Pre-market Movers In Healthcare Sector: MDRX, TLC, HGEN, ENLV, BNTX, ATEC...

(RTTNews) - What's moving these stocks in the pre-market hours today?

In the Green

1. Genesis Healthcare Inc. (GEN), which touched a 52-week low of $0.50 yesterday, is up over 43% at $0.75 in pre-market trading Wednesday. In the second quarter ended June 30, 2020, the results of which were reported in August, the company incurred a wider loss of $22 million or $0.20 per share on revenue of $0.96 billion. This compared with a net loss of $4.82 million or $0.05 per share and revenue of $1.15 billion in the year-ago quarter.

2. Allscripts Healthcare Solutions Inc. (MDRX) is up 38.39% at $11.50 in pre-market hours on the execution of a definitive agreement to sell its CarePort Health business to WellSky Corp., a global health and community care technology company, for $1.35 billion. The transaction is expected to close before the end of the year.

3. Taiwan Liposome Co. Ltd. (TLC) is up over 36% at $6.3 in pre-market hours today, following news that the first subject has been enrolled in its phase I clinical trial of TLC19 for treatment or prophylaxis of COVID-19. The study is designed to enroll 30 healthy volunteer subjects.

4. Humanigen Inc. (HGEN) is up over 32% at $15.92 in pre-market hours on news of the company's investigational monoclonal antibody Lenzilumab being selected by the National Institutes of Health for its ACTIV-5 "Big Effect Trial". This trial will evaluate Lenzilumab with Gilead's Remdesivir, compared to placebo and Remdesivir, in hospitalized COVID-19 patients.

5. Enlivex Therapeutics Ltd. (ENLV) is up over 6% at $14.77 in pre-market hours today, adding to yesterday's gain of more than 22%. Yesterday, the company announced that the Israeli Ministry of Health authorized the initiation of a proposed investigator-initiated phase II clinical trial evaluating Allocetra in severe and critical COVID-19 patients. The trial is designed to enroll up to 24 patients.

6. BioNTech SE (BNTX) is up 4% at $9.65 in pre-market trading Wednesday. The company, along with Pfizer (PFE) is developing BNT162b2, a vaccine candidate against COVID-19. This vaccine candidate is currently being evaluated in a global phase III study that is underway at more than 120 clinical sites worldwide. The companies have initiated rolling submission for BNT162b2 in Europe and Canada.

7. Heat Biologics Inc. (HTBX) is up over 3% at $1.36 in pre-market trading today on no news. On October 7, the company announced it was issued an additional U.S. patent on gp96 combination platform therapy with T-cell co-stimulator. Heat's gp96 combination with a T cell co-stimulator is expected to have utility in combating viral infections, beyond its potential in oncology.

In the Red

1. Sorrento Therapeutics Inc. (SRNE) is down more than 10% at $10.73 in pre-market hours. On October 12, the company entered into an exclusive license agreement with Personalized Stem Cells, Inc. to acquire global rights to its adipose-derived mesenchymal stem cells, or MSC. The FDA has given clearance to initiate a phase I trial of adipose-derived allogeneic MSC product candidate for patients suffering from acute respiratory distress syndrome (ARDS) associated with COVID-19.

2. Alphatec Holdings Inc. (ATEC) is down over 9% at $9.26 in pre-market hours today, following the pricing of an underwritten public offering of 11.4 million shares of the company's common stock at a price of $8.75 each. The underwriters have a 30-day option to purchase up to an additional 1.71 million shares. The offering, which is slated to close on October 16, 2020, is expected to rake in gross proceeds of roughly $100 million.

3. Ocular Therapeutix Inc. (OCUL) is down more than 8% at $11.05 in pre-market hours today on news of the company commencing an underwritten public offering of its common stock. Last week, the company released preliminary third-quarter 2020 total net product revenue figures which were in the range of $5.8 to $5.9 million, representing a greater than 250 % sequential increase over the second quarter. The net product revenue in the third quarter of 2019 was $0.8 million. The Q3 financial results are scheduled to be reported on November 5.

4. Cytokinetics Inc. (CYTK) is down more than 7% at $15.58 in pre-market hours Wednesday on no news. On October 8, the company reported topline results from a phase III pivotal trial of Omecamtiv Mecarbil in patients with heart failure with reduced ejection fraction, dubbed GALACTIC-HF. While the study met the primary composite endpoint of reduction in cardiovascular death or heart failure events, it did not meet the secondary endpoint of reduction in cardiovascular death. The news sent the stock down over 40% to $16 that day.