 million. The company is slated to report Q3 results on November 9.
2. Nemaura Medical Inc. (NMRD) is up 12% at $4.20 in pre-market hours on no news. In its last earnings report, released on August 17, the company had stated that it continues to make progress towards manufacture, scale-up, and commercial sales of sugarBEAT in Germany and the UK, and proBEAT in the U.S. during this calendar year.
3. NantKwest Inc. (NK) is up over 10% at $9.99 in pre-market hours today following news of its partner ImmunityBio Inc., a privately-held immunotherapy company, getting FDA clearance to begin a Phase I clinical trial of COVID-19 vaccine candidate hAd5-COVID-19.
4. Clovis Oncology Inc. (CLVS) is up over 5% at $6.36 in pre-market trading Thursday on no news. The company’s lead cancer med is Rubraca, which is indicated for the treatment of patients with ovarian cancer, fallopian tube cancer, or peritoneal cancer. The net product revenue for Rubraca in the second quarter of 2020 was $39.9 million compared to $33.0 million in the year-ago quarter. The Q3 financial report is slated to be released on November 5.
5. Grifols S.A. (GRFS) is up more than 5% at $19.34 in pre-market hours today on no news. The company is involved in the development of life-saving plasma-derived medicines, clinical diagnostics, and pharmaceutical specialties for hospital use. For the first half of 2020, the results of which were reported in July, revenues increased by 10.5% to EUR 2,677 million compared to the year-ago period.
In the Red
1. Cyclerion Therapeutics Inc. (CYCN) is down over 5% in pre-market trading Thursday, adding to yesterday’s loss of over 52%. The stock plunged yesterday after the company announced that it is discontinuing the development of Olinciguat in the treatment for sickle cell disease, following disappointing data from its phase II study, dubbed STRONG-SCD.
2. Auris Medical Holding Ltd. (EARS) is down over 8% at $0.96 in pre-market hours on no news. The company recently initiated Part B of its “TRAVERS” Phase 2 trial of AM-125 in acute vertigo. The enrollment into Part B of the TRAVERS trial is expected to be completed by the end of the first quarter of 2021.
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