Pre-Open Stock Movers 04/25: PS Business Parks and Twitter Jump on Deal News; Axsome Sinks on Expected CRL (more...)

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Pre-Open Stock Movers 04/25: PS Business Parks and Twitter Jump on Deal News; Axsome Sinks on Expected CRL (more...)
Credit: © Reuters.

Pre-Open Stock Movers:

Nkarta Inc (NASDAQ: NKTX ) 90% HIGHER; announced positive preliminary Phase 1 data from independent dose finding studies of its two lead chimeric antigen receptor (CAR) natural killer (NK) cell therapy candidates, NKX101 and NKX019, in two distinct groups of hematologic malignancies.

Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX ) 47% HIGHER; received FDA clearance to initiate clinical testing for its Investigational New Drug (IND) application for QRX003, the Company's investigational product for Netherton Syndrome (NS).

Erytech Pharma (NASDAQ: ERYP ) 46% HIGHER; announced the sale of its U.S. manufacturing facility to Catalent (NYSE: CTLT ), a leading contract development and manufacturing organization (CDMO) in advanced therapies.

Ardelyx, Inc. ( Nasdaq : NASDAQ: ARDX ) 36% HIGHER; the Office of New Drugs (OND), Center for Drug Evaluation and Research (CDER) of the FDA has provided an interim response to Ardelyx's second level of appeal of the Complete Response Letter (CRL) received on July 28, 2021, for XPHOZAH... Accordingly, the OND intends to direct the Division of Cardiology and Nephrology to bring the XPHOZAH New Drug Application (NDA) to the Cardiovascular and Renal Drugs Advisory Committee, and to provide a response to Ardelyx's appeal within thirty (30) days after the conclusion of the Advisory Committee meeting.

Axsome Therapeutics, Inc. (NASDAQ: AXSM ) 25% LOWER; FDA found chemistry, manufacturing, and controls ( CMC (NS: CMC )) issues during its review of AXS-07. The company now expets a CRL.

Phillips (PHG) 12% LOWER; Q1 sales EUR 3.9 billion, with a 4% comparable sales decline on the back of 9% comparable sales growth in Q1 2021. Adjusted EBITA of EUR 243 million, or 6.2% of sales, compared to 9.5% of sales in Q1 2021

PS Business Parks (NYSE: PSB ) 10% HIGHER; Reports Blackstone (NYSE: BX ) will acquire the company for $7.6 billion.

Gossamer Bio, Inc. (Nasdaq: NASDAQ: GOSS ) 9% LOWER; announced topline results from its Phase 2 SHIFT-UC Study clinical trial studying GB004 in patients with mild-to-moderate active ulcerative colitis (UC). Neither GB004 treatment arm met the primary or secondary endpoints at week 12. Based on the totality of the available data, Gossamer will terminate the ongoing treat-through and open-label extension portions of the Phase 2 SHIFT-UC Study for lack of treatment benefit.

Silicon Motion Technology (NASDAQ: SIMO ) 6% HIGHER; is exploring a potential sale amid takeover interest, Bloomberg reported.

Twitter (NYSE: TWTR ) 5% HIGHER; Elon Musk and the company are making progress on a possible deal, according to reports. A definitive agreement could be announced as early as today.

Newmont Mining Corp. (NYSE: NEM ) 4% LOWER; Bernstein downgraded to Market Perform with a price target of $57..

Coca Cola (KO) 2% HIGHER; posted Q1 EPS of $0.64, versus the consensus of $0.58. Revenue was $10.5 billion versus the consensus estimate of $9.83 billion.

Tesla (NASDAQ: TSLA ) 2% LOWER; sees continued weakness.

Penn National Gaming (NASDAQ: PENN ) (PENN) 2% HIGHER; Morgan Stanley (NYSE: MS ) upgraded from Equalweight to Overweight with a price target of $51.

AMD (AMD) 1% HIGHER; Raymond (NS: RYMD ) James upgraded to Strong Buy with a price target of $160.

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