Stockwinners Market Radar for August 26, 2022 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

17:52 EDT Sovos Brands CAO O'Driscoll sells 43,000 common shares - In a regulatory filing, Sovos Brands chief administrative officer Lisa O'Driscoll disclosed the sale of 43,000 common shares of the company on August 24 at a price of $14.6757 per share.

17:12 EDT Raytheon Technologies awarded $182.3M Army contract - Raytheon was awarded a $182.3M firm-fixed-price contract for the procurement of National Advanced Surface-to-Air Missile Systems. Bids were solicited via the internet with one received. Work will be performed in Tewksbury, Massachusetts, with an estimated completion date of August 23, 2024. FY22 Ukraine Security Assistance Initiative funds in the amount of $182.3M were obligated at the time of the award. U.S. Army Contracting Command, Redstone Arsenal is the contracting activity.

16:57 EDT Robert Half exec Glass sells 10,000 common shares - In a regulatory filing, Robert Half executive VP Robert Glass disclosed the sale of 10,000 common shares of the company on August 25 at a price of $80.3514 per share.

16:32 EDT Arlo Technologies CFO Gordon Mattingly to resign, Kurt Binder to succeed - Arlo Technologies (ARLO) announced that Gordon Mattingly, CFO of Arlo, will resign from his role, effective September 21 and Kurt Binder, CalAmp's (CAMP) current executive VP and CFO, will take over as Arlo's CFO following Mr. Mattingly's departure, effective September 26. Binder has spent the majority of his career in financial leadership positions, including most recently as executive vice president and chief financial officer of CalAmp.

15:04 EDT 3M falls after judge denies plan to block 230,000 solider lawsuits - 3M lost its attempt to block jury trials in more than 230,000 lawsuits accusing it of harming U.S. soldiers, Steven Church of Bloomberg reports. Bankruptcy Judge Jeffrey Graham refused to temporarily halt the lawsuits accusing 3M and its bankrupt subsidiary, Aearo Technologies, of selling faulty combat earplugs that damaged the hearing of veterans who used them, reports Steven. Shares of 3M are down 7% to $132.42 following the report.

13:33 EDT Encompass Health to build inpatient rehabilitation hospital in Pennsylvania - Encompass Health announced it plans to build a freestanding, 50-bed inpatient rehabilitation hospital in Norristown, Pennsylvania. The hospital will be located at 2660 Audubon Road in Lower Providence Township. Complementing local acute care services, the future hospital will serve patients recovering from debilitating illnesses and injuries, including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions. In addition to 24-hour nursing care, this hospital will offer physical, occupational and speech therapies to restore functional ability and quality of life. Care will be provided by highly specialized nurses, therapists and physicians. The hospital will feature all private patient rooms, a spacious therapy gym with advanced rehabilitation technologies and an activities of daily living suite, cafeteria, dining room, pharmacy and therapy courtyard.

13:02 EDT Baker Hughes reports U.S. rig count up 3 to 765 rigs - Baker Hughes reports that the U.S. rig count is up 3 from last week to 765 with oil rigs up 4 to 605, gas rigs down 1 to 158 and miscellaneous rigs unchanged at 2. The U.S. Rig Count is up 257 rigs from last year's count of 508 with oil rigs up 195, gas rigs up 61 and miscellaneous up 1. The U.S. Offshore Rig Count is unchanged 18, up 3 year-over-year. The Canada Rig Count is unchanged from last week at 201, with oil rigs down 1 to 136, gas rigs up 1 to 65. Canada Rig Count is up 54 rigs from last year's count of 147, with oil rigs up 51, gas rigs up 3.

12:04 EDT Rio Tinto invests $29M to build aluminum recycling center at Arvida Plant - Rio Tinto is investing $29M to build a new aluminium recycling facility at its Arvida Plant in Saguenay-Lac-Saint-Jean, Quebec, to expand its offering of low-carbon aluminium solutions for customers in the automotive, packaging and construction markets. The facility will make Rio Tinto the first primary aluminium producer in North America to incorporate recycled post-consumer aluminium into aluminium alloys. Clean aluminium scrap sourced locally from used vehicles and construction materials will be remelted to produce recycled content that will be used in aluminium billets at the Arvida smelter as well as other products from Rio Tinto's Quebec facilities.The recycling center is expected to be operational in the second quarter of 2024 and will have an initial capacity of 30,000 tons per year. Construction will begin in coming months, with a remelting furnace equipped with regenerative burners and an automated scrap loading system to be installed in an existing building at the Arvida plant. The project is expected to generate C$30M of economic benefits in Quebec and will create around 10 new permanent jobs at the Arvida Plant.

12:00 EDT Danimer Scientific falls -10.9% - Danimer Scientific is down -10.9%, or -55c to $4.46.

12:00 EDT China Green rises 18.9% - China Green is up 18.9%, or 90c to $5.66.

12:00 EDT Micro Focus rises 93.6% - Micro Focus is up 93.6%, or $2.93 to $6.06.

10:04 EDT Incyte announces FDA approval of Pemazyre as treatment for MLNs - Incyte announced that the U.S. Food and Drug Administration has approved Pemazyre, a selective fibroblast growth factor receptor inhibitor, for the treatment of adults with relapsed or refractory myeloid/lymphoid neoplasms with FGFR1 rearrangement. MLNs with FGFR1 rearrangement are extremely rare and aggressive blood cancers that may impact less than 1 in 100,000 people in the United States. A patient with an MLN with FGFR1 rearrangement may present with bone marrow involvement with a chronic myeloid malignancy or a blast phase malignancy. Bone marrow involvement may or may not be accompanied by extramedullary disease; some patients may present with EMD only. MLNs with FGFR1 rearrangement are caused by chromosomal translocations involving the FGFR1 gene, with various partner genes resulting in constitutive activation of the FGFR1 receptor tyrosine kinase, impacting cell differentiation, proliferation and survival. Patients often relapse because existing first-line therapies sometimes fail to induce durable clinical and cytogenetic responses. The FDA approval was based on data from the Phase 2 FIGHT-203 study, a multicenter open-label, single-arm trial that evaluated the safety and efficacy of Pemazyre in 28 patients with relapsed or refractory MLNs with FGFR1 rearrangement. Patients could have relapsed after allogeneic hematopoietic stem cell transplantation or after a disease modifying therapy or were not a candidate for allo-HSCT or other disease modifying therapies. Study participants included patients with documented MLNs with an 8p11 translocation on conventional cytogenetics and/or an FGFR1 rearrangement on break-apart FISH testing. In patients with chronic phase in the marrow with or without EMD, the complete response rate was 78%. The median time to response of CR was 104 days. The median duration of CR was not reached. In patients with blast phase in the marrow with or without EMD, two patients achieved a CR. In patients with EMD only, one patient achieved a CR. For all patients the complete cytogenetic response rate was 79%. The most common adverse reactions were hyperphosphatemia, nail toxicity, alopecia, stomatitis, diarrhea, dry eye, fatigue, rash, abdominal pain, anemia, constipation, dry mouth, epistaxis, retinal pigment epithelial detachment, extremity pain, decreased appetite, dry skin, dyspepsia, back pain, nausea, blurred vision, peripheral edema and dizziness.

10:00 EDT Dell Technologies falls -8.7% - Dell Technologies is down -8.7%, or -$4.16 to $43.74.

10:00 EDT PagSeguro Digital rises 14.5% - PagSeguro Digital is up 14.5%, or $2.17 to $17.23.

10:00 EDT Micro Focus rises 95.1% - Micro Focus is up 95.1%, or $2.98 to $6.11.

09:47 EDT Danimer Scientific falls -6.0% - Danimer Scientific is down -6.0%, or -30c to $4.71.

09:47 EDT Dell Technologies falls -6.7% - Dell Technologies is down -6.7%, or -$3.21 to $44.69.

09:47 EDT Farfetch rises 24.0% - Farfetch is up 24.0%, or $2.29 to $11.83.

09:43 EDT Value Line trading resumes

09:33 EDT Value Line trading halted, volatility trading pause

09:30 EDT Novavax' Nuvaxovid gets expanded marketing authorization in U.K. for ages 12-17 - Novavax announced that the Medicines and Healthcare products Regulatory Agency in the United Kingdom has granted expanded conditional marketing authorization for Nuvaxovid COVID-19 vaccine for active immunization to prevent COVID-19 caused by the severe acute respiratory syndrome coronavirus 2 in adolescents aged 12 through 17. The next step for the vaccine is a policy recommendation for use from the UK Joint Committee on Vaccination and Immunisation. Doses of Nuvaxovid will be made available for use in adolescents based on the JCVI's recommendation.

09:18 EDT Firsthand Technology Value Fund says Hera Systems selected for Tetra-5 program - Firsthand Technology Value Fund announced that Hera Systems, a holding since 2015, has been selected to provide spacecraft and related capabilities to the Tetra-5 program for the U.S. Space Force. The Tetra-5 program will develop and deploy a constellation of up to three prototype spacecraft to demonstrate key inspection and docking capabilities for on-orbit refueling and the use of next-generation autonomous collaboration techniques. The U.S. Space Force has awarded the contract to lead the Tetra-5 program to Orion Space Solutions with support from Hera Systems. The contract award, if all options are exercised, is valued at up to $44.5M. Under its agreement with Orion Space Solutions, Hera Systems will provide the advanced spacecraft, mission unique software, and associated digital twin support for the Tetra-5 constellation, which will operate in Geostationary Earth Orbit.

09:10 EDT Temasek Holdings reports 13.5% passive stake in Akili Interactive - Temasek Holdings disclosed a 13.5% stake in Akili Interactive, which represents over 11.5M shares. The filing does not allow for activism. Shares of Akili Interactive are up 5.8% in pre-market trading.

09:06 EDT Magic Empire Global up 10% in pre-market amid increase in StockTwits volume - Shares of Magic Empire Global are up 10% at $8.32 per share in pre-market trading following yesterday's losses of 29%. The stock is in the top-10 of highest trending names on StockTwits in terms of message volume over the past 24 hours.

09:03 EDT Spire proceeds with expansion of facilities in Wyoming - Spire Storage is proceeding with the expansion of its facilities in Wyoming, with partial availability of additional natural gas storage capacity in FY24 and more in 2025, to meet the growing energy demands in the Rockies and Western U.S. Consistent with the Federal Energy Regulatory Commission project approval and FERC's issuance of a Notice to Proceed, Spire Storage started limited construction of the initial project phase in mid-August. Full project completion is expected to take place over the next two years during construction seasons that run April through October in Wyoming. The expansion project will increase Spire Storage underground working gas storage capacity from 23 Bcf to 39 Bcf. Capital expenditures for the project are expected to total $195M. The project is anticipated to deliver expanded services to existing and new customers, as well as a strong return on investment. We anticipate earnings per share accretion beginning in FY25.

08:40 EDT Forza X1 initiates construction of FX1 fully electric boat - Forza X1 (FRZA) announced the FX1 fiberglass molds have arrived at Twin Vee PowerCats (VEEE) in Fort Pierce, Florida and the first FX1 boat will begin the construction process next week.

08:36 EDT Luckin Coffee announces full redempton of offshore debt securities - Luckin Coffee announced the redemption in full of its $109.9M of 9.00% Series B Senior Secured Notes due 2027. The New Notes represent the Company's only offshore debt securities and the redemption marks an important step to further optimize the Company's capital structure. The aggregate redemption price of the New Notes is $110.6M, which constitutes the aggregate principal amount outstanding plus the aggregate accrued interest. The aggregate redemption price is paid from the Company's available offshore cash balance and the Company's liquidity position remains strong. With the full redemption of the New Notes, the role of the scheme supervisors under the previously announced Restructuring Support Agreement was terminated. Alexander Lawson of Alvarez & Marsal Cayman Islands Limited and Wing Sze Tiffany Wong of Alvarez & Marsal Asia Limited had served as the scheme supervisors and, prior to that, the joint provisional liquidators since July 15, 2020.

08:35 EDT TowneBank appoints William Foster to succeed J. Morgan Davis as CEO - TowneBank announced that its Board of Directors selected William Foster, III to succeed J. Morgan Davis when he steps down as CEO on December 31, 2022. Davis, who plans to retire on March 31, 2023 after assisting with the transition process, will continue to serve on the Board of Directors of the Company and as an executive consultant focused on mergers and acquisitions, member relations and other special projects. This announcement follows a months-long process led by a special committee formed by the Board to direct the search for Mr. Davis' successor and to conduct a comprehensive review and assessment of the Company's long-term management succession plan for its senior leadership management structure. Foster joined the Towne family in 2004 as Regional President to lead the Bank's expansion into the Norfolk community. Since that time he has served in several executive roles, including his current role as President of the Bank's markets in Central Virginia and North Carolina.

08:32 EDT Blue Hat Interactive signs MoU to acquire 100% equity of Shengruihao Technology - Blue Hat Interactive Entertainment Technology announced that Xiamen Duwei Consulting Management, a wholly owned subsidiary of the Company, signed a memorandum of understanding, MoU, with its shareholder of Xiamen Shengruihao Technology to acquire 100% of the equity interests of Shengruihao, a company specialized in product supply chain services and integrated enterprise services. Chen Xiaodong, CEO of Blue Hat, said: "I am glad to announce that the Company has started the process to acquire 100% of the equity of Shengruihao through cash transaction. Right now the transaction is undergoing the due diligence review. It is expected to close very soon. the annual turnover of Shengruihao is USD 45 million. After the successful acquisition of Shengruihao, we estimate that it will create a revenue of USD 45-70 million each year for the Company in the future. I believe that Shengruihao's outstanding achievements in commodity supply chain services can become a catalyst for the Company's future growth. With the acquisition of Shengruihao, the Company will have stronger profitability and sustainable power to actively explore the market, establish the corporate image and improve the service quality. We will continue looking for acquisition opportunities to keep carrying out our expansion strategy and enhance our competitiveness in the market."

08:28 EDT AllSurplus selected to conduct online heavy equipment auction - Liquidity Services announced a new partnership with a major New York-based engineering and construction services company to auction its surplus heavy equipment. Twenty-seven assets valued at more than $800,000 are currently being offered for sale on AllSurplus.com.

08:21 EDT Esperion: NEXLETOL recommended as oral non-statin therapy by ACC task force - Esperion announced that bempedoic acid is now recommended as an important oral non-statin therapy for LDL-cholesterol lowering in the management of atherosclerotic cardiovascular disease by the American College of Cardiology ask force on expert consensus decision pathways. The recommendation, an update to the 2017 ECDP, was released on August 25, 2022 and published online in the Journal of the American College of Cardiology. The 2022 ACC Expert Consensus statement seeks to address current gaps in care for LDL-C lowering to reduce ASCVD risk and provides recommendations for clinicians and patients regarding the use of non-statin therapies in high-risk patients who have a minimal response to statins or are statin intolerant. The recommendation of bempedoic acid, the first oral, once-daily, non-statin LDL-C lowering medicine approved since 2002, is based on robust Phase III clinical trial evidence including evidence from the CLEAR Tranquility and CLEAR Serenity trials, which demonstrated that monotherapy with bempedoic acid 180 mg daily in patients with statin-associated muscle symptoms on no statin therapy reduced LDL-C levels by approximately 24.5% compared with placebo. In addition to the ACC ECDP, the American Association of Clinical Endocrinologists and the American College of Endocrinology recommend bempedoic acid for treating LDL-C to goal in their Dyslipidemia and Prevention of Cardiovascular Disease Algorithm. The potential ability of bempedoic acid to reduce cardiovascular risk in patients with statin-intolerance is currently being evaluated in a global cardiovascular outcomes trial, known as CLEAR Outcomes. The Company anticipates top-line results from the trial in the first quarter of 2023.

08:08 EDT Electronic Arts off highs after CNBC's Faber says Amazon not planning bid - Shares of Electronic Arts (EA) remain up $3.88, or about 3%, to $131.49 in pre-market trading, though that is well off the highs of about a 14% advance seen earlier in the session. A Swedish video gaming blog, GLHF, reported that its sources indicated that Amazon (AMZN) will announce today that it has put in a formal offer to acquire the maker of "Madden" and other popular video game franchises, but CNBC's David Faber indicated in an on-air report that his own sources said Amazon is not expected to make a bid to buy Electronic Arts.

08:07 EDT Savara chief medical officer Badrul Chowdhury resigns - Savara announced that Badrul Chowdhury has resigned from his role as chief medical officer, effective September 9.

08:05 EDT PaxMedica announces pricing of initial public offering - PaxMedica announced the pricing of its initial public offering of 1,545,454 shares of its common stock at a public price of $5.25 per share. The gross proceeds to PaxMedica from the offering, before deducting underwriting discounts, commissions and offering expenses, are expected to be approximately $8.1M. All of the shares are being offered by PaxMedica. In addition, PaxMedica has granted the underwriters a 45-day option to purchase an additional 231,818 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Capital Market on August 26, 2022, under the ticker symbol "PXMD". The offering is expected to close on or about August 30, 2022, subject to customary closing conditions.

08:03 EDT Covetrus appoints Margie Pritchard as general counsel - Covetrus announced the appointment of Margie Pritchard as general counsel and corporate secretary, reporting to Ben Wolin, president and CEO at Covetrus. Prior to being named as general counsel, Pritchard most recently served as VP, deputy counsel at Covetrus, where she was responsible for corporate and board governance, public reporting, advising investor relations, employment matters including compensation, and providing general legal counsel to executive management.

08:03 EDT Inhibikase Therapeutics' NDA for chronic myelogenous leukemia cleared by FDA - Inhibikase Therapeutics announced that the FDA has reviewed its Investigational New Drug - IND - application for IkT-001Pro for the treatment of Chronic Myelogenous Leukemia - CML - and issued a Study May Procced letter. IkT-001Pro is a prodrug formulation of imatinib mesylate and has been developed to improve the safety of the first FDA-approved Abelson kinase inhibitor, imatinib. Imatinib is commonly taken for hematological and gastrointestinal cancers that arise from Abl kinase mutations found in the bone marrow or for gastrointestinal cancers that occur from c-Kit and/or PDGFRa/b mutations in the stomach; c-Kit, PDGFRa/b and Abl are all members of the Abelson Tyrosine Kinase protein family. Imatinib delivered as IkT-001Pro was granted Orphan Drug Designation for stable-phase CML in September, 2018. The study is designed to evaluate the safety profile of IkT-001Pro as well as identify a dose with a similar systemic exposure and pharmacokinetic profile compared to 400 mg imatinib mesylate at 96 hours post administration.

08:01 EDT Sema4 Holdings appoints Feeley as CFO - Sema4 announced that the Company has appointed Kevin Feeley as Chief Financial Officer, CFO, completing its previously announced search for the CFO position. Feeley, who has held the roles of Senior Vice President of Operations and Head of GeneDx at Sema4 since May 2022, will also continue to lead all key operational aspects of the Company. Prior to joining Sema4, Feeley held the position of CFO of BioReference Laboratories and GeneDx for five years.

07:49 EDT P10 to acquire Westech Investment Advisors in stock, cash transaction - P10 entered into a Purchase and Sale Agreement to acquire through its subsidiary, P10 Intermediate Holdings, all of the outstanding membership interests of Westech Investment Advisors. WTI has deployed $7.8B in loan commitments across more than 1,400 venture-backed companies since its founding in 1980. At closing of the Transaction, P10 will acquire 100% of the outstanding membership interests in WTI, the management company that receives management fees from all active WTI funds, in exchange for $97M in cash and 3,916,666 membership units of P10 Intermediate Holdings, LLC which can be exchanged into 3,916,666 shares of P10 common stock, following applicable restrictive periods. Further, the purchase agreement includes additional earnout milestones as EBITDA grows, with a total of $70M available in earnout payments, in the form of cash or shares of P10 common stock, if EBITDA builds to $25M. Earnout hurdles are at $20M, $22.5M, and $25M of EBITDA. P10 intends to use available cash and borrowings under its Credit Agreement to fund the cash portion of the purchase price. The Company entered into an Increase Joinder and First Amendment to its Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and its Lenders to increase the Revolving Commitments by approximately $37.5M and commitments in respect of Initial Term Loans by approximately $87.5M. Consistent with the P10 approach to long-term alignment, WTI employees will retain 100% of the carried interest generated by WTI funds. Furthermore, the existing WTI management team will continue to run day-to-day operations and oversee all investment decisions with no expected change in investment strategy. Upon the closing of the Transaction, P10 will grant an aggregate of four million stock options to acquire shares of common stock of P10 to WTI employees. In line with current P10 option grants, the stock options will have a five-year cliff vest to encourage long-term retention and firm performance. The closing of the Transaction is expected to occur in the fourth quarter of 2022, subject to customary closing conditions. P10 expects WTI to contribute more than $12.5M in Adjusted EBITDA in its first full year following the closing. The company said, "Moreover, assuming current and historic deployment pace, we expect the next WTI flagship fund to be raised and activated in 2024, with strong expected incremental margins on additional management fee revenues. Consistent with the P10 focus on compounding cash flows and the inherent value of tax assets, we expect the majority of the purchase price and potential earnout to add amortizable goodwill to existing P10 tax assets, bringing gross tax asset value to more than $650M. Additional earnout payments should further augment our tax asset. As a result of the above considerations, we expect the WTI Acquisition to be accretive to Adjusted Net Income Per Share in 2023 and beyond, while providing an additional piston to assist in long-term organic growth. Moreover, the transaction lengthens P10's average fee duration and increases average fee rate. With the addition of WTI, which runs at a higher fee rate and slightly lower EBITDA margin than P10's overall business, we project that pro forma with the acquisition, the P10 average fee rate should increase from 100bps to 105bps. Additionally, we expect WTI to add $1.4B to P10 fee paying assets under management in 2023. Please note that no underlying assumptions for the core P10 business were changed in reaching this new operating model; this change merely reflects the addition of WTI to the P10 platform. A WTI firm overview presentation can be found on the P10 investor relations website HERE."

07:31 EDT Vivos announce receipt of notice from Nasdaq regarding late filing of Form 10-Q - Vivos Therapeutics announced that it has received a notice from the Listing Qualifications Department of The Nasdaq Stock Market notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. "Such a notice is typical and normal procedure, and it has no immediate effect on the listing or trading of the Company's common stock on the NASDAQ," the company said. As reported by the Company in its Form 12b-25 filed with the Securities and Exchange Commission on August 15, 2022 and press release the same day, the Company was unable to file its Form 10-Q within the prescribed time period without unreasonable effort or expense due to the Company's need for additional time to review its financial statements for the quarter ended June 30, 2022 and the resulting additional time required for completing and filing the Company's Form 10-Q accordingly. The extension period provided for filing the Form 10-Q under Rule 12b-25 expired on August 22, 2022. Nasdaq has informed the Company that, under Nasdaq rules, the Company will have 60 calendar days from the date of the Notice to file its Form 10-Q with the SEC. The Company can regain compliance with Nasdaq listing standards during this sixty-day period when the Company files its Form 10-Q with the SEC. The Company is working diligently to complete its Form 10-Q. The Company intends to file the Form 10-Q as soon as practicable to regain compliance with the Nasdaq Listing Rules. No assurance can be given that the Company will be able to regain compliance with the Nasdaq timely filing listing requirement.

07:03 EDT BioCryst announces presentation of data on BCX9930 - BioCryst Pharmaceuticals, announced that its oral Factor D inhibitor, BCX9930, demonstrated greater than 99 percent suppression of the alternative pathway, AP, and that greater than 98 percent suppression was maintained for 24 hours post-dosing, in patients with C3 glomerulopathy, a rare renal disease that is characterized by dysregulation of the AP of the complement system. The data, which are the first data with BCX9930 in patients with C3G, are being presented in a poster session at the 18th European Meeting on Complement in Human Disease. BioCryst EMCHD 2022 Presentation Highlights: The study assessed the effects of oral BCX9930 on AP activity in ex vivo activated serum from healthy volunteers and C3G patients who participated in a phase 1, open-label study to evaluate the pharmacokinetics and pharmacodynamics of a single dose of BCX9930.One assay was used to assess the ability of BCX9930 to inhibit formation of AP C3 convertase in vitro, two assays were used to assess the ability of BCX9930 to inhibit AP complement activity ex vivo, and another assay was used to assess the ability of BCX9930 to inhibit formation of AP C3 convertase ex vivo. The analyses found that a single oral dose of BCX9930: Demonstrated greater than 99 percent suppression of the AP, and that greater than 98 percent suppression was maintained for 24 hours post-dosing, in C3G patient; Achieved rapid and maximal suppression of the generation of C3a, a product of C3 convertase activity, in both healthy volunteers and C3G patients.These data support further development of Factor D inhibitors for the treatment of complement-mediated diseases, including C3G and other diseases driven by dysregulation of the AP. In the study, a single dose of BCX9930 600 mg was generally safe and well-tolerated. Based on prior work with BCX9930, the proposed clinical dose of 400 mg provides a similar level of AP suppression as the 600 mg single dose used in this study in C3G patients.

07:00 EDT Molina Healthcare rallies after California 'crown jewel' contract win - Shares of Molina Healthcare (MOH) after rallying after California's Department of Health Care Services announced its intent to award contracts to commercial managed care plans. Molina Health Care won the contracts for Los Angeles, Riverside, San Bernardino, Sacramento, San Diego. Wells Fargo this morning, while raising its price target for Molina, called Los Angeles County the "crown jewel" of the contract awards. Shares of Molina Healthcare are up 7% to $351.20 in premarket trading. Centene (CNC) shares are down 4% to $92.00 after Wells Fargo called the California awards a "near worst case" for the company.

05:41 EDT Jack Dorsey says 'biggest regret' is Twitter became a company - Twitter founder and former CEO Jack Dorsey tweeted Thursday that he regrets the social media platform became a company. "The biggest issue and my biggest regret is that it became a company," Dorsey tweeted in response to a question about whether Twitter turned out the way he had envisioned. When asked about what structure he wished Twitter would operate under, Dorsey said that it should be "a protocol" and that Twitter should not be owned by a state or another company. Reference Link

05:15 EDT Centene issues statement regarding Medi-Cal Managed Care contracts - Centene issued the following statement after the announcement of the award of the Medi-Cal Managed Care contracts: "As one of the state's longest serving and most experienced Medi-Cal partners, we are pleased to have been awarded contracts by the California Department of Health Care Services to continue serving members in nine counties across California. However, we are disappointed to learn the state has chosen not to award us contracts in Los Angeles, Sacramento and Kern counties. Through our local health plan, Health Net of California, we have been providing quality, comprehensive and equitable healthcare to members throughout California for 25 years. We have a deep history in serving these communities and members who have come to rely on our services and care. We strongly believe our exit in these counties will be a significant disruption in services to our members and providers. We are evaluating all options to appeal the decision and protect our members and their access to quality healthcare."

05:10 EDT AvePoint establishes $100M R&D hub in Singapore - AvePoint announced its newly established $100M SGD international R&D Hub in Singapore, which will act as a major hub within the company's worldwide R&D network and foster local talent to support the growing global demand for B2B SaaS solutions. Through its new investment supported by Digital Industry Singapore, or DISG, AvePoint will also advance its IT and digital infrastructure as well as global trade connectivity to continue its international expansion. The R&D Hub investment will see AvePoint hire and train over 500 digital professionals by 2026, nearly tripling its existing team of product and technology professionals in roles such as business analysts, data scientists, software architects and Microsoft-certified engineers in Singapore.