Gapping down
In reaction to disappointing earnings/guidance:
- IHG -2% (provides RevPAR expectations and reopening updates), MLHR -1.9%
Other news:
- OCX -47.4% (DetermaDx study endpoints were not achieved)
- ZYNE -41% (announces top line results from pivotal CONNECT-FX trial of Zygel in Fragile X Syndrome; did not achieve statistical significance in primary or key secondary endpoints)
- VRCA -19.9% (provides regulatory update pertaining to VP-102)
- LQDA -17.6% (to acquire RareGen through all-stock merger, aprices offering of 9,375,000 shares of its common stock at $8.00 per share)
- ERII -15.3% (will exit its licensing deal with Schlumberger)
- INO -7.7% (clinical data of INO-4800, its vaccine candidate against novel coronavirus from the first two Phase 1 clinical trial cohorts)
- IIPR -5.9% (upsize and pricing of an underwritten public offering of 2,683,363 shares of its common stock at $83.85 per share)
- OSMT -4.4% (submits amended NDA for arbaclofen extended release tablets to FDA)
- CRSP -4% (commences $325 mln common stock offering)
- RDS.A -2.3% (provides Q2 update)
- MAG -1.9% (entered into $50 mln sales agreement)
- XLRN -1.7% (announces $400 mln offering)
- PTON -1.2% (falls a bit as LULU will acquire home fitness co Mirror)
- BA -0.8% (Norwegian Air cancels orders for 97 of Boeing's planes)
Analyst comments:
- HFC -2.3% (downgraded to Underperform from Market Perform at Cowen)
- OKTA -2.3% (downgraded to Neutral from Buy at BTIG Research)
- CHGG -0.7% (downgraded to Neutral from Buy at Citigroup)