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FOCUS LIST🔎
VANI – Up over 10% in pre after Type 2 Diabetes treatment gains FDA clearance for clinical use
BRTX – Up over 20% in pre after announcing it was in substantive discussions for a potential license agreement for ThermoStem ® Metabolic Disease Program
AVGO – Up over 10% in pre after reporting better than expected earnings
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VANI – Up over 10% in pre after Type 2 Diabetes treatment gains FDA clearance for clinical use
Vivani Medical Inc. (VANI) is a preclinical stage biopharmaceutical company that engages in the development of miniaturized and subdermal implants that treat chronic diseases.
In the pre-market this morning, the company announced that the U.S. FDA has cleared its Investigational New Drug Application for NPM-119, paving the way for the commencement of the LIBERATE-1 Phase 1 trial.
This study will assess the safety, tolerability, and pharmacokinetics of Vivani’s innovative six-month GLP-1 implant, designed to treat type 2 diabetes.
LIBERATE-1 is a 12-week randomized trial designed to evaluate the safety, tolerability, and pharmacokinetics of NPM-119 in patients with type 2 diabetes.
Participants in this study will discontinue their existing GLP-1 therapy to either receive NPM-119 or a comparator drug. VANI anticipates launching LIBERATE-1 in the second half of the year.
The stock traded up over 10% in the pre-market in reaction to the news.
The first target for bulls is the pre-market high at $2.09.
Beyond that, $2.20, $2.50 and $3 come into play.
Below $2.09, targets to the downside are $1.70 and then a gap fill at $1.63.
BRTX – Up over 20% in pre after announcing it was in substantive discussions for a potential license agreement for ThermoStem ® Metabolic Disease Program
BioRestorative Therapies Inc. (BRTX) develops therapeutic products and medical therapies using cell and tissue protocols primarily involving adult stem cells. The company develops programs that relate to the treatment of disc/spine disease and metabolic disorders.
In the pre-market this morning, the company announced that it was in substantive discussions for a potential license agreement for ThermoStem ® Metabolic Disease Program.
ThermoStem® is an off-the-shelf platform, well-protected by a comprehensive portfolio of issued patents that cover both the U.S. and international markets.
The potential license partner is a leading commercial stage regenerative medicine company.
The stock traded up over 20% in the pre-market after the news.
The $1.57 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $1.75 and then the pre-market high at $1.86. Beyond that, $2, $2.20, $2.60 and $3 come into play.
Below $1.57, targets to the downside are $1.50, $1.40 and then a gap fill at $1.35 with $1.20 below that.
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AVGO – Up over 10% in pre after reporting better than expected earnings
Broadcom Inc. (AVGO) designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.
In the after-hours yesterday, the company reported Q2 2024 financial results.
Highlights include:
Revenue of $12,487 million for the second quarter, up 43 percent from the prior year period
GAAP net income of $2,121 million for the second quarter; Non-GAAP net income of $5,394 million for the second quarter
Quarterly common stock dividend of $5.25 per share
Fiscal 2024 annual revenue guidance of approximately $51.0 billion including contribution from VMware, an increase of 42 percent from the prior year period
Ten-for-one forward stock split; trading on a split-adjusted basis is expected to commence on July 15, 2024
AVGO traded up over 10% in the pre-market in reaction to the news.
The first target for bulls is the pre-market and all-time high at $1,724.00.
Beyond that is blue sky and round number targets come into play such as $1,730, $1,740 and $1,750.
Below $1,724, targets to the downside are $1,700, $1,675, $1,663, $1,636, and $1,600.
MARKET NEWS 📰
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