Shares of Alcobra Ltd. (ADHD) tumbled 13.35% in pre-market trading Wednesday morning. The nosedive being attributed to results from the company’s Phase 2 clinical trial of MDX for Fragile X syndrome, a type of genetic disorder that could cause autism.
The Israel-based Alcobra said the study did not meet primary endpoint.
Shares of Netflix, Inc. (NFLX) were up slightly this morning on news that its Board of Directors has approved a 7-for-1 stock split to be effected in the form of a stock dividend of six additional shares of common stock for each outstanding share of common stock. The video streaming service said the stock dividend will be payable on July 14, 2015 to stockholders of record at the close of business on July 2, 2015.
Shares of bluebird bio, Inc. (BLUE) were down marginally in pre-market hours following the company’s price offering of 2.94 million shares of common stock at $170.00 per share. bluebird bio said it has granted the underwriters a 30-day option to purchase up to 441,176 additional shares.
The company intends to use the net proceeds from this offering to advance our immuno-oncology product development programs.
Shares of Juno Therapeutics Inc. (JUNO) are higher by 1.17% to $52.00 in pre-market trading on Wednesday as Bloomberg’s real M&A column mentions JUNO as a possible takeover target in the biotech space. The publication said other tickers that may prove enticing to large drugmakers include Kite Pharma, Inc. (KITE), bluebird bio (BLUE) and Cellectis S.A. (CLLS).
Shares of Transition Therapeutics Inc. (TTHI) plunged 67% percent to $3.06 in pre-market following reports that its Phase 2/3 clinical study of of neuropsychiatric drug candidate ELND005 did not meet its primary endpoint.
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