What’s moving these stocks in the pre-market hours today?
In the Green
1. Shares of Infinity Pharmaceuticals Inc. (INFI) are up more than 40% at $1.04 in pre-market trading Thursday, on no specific news. The Company’s lead drug candidate is IPI-549. In May, a phase II study evaluating IPI-549 in combination with Opdivo in platinum-refractory, I/O naïve patients with advanced urothelial cancer, dubbed MARIO-275, was voluntarily paused to evaluate the risk/benefit for patients. A phase II study of IPI-549 with Tecentriq and Abraxane in front-line triple-negative breast cancer and IPI-549 with Tecentriq and Avastin in front-line renal cell cancer, dubbed MARIO-3, is also underway. Updates on these trials are expected to be provided when the Company reports second-quarter results during the last week of July.
2. Bionano Genomics Inc. (BNGO) is up more than 24% at $0.58 in pre-market trading today. The Company sells Saphyr, a DNA sequencing system that detects large-scale structural variations. A study by European Consortium that compared data generated with Bionano’s Saphyr system against gold standard cytogenetic methods has shown 100% concordance to gold-standard cytogenetic testing. Moreover, in patients with leukemia, Saphyr enabled crucial discoveries including novel fusion events never described before in that disease and Saphyr solved previously unidentified genetic diseases by finding novel mutations, as per the study that was presented yesterday.
3. Acer Therapeutics Inc. (ACER) is up more than 12% at $3.63 in pre-market trading, following an update on its investigational drug ACER-001 for people with a urea cycle disorder, which is under a pivotal bioavailability and bioequivalence (BE) trial.
4. Ocugen Inc. (OCGN) is up 10% at $0.23 in pre-market trading on no specific news. The last what was heard from the Company was on June 1, 2020, when it announced the discontinuation of its phase III trial of OCU300 for ocular Graft vs. Host Disease (oGVHD) on the recommendation of an independent Data Monitoring Committee, which indicated the trial was unlikely to meet its co-primary endpoints upon completion.
In the Red
1. Unum Therapeutics Inc. (UMRX) is down more than 7% at $2.75. The stock has been rallying since July 6, 2020, gaining as much as 570% on private placement and completion of the acquisition of Kiq LLC, a privately held biotechnology company focused on the discovery and development of precision kinase inhibitors.
2. MYOS RENS Technology Inc. (MYOS) is down over 5% at $1.40 in pre-market trading. On June 30, MedAvail Inc., a private, in-clinic telemedicine-enabled pharmacy organization, executed a reverse merger with MYOS RENS Technology to create a combined company that will focus on advancing MedAvail’s network of in-clinic pharmacies within Medicare sites across the U.S. The combined company is expected to operate under the name MedAvail Holdings Inc. and to continue to trade on the Nasdaq Capital Market. The muscle health business of MYOS will be spun off as a private unaffiliated company. The transaction is expected to close by December 31, 2020.
3. Kitov Pharma Ltd (KTOV) is down more than 4% at $0.58 in pre-market trading Thursday, giving back some of what it gained yesterday. The stock was up over 14% yesterday after the Company provided an update on its current pipeline and cash position.
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