Cempra (CEMP) kicked off its morning with positive news that sent its stock soaring ahead of market's open.
The Chapel Hill, N.C.-based biotech announced top line results from a phase three clinical trial of its fusidic acid, which can be used to treat skin infections Friday morning. The company's stock was up 46% ahead of the opening bell on the news, hitting $4.65 per share. This, though, was not enough for shares to regain the loss of 82% of their value experienced in the past year.
Incyte (INCY) , meanwhile, was up 5% pre-market thanks to news that it will join the S&P 500, replacing Spectra Energy Corp. (SE) . Incyte shares hit $128.10 apiece ahead of the opening bell Friday. The company has seen a 63% boost to share price over the past year.
Achillion Pharmaceuticals (ACHN) , meanwhile, was plummeting after reporting a loss for its fourth quarter after market's close Thursday. The company reported a loss of $4.4 million, or 3 cents per share. These results, though, beat the street's expectations of a loss of 18 cents per share. Investors, though, were still dumping the stock Friday ahead of market's open. Achillion shares fell 5.66% Friday, hitting $4 per share. This year, the company has lost 36% of its market value.
Inovio (INO) , meanwhile, continued to climb ahead of market's open Friday. The company had a positive day Thursday, finishing up 4.5% after reporting positive clinical data on its Zika vaccine. Inovio continued to climb Friday ahead of the opening bell. Shares were up 2.03% ahead of market's open, hitting $7.04 apiece.