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Heat Biologics Inc HTBX stock was trading higher by nearly 50 percent early Tuesday morning. The nano-cap biotechnology saw its stock soar 87 percent throughout Monday's session and was higher by more than 120 percent at one point. There was no company specific news to support the volatility, but the movement could be attributed to recent trader interest in "low float stocks." In Heat Biologics case, there are approximately 5.6 million shares outstanding.
Tonix Pharmaceuticals Holding Corp TNXP was trading higher by nearly 7 percent. The clinical-stage biopharmaceutical company that focuses on creating treatment for serious neuropsychiatric conditions confirmed the FDA cleared its Investigational New Drug (IND) application to support the initiation of a Phase 2 study of its therapy called Tonmya for the treatment of patients with agitation in Alzheimer's disease.
Tenet Healthcare Corp THC gained more than 5 percent early after reporting first-quarter results Monday afternoon. The health care services company said it earned 57 cents per share in the first quarter, which marks an improvement from a 27 cent per share loss a year ago. Revenue of $4.699 billion exceeded the $4.59 billion Wall Street analysts were expecting.
Merck & Co., Inc. MRK was trading nearly flat after reporting mixed first-quarter results. The global pharmaceutical giant said it earned $1.05 per share in the first quarter on revenue of $10.04 billion versus expectations of $1.00 per share and $10.10 billion. The company also lifted its 2019 EPS guidance from $4.08-$4.23 to $4.16-$4.28 and lifted its sales guidance from $41.2-$42.7 billion to $41.8-$43 billion.
Karyopharm Therapeutics Inc KPTI gained more than 20 percent early in reaction to encouraging top-line data from a Phase 2b study called STORM. The clinical-stage pharmaceutical company said its oral selinexor achieved a 25.4 percent overall response rate among patients with refractory multiple myeloma and will now submit a New Drug Application to the FDA during the bottom half of 2018.
A Peek Into The Markets: US Stock Futures Flat, Apple Earnings In Focus
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