Good day, 360 –

Here are our top 3 trade ideas today – these setups look primed! Be the best prepared trader on the Street!

IFRX – Up 15% in pre-market after closing over 83% yesterday on an FDA EUA approval for its COVID-19 treatment for critically ill patients

CDLX – 2nd day play, closes up over 80% yesterday after increasing guidance

LMNL – Over 90% higher in pre-market after non-binding takeover offer

IFRX – Up 15% in pre-market after closing over 83% yesterday on an FDA EUA approval for its COVID-19 treatment for critically ill patients

InflaRx (IFRX) announced late yesterday afternoon that it had received FDA emergency use authorization (EUA) for its drug Gohibic (Vilobelimab) for treatment of critically ill COVID-19 patients.

Vilobelimab is the first authorized drug to control complement factor C5a, a protein that plays an important and often harmful role in the body’s immune response.

FDA granted EUA based on Phase III clinical trial results showing a significant relative reduction in 28-day all-cause mortality of 23.9% compared to a placebo in critically ill, invasively mechanically ventilated COVID-19 patients.

The $4.15 area has been support in the pre-market and should be an important level going forward.

Above it, targets to the upside are $4.60, $4.80, $5, $5.20, $5.50 and then $6.

Below $4.15, targets to the downside are $4, $3.60, $3.50, $3.10 with $2.50 below that.

CDLX – 2nd day play, closes up over 80% yesterday after increasing guidance

Cardlytics (CDLX) announced updated guidance for 1st quarter 2023 financial results. They announced increased revenue guidance from $54m-$63 to $63.5m-$66.5m for Q1.

The news sent CDLX up over 80% in yesterday’s trade. Before the announcement CDLX was trading near all-time lows. The stock was over $120 back in 2021.

$5.65 was a support level from yesterday and also held in the pre-market this morning.

Above it, targets to the upside are $6, $6.20, $6.50 and yesterday’s high at $6.77. Above that, $7.76, $8.40 and $9 come into play.

Below $5.65, there is potential support at $5.40, $4.93, $4.50 with $4.30 and $3.80 targets to the downside below that.

LMNL – Over 90% higher in pre-market after non-binding takeover offer

It was announced this morning that Thomvest Asset Management had made a non-binding, all cash offer to acquire all outstanding shares of Liminal BioSciences (LMNL) other than the 64% owned by Structured Alpha LP for $7.50 per share.

That’s a 107% premium to yesterday’s closing price and a 44% premium to the volume-weighted average price of the common shares since the effect of its 1 for 10 share consolidation.

The stock is trading over 90% higher in pre-market on the news. The offer is non-binding and leaves the door open for higher potential bids.

$6.70 was resistance turned support in the pre-market and should be an important level today.

Above it, the first target for bulls is the pre-market high of $7.31. The next target would be the takeover price of $7.50. If shorts get too aggressive and the market believes there is potential for an increased bid, further targets to the upside are $8. $8.50, $9, $9.50 and $10.

Below $6.70, there is potential support at $6.40, $6.30 and $5.74 and $5.20 below that.

Economic Calendar (EST)

7:00am MBA Mortgage Applications

8:15am ADP Employment Report

8:30am International Trade in Goods

9:45am PMI Composite Final

10:00am ISM Services Index

10:30am EIA Petroleum Report

No Fed Speakers Scheduled

Earnings for Today (After Market)

RELL, SEAC, SLP

Top Headlines

MSFT Microsoft Abandons Plans for New Office in London – Bloomberg

VAL Valaris Limited Announces Pricing of $700 Million Upsized Private Placement of 8.375% Senior Secured Second Lien Notes Due 2030 and Entry into $375 Million Revolving Credit Facility

CLLS: Cellectis enters into warrant agreement with the European Investment Bank related to credit facility agreement and announces the drawdown of the first tranche of EUR20 million

MLEC Moolec Science Achieves USDA-APHIS Regulatory Status Review Clearance for Molecular Farming Product

AUPH: Aurinia Pharmaceuticals Announces Promising Topline Data from Renal Biopsy Sub-study of the AURORA Trial

IMUX: Immunic Reports Positive Data from Maintenance Phase of Phase 2 CALDOSE-1 Trial of Vidofludimus Calcium in Moderate-to-Severe Ulcerative Colitis

MIRO CDNA: CareDx and Miromatrix Announce Exclusive Partnership to Advance Research Using Bioengineered Organs for Human Transplantation

EGRX: Eagle Pharmaceuticals Reaches Settlement Agreement with Dr. Reddy’s Laboratories Inc. and Dr. Reddy’s Laboratories Ltd. Related to BENDEKA(R) (bendamustine hydrochloride)

PLTR: Palantir and Microsoft Expand Cloud Partnership to Public Sector

DNA: Ginkgo Bioworks Strengthens End-to-End R&D Capabilities in Gene Therapy through Acquisition of StrideBio’s AAV Capsid Discovery and Engineering Platform Assets

RNAZ TransCode Therapeutics Receives Notice of Award from National Institutes of Health (NIH) for Third Year of Grant to Support Clinical Evaluation of TTX-MC138

SCTL: Societal CDMO Selected by Longboard Pharmaceuticals to Provide CDMO Services to Support Clinical Development of LP352

ENTA Enanta Pharmaceuticals to Present Data at the 33rd European Congress of Clinical Microbiology and Infectious Diseases (ECCMID)

BLU BELLUS Health Announces Positive Results from its Phase 1 Bioavailability Equivalence Study Evaluating Once-Daily Extended-Release Formulation of Camlipixant in Comparison to Twice-Daily Immediate Release Formu

TNXP: Tonix Pharmaceuticals Announces Poster Presentations at the American Association for Cancer Research Annual Meeting 2023

META Argus comments on name “While Meta has faced increased competition in the social media space, particularly from TikTok, that competition may be diminishing.”

SAFE Safehold Enters into Joint Venture with Sovereign Wealth Fund

AUPH Announces Promising Topline Data from Renal Biopsy Sub-study of the AURORA Trial

AGO Assured Guaranty’s Asset Management Business to Combine with Sound Point Capital Management

T Goes ex div tomorrow for $0.2775.

SNGX: Soligenix Receives USAN Approval for “Hypericin Sodium” as Nonproprietary Name for Novel Active Ingredient in HyBryte(TM) and SGX302

BBBY: Bed Bath & Beyond Inc. Launches Vendor Consignment Program

TW Tradeweb Reports March 2023 Total Trading Volume of $34.7 Trillion and Record Average Daily Volume of $1.51 Trillion

OPGN: OpGen’s Subsidiary Curetis Signs Expansion of R&D Collaboration with FIND

ZTEK Zentek Files Patent Applications for ZenGUARD(TM) in Multiple New Jurisdictions

SKE Skeena Retains 100% Ownership of the Snip Gold Project

FDX FedEx Increases Dividend by 10%,$1.26/share

FDX FedEx Announces Planned Consolidation of Operating Companies

FDX FEDEX: $4.0B OF PERMANENT COST REDUCTIONS IN FISCAL 2025

LMNL Thomvest Asset Management Ltd. Makes Non-Binding Offer To Acquire Outstanding Shares Of Liminal BioSciences Inc. Other Than 64% Owned By Structured Alpha LP For $7.50/Share

MSOS: Marijuana Moment Tweeted Schumer To Speak At 4/20 Marijuana Policy Forum

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