Morning Buzz: Omeros (OMER), SunEdison (SUNE), National Penn Bancshares (NPBC), Tesla (TSLA), Evoke Pharma (EVOK)

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Omeros Corporation (OMER) is a big mover this session, as its shares are up nearly 65%. The surge came after the company announced additional positive data in its Phase 2 clinical trial of OMS721 for the treatment of thrombotic microangiopathies.

In the past 52 weeks, shares of Seattle, Washington-based biopharmaceutical firm have traded between a low of $11.18 and a high of $27.64.

Shares are up 11.84% year-over-year ; down 41.28% year-to-date.

Shares of SunEdison, Inc. (SUNE) are higher by 3.54% to $15.18 in early trading on Tuesday morning, after the renewable energy development company announced the pricing of its 650K share offering of Series A Perpetual Convertible Preferred Stock at 6.75%.

SunEdison said the initial conversion rate will be 56.7666 shares of common stock for each share of Perpetual Convertible Preferred Stock (subject to adjustment in certain circumstances), which is equal to an initial conversion price of $17.62 per share of common stock.

The offering is expected to close on August 21, 2015.

Shares of National Penn Bancshares Inc. (NPBC) are higher by nearly 17% to $12.73 in morning trading on Tuesday after the bank agreed to be bought by BB&T Corporation (BBT) for $1.8 billion in stock and cash.

National Penn operates branches in Pennsylvania, New Jersey, and Maryland. BB&T said the purchase of the Allentown, Pa.-based lender, which values it at about $13 a share, “will significantly expand BB&T’s footprint in the Mid-Atlantic region” and make it the fourth-largest bank, as measured by deposits, in Pennsylvania.

Tesla Motors, Inc. (TSLA) is displaying relative strength in early trading as price clears multi-day range highs above the $258 area.

After a positive mention yesterday in Jim Cramer’s Mad Money, and a price target hike from Morgan Stanley (MS), TSLA is rebounding considerably from a three-month low Aug. 11 closing price.

Evoke Pharma, Inc. (EVOK) shares surged 19.65% to $5.54 in early trading after the company today announced the receipt of a letter from the FDA indicating the agency’s concurrence with the company’s proposed pediatric study plan for EVK-001.

Pursuant to the terms of the letter, the FDA has accepted Evoke’s EVK-001 pediatric study plan, which included a request for a full waiver of the requirement to conduct pediatric studies on the basis that diabetic gastroparesis is an adult disease. Evoke Pharma said it expects that the pediatric study plan will be included in the company’s anticipated New Drug Application filing with the FDA.

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