TheChek News Flow

Gapping down
In reaction to earnings/guidance:

• DORM -4.4%, PHG -3.3%, PKX -2.5%

Other news:

• TCDA -93.4% (announces VALOR-CKD trial did not meet primary endpoint)
• YUMC -10.4% (announces primary listing on the Hong Kong Stock Exchange and inclusion in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect)
• AXDX -8.8% (discloses that the FDA clarified that company must obtain 510(k) clearance to continue marketing and distribute Accelerate Arc Products in U.S.)
• PINE -2.9% (entered into separate equity distribution agreements having an aggregate gross sales price of up to $150,000,000)
• HA -2.9% (discloses select financial statements should no longer be relied upon)
• VRDN -2.8% (Presents Clinical Data from Ongoing VRDN-001 Phase 1/2 Trial)
• TSLA -2.3% (discloses that YTD it recorded $170 million of impairment losses resulting from changes to the carrying value of its bitcoin and gains of $64 million on certain conversions of bitcoin into fiat currency)
• HZNP -1.9% (reports New Real-World Analysis of TEPEZZA)
• NVCR -1.3% (Announces 11 Presentations on Tumor Treating Fields in Multiple Solid Tumor Types at the American Society for Radiation Oncology 2022 Annual Meeting)

Analyst comments:

• AAN -3.4% (downgraded to Underperform from Neutral at BofA Securities)
• ADI -1.6% (downgraded to Equal Weight from Overweight at Barclays)
• META -0.7% (downgraded to Neutral from Buy at BofA Securities)

Gapping up
In reaction to earnings/guidance:

• PSO +8.4%, BOH +5%, KEX +2.4%

Other news:

• PCVX +40.9% (Reports Positive Topline Data from Phase 1/2 Proof-of-Concept Study of its 24-Valent Pneumococcal Conjugate Vaccine Candidate)
• SCHL +11.5% (authorizes repurchase of up to $75 mln in common stock)
• MYOV +8.2% (to be acquired by Sumitovant Biopharma for $27.00 per share in cash)
• MWA +4.3% (increases its quarterly dividend)
• ZNTL +3% (plans to initiate the first study of its collaboration with Pfizer (PFE) on Zentalis' product candidate ZN-c3, a selective Wee1 inhibitor designed to induce synthetic lethality in cancer cells)
• VRAY +2.3% (Announces Primary Endpoint Outcome from First Prospective, Multi-Institutional Study to Deliver Ablative Doses of Radiation to Pancreatic Cancer Patients)
• MDT +1.6% (announces intention to separate its combined patient monitoring and respiratory interventions businesses)
• SRRK +1.5% (reports New Phase 2 TOPAZ Trial Data Indicate Positive Trends in Quality-of-Life Measures Over 24 Months with Apitegromab for Nonambulatory Patients with Types 2 and 3 SMA)
• MCRB +1.4% (Presents SER-109 ECOSPOR IV Study Data)

Analyst comments:

• CAR +3.5% (upgraded to Overweight from Neutral at JP Morgan)
• NOW +3% (upgraded to Buy from Neutral at Guggenheim)

Early premarket gappers

• Gapping up:
  • PSO +8.6%, MYOV +7.6%, MWA +4.3%, NVCR +3.3%, MCRB +2.5%, SRRK +1.5%
• Gapping down:
  • YUMC -9.4%, AXDX -8.8%, PHAT -4.8%, PHG -4%, PINE -2.9%, VRDN -2.8%, HA -1.9%, HZNP -1.7%, PKX -1.6%, ASTI -0.7%