What’s moving these stocks in pre-market hours today?
In the Green
1. Sonoma Pharmaceuticals Inc. (SNOA) is up more than 69% in pre-market trading Wednesday, following news that Microsafe Disinfectant & Sanitizer manufactured by it has successfully passed both the Boeing Specification Standard BSS7434 and the British Aerospace Airbus specification AIMS09-00-002. The passing of these tests validates the compatibility and safety of the Microsafe Disinfectant & Sanitizer on the interior and exterior parts and materials of Boeing and Airbus commercial transport aircraft, says the company.
2. Achieve Life Sciences Inc. (ACHV) is up more than 43% at $0.82 in pre-market trading today, adding to yesterday’s gain of more than 17%. The company’s lead product candidate is Cytisinicline, a plant-based alkaloid, which is believed to aid in smoking cessation.
Last month, the company announced successful topline results from the New Zealand RAUORA phase III non-inferiority clinical trial comparing Cytisinicline to Pfizer’s drug for smoking cessation Chantix in Maori (indigenous New Zealanders) and whanau (family) of Maori. According to the trial results, Cytisinicline demonstrated quit rates at least as effective as Chantix and had fewer side effects than Chantix. The company expects to initiate a phase III U.S. trial of Cytisinicline later this year.
3. Titan Medical Inc. (TMDI) is up more than 10% at $1.11 in premarket trading on no news. The company is scheduled to make a presentation in the plenary session titled “Future Robotic Platforms” on Saturday, August 1 at the Society of Robotic Surgery (SRS) 2020 World Robotic Symposium.
4. Immuron Limited (IMRN) is up over 5% at $11.53 in pre-market trading today. On July 23, the company announced the closing of its previously announced registered direct offering of 1.07 million American Depositary Shares at a purchase price of $18.75 per ADS for gross proceeds of approximately US$20.0 million. On July 21st, the shares had soared over 100% to touch $21.30 in intraday trading, following news that IMM-124E used to manufacture its flagship commercially available and over-the-counter gastrointestinal and digestive health immune supplements Travelan and Protectyn demonstrated neutralizing activity against the SARS-CoV-2 virus that causes COVID-19 in laboratory studies.
In the Red
1. Sunesis Pharmaceuticals Inc. (SNSS) is down more than 14% at $0.33 in pre-market hours, following a proposed public offering of its common stock.
2. TransEnterix Inc. (TRXC) is down more than 7% at $0.41 in pre-market hours Wednesday, giving back some of what it gained yesterday. On July 27, the company announced that Maastricht University Medical Center+ has entered into an agreement to lease and utilize a Senhance Surgical System, which would be the first hospital to acquire a Senhance to be utilized in pediatric minimally invasive surgery. TransEnterix’ Senhance System is an FDA-cleared abdominal robotic surgery platform.
3. Soligenix Inc. (SNGX) is down more than 9% at $2.38 in pre-market trading, giving back some of what it gained yesterday. The shares were up over 22% yesterday, following the publication of pre-clinical immunogenicity studies of its CiVax program (heat stable COVID-19 vaccine). The studies have demonstrated that immunity of both broad-spectrum antibody and cell-mediated, rapid onset immunity are possible using the CoVaccine HT adjuvant.
4. Ocugen Inc. (OCGN) is down over 8% at $0.65 in pre-market trading on no news. On July 27, the company’s gene therapy product candidate OCU400 was granted Orphan Drug Designation by the FDA in the treatment of RHO mutation-associated retinal degeneration. OCU400’s potential is being explored in the treatments of RHO mutation-associated retinal degeneration, CEP290 mutation-associated retinal degeneration, and NR2E3 mutation-associated retinal degeneration. This product is under pre-clinical testing.
5. Tonix Pharmaceuticals Holding Corp. (TNXP) is down more than 11% at $1.04 in pre-market trading. The company is slated to present preclinical results of TNX-1900 (oxytocin solution for intranasal delivery) at the American Academy of Neurology’s first-ever Sports Concussion Conference on July 31.
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