Biotech Acorda Therapeutics (ACOR) - Get Report was soaring ahead of the market open on Thursday, thanks to positive results from a late-stage clinical trial for its inhaled formulation of levodopa, which is used to improve motor function in patients with Parkinson's disease.
The company's shares were up 10% in premarket trading, hitting $22.45 apiece on the news. Shares closed Wednesday at $20.40.
Meanwhile, BioTime's (BTX) shares fell 3% ahead of the market open on Thursday, hitting $2.92 apiece. The small- to mid-cap biotech focuses on regenerative medicine. The company's shares fell on seemingly no news. BioTime was 1.6% lower on Wednesday, closing at $3.01 apiece.
Amgen's major competitor, Regeneron (REGN) - Get Report , reported better-than-expected earnings on Thursday ahead of the market open. Regeneron fourth-quarter earnings per share were $3.04, compared to consensus estimates of $3.03. Total revenue was $1.23 billion. The stock fell 2.05% ahead of the open on Thursday. Shares hit $346 apiece.
Cempra (CEMP) shares were also on the move Thursday ahead of the opening bell. Cempra was up 1.72% ahead of the open, hitting $2.95. The stock fell 3.3% on Wednesday to close at $2.90.
Cempra is a microcap biotech that works on differentiated antibiotics. The shares were not impacted by any specific announcements or news.