What’s moving these stocks in the pre-market hours today?
In the Green
1. ReWalk Robotics Ltd. (RWLK), a manufacturer of robotic medical devices for individuals with lower limb disabilities, is up over 44% at $1.67 in pre-market trading Friday. The company is slated to report Q3 financial results on November 11. On average, Wall Street analysts expect the company to incur a loss of $0.16 per share on revenue of $1.1 million.
2. Entasis Therapeutics Holdings Inc. (ETTX), a clinical-stage biopharmaceutical company developing novel antibacterial products, is up more than 9% at $2.30 in pre-market hours today. A phase III registration trial of SUL-DUR for the treatment of patients with pneumonia and bloodstream infections caused by carbapenem-resistant Acinetobacter baumannii, dubbed ATTACK, and a phase III registration trial of Zoliflodacin for the treatment of uncomplicated gonorrhea are underway. As of June 30, 2020, cash, cash equivalents and short-term investments were $50.8 million.
3. Amarin Corporation plc (AMRN) is up over 5% at $5.32 in pre-market trading Friday, following promising data from the post hoc subgroup analyses of the landmark REDUCE-IT study of VASCEPA presented at the Transcatheter Cardiovascular Therapeutics (TCT) Connect 2020. According to the new findings, VASCEPA significantly reduced ischemic events in patients with prior Percutaneous Coronary Intervention. VASCEPA, the company’s lead drug, is approved for use as an adjunct therapy to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
4. Chembio Diagnostics Inc. (CEMI) is up over 4% at $5.05 in pre-market hours today, following submission of an application for Emergency Use Authorization to the FDA for the DPP SARS-CoV-2 Antigen test system. This rapid test is designed to provide results in 20 minutes.
In the Red
1. Galapagos NV (GLPG) is down nearly 9% at $126.18 in pre-market hours today. Yesterday, Servier and Galapagos announced that their phase II trial with GLPG1972/S201086 in knee osteoarthritis patients, dubbed ROCCELLA, failed to meet the primary and secondary objectives.
2. Novan Inc. (NOVN) is down over 4% at $0.58 in pre-market hours today. On October 14, the company announced positive in vitro results showing the potential efficacy of its NITRICIL platform technology as an antiviral against SARS-CoV-2. A potential IND filing is targeted in 2021.
3. Intuitive Surgical, Inc. (ISRG) is down 2.83% at $720 in pre-market hours today, following its Q3 financial results. For the third quarter of 2020, non-GAAP net income declined to $334 million or $2.77 per share on revenue of $1.08 billion. This compared with a non-GAAP net income of $409 million or $3.43 per share and revenue of $1.13 billion in the third quarter of 2019. Wall Street analysts were expecting earnings of $2.07 per share on revenue of $0.97 billion.
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