After Hours Summary: MGI -6.3% lower on terminated merger news, TRVN +16.7% / TTPH +6.6% following FDA NDA updates
After Hours Gainers:
Companies trading higher in after hours in reaction to news: TRVN +16.7% (announces FDA acceptance for review of New Drug Application for Olinvo injection), MTP +10.9% (after 75% jump in stock price today), TTPH +6.6% (submitted New Drug Application for intravenous eravacycline for the treatment of complicated intra-abdominal infections and promotes Larry Tsai, M.D. to Chief Medical Officer), SSKN +5.6% (ticking higher after Sabby Management discloses increased active stake and letter expressing dissatisfaction with recent actions), EEFT +3.9% (following MGI / BABA's Ant news), JCP +1.4% (following 10% move higher on the day), GLPG +1.1% (Galapagos NV updates progress with cystic fibrosis programs; started three new clinical studies, concluded the FLAMINGO study in CF patients, and expects to report patient data with a first proprietary investigational triple combination therapy in mid-2018; start of Phase 1 study triggers $10 mln milestone payment from AbbVie), KTOS +0.7% (awarded $14 mln Air Force contract - expected completion date Sept. 30, 2018), PAH +0.7% (slightly higher after Elliott Associates discloses increased passive stake), STAY +0.5% (light volume - extended the maturity of the combined Paired Share repurchase program through December 31, 2018, each effective January 1, 2018)
A few semiconductor/chip names are higher in after hours trade (etf SMH +0.1%): NVDA +1.5%, INTC +0.8%, AMD +0.6%, MU +0.2%
A few semiconductor/chip names are higher in after hours trade (etf SMH +0.1%): NVDA +1.5%, INTC +0.8%, AMD +0.6%, MU +0.2%
After Hours Losers:
Companies trading lower in after hours in reaction to news: MGI -6.3% (Moneygram and Alibaba's [BABA] Ant Financial Services Group mutually agreed to terminate merger), ATRA -4.4% (commences underwritten offering of $100 mln of common stock), HHC -3.3% (Howard Hughes announces that Pershing intends to offer for sale in underwritten public secondary offering 2.5 mln shares of common stock), CCIH -2.9% and INSY -2.9% (modestly pulling back), AQB -2.1% (seeing slight pullback after closing up 150% higher), GNW -2% (weakness on CFIUS news), SRE -1.3% (announced proposed public offerings of common stock and mandatory convertible; details recent U.S. tax legislation that may materially adversely affect financial condition), INXN -0.4% (indicated lower on block trade pricing)