Shares of Cempra (CEMP) rose 8.3% to $3.90 in premarket trading on Monday. The Chapel Hill, N.C.-based company said it has tapped Morgan Stanley & Co. LLC as financial adviser to lead its recently announced process to review strategic options.
Other biotech stock movers include Aralez Pharmaceuticals (ARLZ) , whose shares were down 11% to $3.14. The Ontario-based company on Monday reported a fourth-quarter GAAP net loss of $31.1 million, or $0.48 loss per share on a fully diluted basis. Revenue for the quarter was $20 million.
For full-year 2017, the company has forecast net revenue to be in the $80 million to $100 million range and negative adjusted Ebitda of $25 million to $10 million.