Pre-market Movers In Healthcare Sector: SONN, OBSV, OSUR, CVAC, OCGN…
What’s moving these stocks in the pre-market hours today?
In the Green
1. Sonnet BioTherapeutics Holdings Inc. (SONN) is up over 13% at $2.78 in pre-market trading Friday. The company is focused on developing FHAB-conjugated therapies that leverage human serum albumin. Its lead compound is SON-080, for chemotherapy-induced peripheral neuropathy, ready to enter phase II development.
2. ObsEva SA (OBSV) is up more than 7% at $2.90 in pre-market trading Friday, on news that H.C. Wainwright & Co., the sole book-running manager for the underwritten offering and exclusive placement agent for the private placement, has agreed to purchase 6.45 million units at an effective price of $2.869 per unit. The offering is expected to close on or about September 8, 2020, fetching the company gross proceeds of roughly $18.5 million.
3. OraSure Technologies Inc. (OSUR) is up nearly 5% at $11.22 in pre-market trading on news of the FDA granting Emergency Use Authorization for its ORAcollect RNA (OR-100) collection device. ORAcollect RNA, utilized by MiraDx Inc., is intended to collect oropharyngeal samples in their COVID-19 testing program for essential workers and first responders.
4. CureVac AG (CVAC) is up over 4% at $59.39 in pre-market hours today. The company’s vaccine to prevent SARS-CoV-2 infection is under phase I testing in Germany and Belgium. Results from this study are anticipated in early Q4 2020, with the initiation of a phase 2b/3 clinical trial also planned during the next quarter.
In the Red
1. Ocugen Inc. (OCGN) is down nearly 8% at $0.35 in pre-market hours Friday, giving back some of what it gained yesterday. The company is scheduled to make a presentation at the H.C. Wainwright 22nd Annual Global Investment Conference on September 15. The lead product candidate is OCU400, which is under pre-clinical testing, with the potential to treat many forms of retinitis pigmentosa. The stock was up nearly 24% yesterday.
2. Avinger Inc. (AVGR), a commercial-stage medical device company, is down more than 5% at $0.40 in pre-market hours today, adding to yesterday’s loss of more than 6%. In the second quarter ended June 30, 2020, the results of which were announced in July, total revenue was $1.5 million, a decrease of 37% from the year-ago quarter.
3. EyePoint Pharmaceuticals Inc. (EYPT) is down 5% at $0.47 in pre-market hours today on no news. The last when we heard from the company was on August 24, about the purchase and marketing agreement with Vantage Outsourcing for DEXYCU 9%, a marketed intraocular product for the treatment of postoperative inflammation.
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