After Hours Summary: CORI +40% on merger news, IMDZ -50% following portfolio reviewAfter Hours Gainers:
Companies trading higher in after hours in reaction to news: CORI +49.9% (enters into definitive agreement with Gurnet Point Capital, which will acquire all outstanding shares for $12.50/share in cash), TTPH +13% (announces US commercial launch of XERAVA for treatment of complicated intra-abdominal infections), LCI +7.4% (continued volatility after seeing late spike higher into the close), ABEO +6.9% (initiated with Buy at Mizuho), CTXS +6.2% (still checking), SSRM +5.9% (ticking higher; reports Q3 production), FOMX +5.4% (initiated with Overweight at Cantor Fitzgerald), PGNX +4.5% (to advance 1095, its PSMA-targeted therapeutic, into a Phase 2 clinical study following discussions with the FDA), SQ +4.3% (modestly rebounding), MRVL +3.3% (announced it will host Investor Day on October 16), INFN +3.2% (indicated higher after Oaktree Optical discloses 12.1% active stake), IOVA +3.1% (provides FDA update - acknowledged acceptability of single-arm cohort for registration and recommended amending existing ongoing Ph 2 study C-144-01 to add registration-enabling cohort; proposes public offering of common stock pursuant to shelf registration statement), ATHN +1% (may re-consider bids from previous suitors, according to NYPost), TWO +0.5% (initiated with Outperform at Raymond James)
After Hours Losers:
Companies trading lower in after hours in reaction to news: IMDZ -51.3% (completed portfolio review -- to prioritize G100/CMB305, discontinue SYNOVATE; cash runway extended into 2021), ANGI -2.1% (light volume; to acquire New York-based Handy Technologies), ACRX -1.8% (pulling back following today's 10% move higher)