Vanda Pharma Stock (NASDAQ:VNDA), Trade Ideas

Vanda Pharma

Vanda Pharmaceuticals Inc is a biopharmaceutical company engaged in the development and commercialization of therapies to address high unmet medical needs and improve the lives of patients. Its commercial portfolio comprises three products, HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24) & nighttime sleep disturbances in Smith-Magenis Syndrome (SMS), Fanapt for the treatment of schizophrenia and PONVORY. Its other products include VHX-896, ASO Molecules, VQW-765, Tradipitant, VTR-297 and VHX-896. The majority of revenue is derived from HETLIOZ product sales.

Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc. - Common Stock

Vanda Pharmaceuticals Inc

ShareCap calls on the Board to initiate a strategic alternatives process that, among the alternatives, reconsiders Future Pak&#39;s offer.

News

VNDA

Vanda Pharmaceuticals Shareholder ShareCap Says Company Board Must Explore Strategic Alternatives

The U.S. Supreme Court has reportedly chosen not to review&nbsp;Vanda&nbsp;Pharmaceuticals Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) attempt to revive patents for its sleep-disorder medication Hetlioz, which had previously been invalidated in a legal battle with generic drugmakers&nbsp;Teva&nbsp;Pharmaceutical Industries Limited&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>) and&nbsp;Apotex.&nbsp;
Vanda had filed a lawsuit in 2018 against Teva and Apotex in Delaware, alleging patent infringement after they sought approval to manufacture generic versions of Hetlioz, Reuters noted.&nbsp;
The Federal Circuit, a patent-focused court, ruled against Vanda, leading to the company&#8217;s appeal to the Supreme Court, which was declined.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38297329/neuropsychiatric-focused-vanda-pharmaceuticals-rejects-future-paks-takeover-bid-valued-up-to-7-75" rel="noreferrer noopener">Neuropsychiatric-Focused Vanda Pharmaceuticals Rejects Future Pak&#8217;s Takeover Bid Valued Up To $7.75/Share</a>.
This decision marks the Supreme Court&#8217;s avoidance of addressing when a patent can be invalidated as &#8220;obvious,&#8221; a matter not revisited since 2007, as per the report.&nbsp;
Last year, a federal court granted final judgment in favor of Vanda Pharmaceuticals&#8217;&nbsp;Freedom of Information Act (FOIA) case requesting records created by the FDA while reviewing Vanda&#8217;s application seeking approval of&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/03/31545006/court-favors-vanda-in-case-against-fda-over-detail-disclosure-of-rejection-of-sleep-disorder-drug" rel="noreferrer noopener">Hetlioz (tasimelteon)</a>.
Vanda&#8217;s annual revenue from Hetlioz sales surpassed $100 million in 2023.&nbsp;
However, the company faced setbacks in its legal battle, with U.S. District Judge Colm Connolly ruling against Vanda in 2022, declaring its patents invalid based on various factors including clinical trial results and FDA guidance.&nbsp;
The Federal Circuit upheld this decision in 2023, prompting Vanda&#8217;s appeal to the Supreme Court earlier this year.
Vanda argued that the Federal Circuit&#8217;s standard for obviousness deviates from Supreme Court precedents, potentially rendering many drug development advancements unpatentable, particularly impacting treatments for rare diseases.&nbsp;
In response, Teva and Apotex contended that Vanda&#8217;s appeal was an attempt to extend its patent monopoly on Hetlioz, asserting that the case merely involved the application of settled obviousness law.
Price Action:&nbsp;VNDA shares are down 4.21% at $4.89 on the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Biotech

Equities

Health Care

Legal

Movers

Trading Ideas

General

TEVA

US Supreme Court Declines To Hear Vanda Pharmaceuticals' Case Regarding Invalidation Of Patents For Its Sleep Disorder Drug, Hetlioz

WIIM

Vanda Pharmaceuticals shares are trading lower after the US Supreme Court reportedly declined to hear the company's case regarding the invalidation of patents for Hetlioz.

<a href="https://finance.yahoo.com/news/1-u-supreme-court-rejects-153720025.html">https://finance.yahoo.com/news/1-u-supreme-court-rejects-153720025.html</a>
The U.S. Supreme Court on Monday declined to hear a bid by Vanda Pharmaceuticals to revive patents for its sleep-disorder drug Hetlioz that were previously declared invalid in a dispute with generic drugmakers Teva and Apotex.
The justices turned away Vanda's appeal of a ruling by the patent-focused U.S. Court of Appeals for the Federal Circuit against the company, which in 2018 had sued Teva and Apotex in Delaware for patent infringement after they applied to make generic versions of Vanda's Hetlioz, a circadian-rhythm drug used to treat rare sleep disorders.
In the case, the Supreme Court declined a chance to consider for the first time since 2007 when a patent can be invalidated as "obvious" based on earlier publications describing the same invention.
"The Federal Circuit's obviousness standard materially departs from the Supreme Court's longstanding holdings," Vanda attorney Paul Hughes said. "While we are disappointed that the Supreme Court declined review of this case, we remain hopeful that the court will ultimately correct the governing standard."
"Doing so is imperative in the pharmaceutical context, to ensure that life-changing therapeutics are timely developed and reach underserved patients," Hughes added.
A Teva spokesperson said that the company was pleased with the Supreme Court's action. Representatives for Apotex did not immediately respond to a request for comment.
Washington-based Vanda earned more than $100 million from sales of Hetlioz in 2023, according to a company report.
U.S. District Judge Colm Connolly ruled against Vanda and cleared a hurdle for the generics in 2022. Connolly found Vanda's patents invalid based on clinical trial results, U.S. Food and Drug Administration guidance and other documents that, when combined, would have made the patented inventions obvious to a scientist in the field.
The Federal Circuit upheld the decision in 2023. Vanda asked the Supreme Court in January to hear its appeal.
Vanda told the justices that the Federal Circuit has "charted its own course" and adopted a lower standard than the Supreme Court mandated for determining obviousness.
"Most relevant here, it threatens to render many advancements in drug development unpatentable," Vanda said. "That is an especially pernicious result for rare diseases, where patent-based incentives are crucial for innovators to invest the billions required to develop new, successful treatments."
 &nbsp;

'The U.S Supreme Court Has Reportedly Declined To Hear Vanda Pharmaceuticals' Case Regarding The Invalidation Of Certain Patents For Its Sleep-Wake Disorder Drug Hetlioz, That Were Previously Declared Invalid In A Dispute With Generic Drugmakers Teva And Apotex' - Yahoo Finance

<a href="https://ml.globenewswire.com/Resource/Download/9ee5bd01-bdbc-43f7-af2d-e4c34004b336">https://ml.globenewswire.com/Resource/Download/9ee5bd01-bdbc-43f7-af2d-e4c34004b336</a>
Dear Members of the Board:&nbsp;
A fund managed by Butler Hall Capital LLC, ("Butler Hall", "we" or "our") with current ownership of 350,000 shares of Vanda Pharmaceuticals Inc. ("Vanda" or the "Company"), has issued an open letter to the Company's board of directors (the "Board") regarding the potential bid for Vanda submitted by Future Pak, LLC ("Future Pak"). Future Pak has submitted a bid to acquire the Company without a financing contingency for a price that is 79.0%-91.4% above Vanda's closing price as of April 16th, 2024 and has indicated various ways to improve the offer including "a potential increase in the cash consideration" [1]. While we agree with the Board that the stock is significantly undervalued given the combination of its fortress balance sheet ($6.75/share of net cash), newly acquired Ponvory assets (which the Company paid $1.75/share for) and the $192.6 million of revenues in 2023 from its existing portfolio [1], we do not believe the Board has earned the right to outright reject such an offer. Moreover, the refusal to engage in a discussion leaves us extremely concerned that such actions will impair our investment in the Company. The Board should immediately form an independent special committee to engage with Future Pak and run a full sales process to achieve the highest value for shareholders. We believe any failure to do so would be a clear disregard of the Board's fiduciary duty to the Company's shareholders.
&nbsp;We believe the Board's actions over the past several years have led to significant value destruction and a stock that trades well below its net cash balance. We think these actions have left Vanda's management and the Board with no credibility as evident by the stock's anemic performance, specifically down 52.9% and 42.9% in 2022 and 2023, respecƟvely. Further, the poor equity performance has coincided with a period in which the management team has significantly enriched themselves. For example, Dr. Mihael Polymeropoulos, the Chairman of the Board and the Chief ExecuƟve Officer ("CEO") of the Company, has received approximately $40 million in compensaƟon over the past 10 years [2] . When considering that Vanda's stock has declined by approximately 83% in just the past five years and has significantly underperformed the indices highlighted in its last form 10-K filing, the compensaƟon of certain members of management appears excessive to us [3]. It also leads us to quesƟon the real reason why such a substanƟal offer was rejected and whether the Board is acƟng to enrich themselves rather than to maximize shareholder value.

Management

Butler Hall Capital Has Issued An Open Letter To VNDA's Board Of Directors Urging The Company To Run A Full Sales Process To Maximize Shareholder Value

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite falling more than 100 points on Wednesday.
The Dow traded up 0.04% to 37,813.77 while the NASDAQ fell 0.78% to 15,742.21. The S&amp;P 500 also fell, dropping, 0.34% to 5,034.17.
Check This Out: <a href="https://www.benzinga.com/news/24/04/38267894/alphabet-toll-brothers-and-2-other-stocks-insiders-are-selling"> Alphabet, Toll Brothers And 2 Other Stocks Insiders Are Selling </a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Utilities shares rose by 1.5% on Wednesday.
In trading on Wednesday, information technology shares fell by 1.1%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
U.S. Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) reported upbeat first-quarter FY24 earnings on Wednesday.
Revenue stood at $6.7 billion (-6.4% Y/Y), which aligns with the consensus. Adjusted earnings per share came in at 90 cents, beating the consensus of 88 cents.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
INVO Bioscience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/invo#NASDAQ">INVO</a>) shares shot up 218% to $2.4592 after the company reported a year-over-year increase in fourth-quarter revenue results and said it remains on track to reach its goal of reaching break-even or profitability within its current operations in 2024.
Shares of Edible Garden AG Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/edbl#NASDAQ">EDBL</a>) got a boost, surging 89% to $8.60 after the company reported preliminary first quarter fy24 results.
Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) shares were also up, gaining 30% to $5.28 after the company announced that it submitted three proposals since February to acquire all of the outstanding shares of common stock of Vanda Pharmaceuticals and confirmed that its most recent proposal to acquire Vanda remains open for Vanda and its Board of Directors to consider.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) shares dropped 38% to $2.1750 after the company announced the exercise of warrants for $6.2 million in gross proceeds.
Shares of Sage Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sage#NASDAQ">SAGE</a>) were down 19% to $12.63. The company announced topline results from Phase 2 PRECEDENT study of dalzanemdor for the treatment of people with mild cognitive impairment in Parkinson&#39;s Disease.
Ontrak, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/otrk#NASDAQ">OTRK</a>) was down, falling 21% to $0.3651 after the company reported worse-than-expected quarterly financial results.
Also Check This Out:<a href="https://www.benzinga.com/news/earnings/24/04/38285336/how-to-earn-500-a-month-from-intel-stock-ahead-of-q1-earnings"> How To Earn $500 A Month From Intel Stock Ahead Of Q1 Earnings </a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded down 3% to $82.78 while gold traded down 0.8% at $2,388.70.
Silver traded up 0.2% to $28.42 on Wednesday, while copper rose 0.8% to $4.3395.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares closed higher today. The eurozone&rsquo;s STOXX 600 gained 0.06%, London&rsquo;s FTSE 100 rose 0.35% while Spain&rsquo;s IBEX 35 Index gained 1.02% The German DAX gained 0.02% French CAC 40 climbed 0.62% while Italy&rsquo;s FTSE MIB Index gained 0.72%.
The consumer price inflation rate in the Eurozone came in at 2.4% year-over-year in March. The UK&rsquo;s inflation rate eased to 3.2% year-over-year in March versus 3.4% in the prior month, while producer prices increased 0.6% year-over-year in March.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed mixed on Wednesday, with Japan&rsquo;s Nikkei 225 falling 1.32%, Hong Kong&rsquo;s Hang Seng Index gaining 0.02% and China&rsquo;s Shanghai Composite gaining 2.14%.
Japan recorded a trade surplus of JPY 366,467 billion in March versus a deficit of JPY 750,854 billion in the year-ago period, while the Reuters Tankan sentiment index for manufacturers declined to +9 in April versus March&rsquo;s reading of +10.
&nbsp;
<h3>Economics</h3>
&nbsp;
U.S. mortgage applications climbed by 3.3% in the latest week.
Crude oil inventories in the U.S. climbed by 2.735 million barrels in the week ended April 12, compared to a 5.841 million gain in previous prior week.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38289870/top-5-tech-and-telecom-stocks-that-may-rocket-higher-this-month"> Top 5 Tech And Telecom Stocks That May Rocket Higher This Month </a>
&nbsp;

Earnings

Penny Stocks

Eurozone

Commodities

Small Cap

Global

Intraday Update

Markets

EDBL

INVO

LGVN

OTRK

SAGE

Crude Oil Dips 3%; U.S. Bancorp Profit Tops Views

Shares of The Travelers Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) fell sharply during Wednesday&rsquo;s session following first-quarter earnings.
Travelers reported a mixed first quarter, with earnings lagging analyst&#39; expectations. Core income per share reached $4.69 from $4.11 a year ago, missing the $4.90 consensus forecast. Net income per share rose to $4.80 from $4.13 a year earlier.
Travelers shares dipped 8.1% to $205.03 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>INVO Bioscience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/invo#NASDAQ">INVO</a>) shares shot up 256% to $2.78 after the company reported a year-over-year increase in fourth-quarter revenue results and said it remains on track to reach its goal of reaching break-even or profitability within its current operations in 2024.</li>
<li>Edible Garden AG Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/edbl#NASDAQ">EDBL</a>) gained 112% to $9.73 after the company reported preliminary first quarter FY24 results.</li>
<li>Sintx Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sint#NASDAQ">SINT</a>) jumped 53% to $0.0350.</li>
<li>VIA optronics AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/viao#NYSE">VIAO</a>) shares gained 50.4% to $0.3924 after dipping over 15% on Tuesday.</li>
<li>AERWINS Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/awin#NASDAQ">AWIN</a>) jumped 42.2% to $4.70.</li>
<li>The Children&#39;s Place, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plce#NASDAQ">PLCE</a>) climbed 35.5% to $9.64 after the company announced it entered into a new financing agreement with Mithaq Capital.</li>
<li>Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) gained 32% to $5.38 after the company announced that it submitted three proposals since February to acquire all of the outstanding shares of common stock of Vanda Pharmaceuticals and confirmed that its most recent proposal to acquire Vanda remains open for Vanda and its Board of Directors to consider.</li>
<li>EZGO Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ezgo#NASDAQ">EZGO</a>) gained 28% to $2.20. EZGO entered into a strategic cooperation framework agreement with Woteam to jointly explore the Southeast Asian Market.</li>
<li>CXApp Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cxai#NASDAQ">CXAI</a>) shares rose 25% to $4.89 after the company announced 24% ARR growth in 2023.</li>
<li>TRACON Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) rose 19.6% to $2.0461.</li>
<li>WiSA Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wisa#NASDAQ">WISA</a>) gained 19% to $7.32 on continued upward momentum after the company announced a 5-year WiSA E licensing agreement with an HDTV/PTV brand.</li>
<li>Viracta Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virx#NASDAQ">VIRX</a>) climbed 19% to $0.8501. Oppenheimer analyst Hartaj Singh maintained Viracta Therapeutics with an Outperform and maintained a $13 price target.</li>
<li>Spectaire Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spec#NASDAQ">SPEC</a>) rose 17.5% to $0.94 after the company announced that it signed a distribution partnership agreement with a Fortune 1000 Energy Company.</li>
<li>Rani Therapeutics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rani#NASDAQ">RANI</a>) jumped 14.4% to $7.86.</li>
<li>Cullinan Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgem#NASDAQ">CGEM</a>) gained 14% to $19.75. HC Wainwright &amp; Co. analyst Edward White maintained Cullinan Oncology with a Buy and lowered the price target from $34 to $29.</li>
<li>United Airlines Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) rose 11.2% to $46.12 after the company reported better-than-expected first-quarter financial results.</li>
<li>Chromocell Therapeutics Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chro#NYSE">CHRO</a>) gained 11.8% to $2.0356 after falling around 7% on Tuesday.</li>
<li>ALX Oncology Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alxo#NASDAQ">ALXO</a>) rose 10.4% to $16.01.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) gained 7.5% to $2.9250, bouncing back from the selling pressure the stock has faced in recent week.</li>
<li>Interactive Brokers Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibkr#NASDAQ">IBKR</a>) rose 5.2% to $112.93 following upbeat quarterly earnings.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>ICZOOM Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/izm#NASDAQ">IZM</a>) shares dipped 87.8% to $6.19.</li>
<li>Sunshine Biopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbfm#NASDAQ">SBFM</a>) fell 47% to $3.5879.</li>
<li>Trio Petroleum Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpet#NYSE">TPET</a>) fell 35.8% to $0.3144 after dipping over 22% on Tuesday.</li>
<li>Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) dipped 31% to $2.43 after the company announced the exercise of warrants for $6.2 million in gross proceeds.</li>
<li>iSun, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/isun#NASDAQ">ISUN</a>) declined 27% to $0.1556.</li>
<li>China SXT Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sxtc#NASDAQ">SXTC</a>) fell 25.7% to $1.2001. China SXT Pharmaceuticals shares jumped 38% on Tuesday following a post on X from trader Zack Morris mentioning the stock.</li>
<li>Portage Biotech Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prtg#NASDAQ">PRTG</a>) fell 25.3% to $0.21. The company recently announced that it is expanding its evaluation of strategic alternatives and implementing additional measures to extend its available cash runway.</li>
<li>Trilogy Metals Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmq#NYSE">TMQ</a>) shares fell 23.2% to $0.3865.</li>
<li>HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) dipped 22.6% to $1.44.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) fell 22% to $33.83 after gaining around 18% on Tuesday.</li>
<li>Finch Therapeutics Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fnch#NASDAQ">FNCH</a>) dipped 21.9% to $2.42.</li>
<li>Sage Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sage#NASDAQ">SAGE</a>) shares fell 20.8% to $12.37. The company announced topline results from Phase 2 PRECEDENT study of dalzanemdor for the treatment of people with mild cognitive impairment in Parkinson&#39;s Disease.</li>
<li>Ontrak, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/otrk#NASDAQ">OTRK</a>) fell 20.3% to $0.3666 after the company reported worse-than-expected quarterly financial results.</li>
<li>SolarMax Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smxt#NASDAQ">SMXT</a>) dipped 20% to $9.72 following fiscal year 2023 results.</li>
<li>Dragonfly Energy Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dfli#NASDAQ">DFLI</a>) declined 15.8% to $0.5199. Dragonfly Energy shares jumped over 36% on Tuesday after the company reported better-than-expected fourth-quarter EPS results.</li>
<li>Montrose Environmental Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/meg#NYSE">MEG</a>) fell 13.3% to $36.37 after announcing a public offering of 3 million shares.</li>
<li>Dynatronics Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dynt#NASDAQ">DYNT</a>) fell 12.2% to $0.50 after gaining around 48% on Tuesday.</li>
<li>VinFast Auto Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vfs#NASDAQ">VFS</a>) fell 12% to $2.70 following first-quarter earnings.</li>
<li>Adaptive Biotechnologies Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adpt#NASDAQ">ADPT</a>) declined 9.3% to $2.4950.</li>
<li>SNDL Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sndl#NASDAQ">SNDL</a>) fell 9.3% to $1.7950.</li>
<li>Arm Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arm#NASDAQ">ARM</a>) fell 9.3% to $110.65.</li>
<li>J B Hunt Transport Services Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jbht#NASDAQ">JBHT</a>) shares fell 9.2% to $166.25 after the company missed first-quarter revenue and EPS estimates.</li>
<li>MicroStrategy Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) dipped 8.8% to $1,143.81. MicroStrategy is expected to report its financial results for the first quarter of 2024 after the closing bell on April 29, 2024.</li>
<li>Forward Air Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fwrd#NASDAQ">FWRD</a>) fell 8.3% to $23.13.</li>
<li>Autodesk, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adsk#NASDAQ">ADSK</a>) fell 7.1% to $211.97 after the company announced that it will not file its Annual Report on Form 10-K for the year ended Jan. 31, 2024 within the 15-day extension period. The company provided an update on the previously reported internal investigation that is currently being conducted by the Audit Committee.</li>
<li>ASML Holding N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asml#NASDAQ">ASML</a>) shares declined 7.2% to $907.11 after the company reported worse-than-expected first-quarter results and issued second-quarter guidance.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38293462/discover-financial-gears-up-for-q1-print-these-most-accurate-analysts-revise-forecasts-ahead-of-ear"> Discover Financial Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>

ADPT

ADSK

ALXO

ASML

AWIN

CGEM

CHRO

CXAI

DFLI

DXYZ

DYNT

EZGO

FNCH

FWRD

HUBC

IBKR

ISUN

JBHT

MSTR

PLCE

PRTG

RANI

SBFM

SINT

SMXT

SNDL

SPEC

SXTC

TCON

TPET

VIAO

VIRX

WISA

Why Travelers Shares Are Trading Lower By Around 8%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

<h3>Gainers</h3>
<ul>
<li>INVO Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVO#NASDAQ">INVO</a>) stock rose 275.0% to $2.85 during Wednesday's regular session. The market value of their outstanding shares is at $7.4 million. As per the news, the Q4 earnings report came out yesterday. </li>
<li>Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) stock moved upwards by 33.33% to $5.4. The company's market cap stands at $310.7 million. </li>
<li>Galera Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRTX#NASDAQ">GRTX</a>) shares rose 27.76% to $0.22. The company's market cap stands at $11.8 million. </li>
<li>SINTX Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SINT#NASDAQ">SINT</a>) shares increased by 27.51% to $0.03. The company's market cap stands at $3.5 million. </li>
<li>Viracta Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRX#NASDAQ">VIRX</a>) stock moved upwards by 27.51% to $0.91. The company's market cap stands at $35.7 million. </li>
<li>Rani Therapeutics Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RANI#NASDAQ">RANI</a>) shares moved upwards by 24.59% to $8.56. The company's market cap stands at $222.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Dare Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DARE#NASDAQ">DARE</a>) shares decreased by 40.7% to $0.29 during Wednesday's regular session. The market value of their outstanding shares is at $28.9 million. </li>
<li>Longeveron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGVN#NASDAQ">LGVN</a>) stock fell 39.52% to $2.13. The market value of their outstanding shares is at $10.2 million. </li>
<li>Sage Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) shares declined by 23.04% to $12.03. The market value of their outstanding shares is at $723.0 million. </li>
<li>China SXT Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SXTC#NASDAQ">SXTC</a>) shares decreased by 22.84% to $1.25. </li>
<li>Finch Therapeutics Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNCH#NASDAQ">FNCH</a>) shares fell 22.59% to $2.4. The market value of their outstanding shares is at $3.8 million. </li>
<li>Adial Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADIL#NASDAQ">ADIL</a>) shares fell 20.99% to $1.77. The market value of their outstanding shares is at $7.1 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ADIL

DARE

GRTX

12 Health Care Stocks Moving In Wednesday's Intraday Session

On Wednesday,&nbsp;Vanda Pharmaceuticals Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) confirmed that, since March 2024, it had received several unsolicited proposals from&nbsp;Future Pak LLC&nbsp;to acquire all of Vanda&#8217;s outstanding shares.&nbsp;
The most recent proposal offered $7.25 &#8211; $7.75 per share, subject to certain terms and conditions.
The current proposal implies a premium of 79.0% to 91.4% to Vanda&#8217;s closing price of $4.05 as of April 16, 2024.
The Vanda Board of Directors concluded that the offers were not in the company&#8217;s and its shareholders&#8217; best interests, as it significantly&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38291576/vanda-pharmaceuticals-confirms-rejection-of-unsolicited-takeover-proposals-from-future-pak" rel="noreferrer noopener">undervalued the company</a>.
Vanda said it had established a resilient business with a diverse product set, a history of top-line growth, and durable cash flow.
The Board believes the Conditional Proposals are opportunistic attempts to purchase the company&#8217;s shares at a discount to Vanda&#8217;s intrinsic value and would transfer significant value to Future Pak at the expense of Vanda shareholders, including approximately $6.751 per share in cash and marketable securities.&nbsp;
Earlier this month, the FDA approved Vanda&#8217;s Fanapt (iloperidone) tablets for the acute treatment of manic or mixed episodes associated with&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38060345/vanda-pharmaceuticals-fanapt-iloperidone-receives-u-s-fda-approval-for-the-acute-treatment-of-bipo" rel="noreferrer noopener">bipolar I disorder in adults</a>, sending shares 30% higher.
The company says Future Pak&#8217;s latest unsolicited proposal provides a mere 7–15% premium to such cash balance, ascribing very little value to the company&#8217;s significant revenue stream and pipeline.
Future Pak is a privately held contract manufacturer and packager of pharmaceutical and nutraceutical products.&nbsp;
In its letters to Vanda, Future Pak has also expressed a willingness to explore various ways to improve its proposal that could provide Vanda shareholders additional upside beyond the stated cash consideration.&nbsp;
Future Pak would not require a financing contingency in connection with a transaction and has the full support of its strategic financial partner, Colbeck Capital Management.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36135531/vanda-pharmaceuticals-acquires-rights-to-multiple-sclerosis-drug-from-johnson-johnsons-company" rel="noreferrer noopener">Vanda Pharmaceuticals Acquires Rights To Multiple Sclerosis Drug From Johnson &amp; Johnson&#8217;s Company</a>.
Price Action:&nbsp;VNDA shares are up 33.8% at $5.41 on the last check Wednesday.

Neuropsychiatric-Focused Vanda Pharmaceuticals Rejects Future Pak's Takeover Bid Valued Up To $7.75/Share

Vanda Pharmaceuticals Inc. ("Vanda" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) today announced that its Board of Directors (the "Board") has adopted a limited duration stockholder rights plan (the "Rights Plan") to protect stockholder interests and maximize value for all stockholders. The Rights Plan is effective immediately.
<a href="https://mma.prnewswire.com/media/2090054/VandaLogo_Logo.html"><img src="https://mma.prnewswire.com/media/2090054/VandaLogo_Logo.jpg" alt="Vanda Logo (PRNewsfoto/Vanda Pharmaceuticals Inc.)" /></a>
The Board adopted the Rights Plan in response to the unsolicited acquisition proposal made by Future Pak, LLC ("Future Pak") on April 1, 2024. The Board, in consultation with its independent financial and legal advisors, consistent with its fiduciary duties, carefully reviewed the unsolicited acquisition proposal and concluded that it is not in the best interests of the Company and its stockholders, as it significantly undervalues the Company in light of its robust clinical development pipeline, expanding commercial presence, significant cash balance and long-term future growth prospects.
The Rights Plan is intended to enable stockholders to realize the full value of their investment in Vanda and will reduce the likelihood that any entity, person or group gains control of the Company through open-market accumulation without paying all stockholders an appropriate control premium or providing the Board sufficient opportunity to make informed judgments and take actions that are in the best interests of all stockholders. The Rights Plan applies equally to all current and future stockholders and is not intended to deter offers or preclude the Board from considering offers that are fair and otherwise in the best interest of the Company's stockholders.
The Rights Plan is similar to other plans adopted by publicly held companies in comparable circumstances. Under the Rights Plan, the rights will become exercisable if any person, entity or group acquires beneficial ownership of 10% or more of Vanda's outstanding common stock in a transaction not approved by the Board. In the event that the rights become exercisable due to the triggering ownership threshold being crossed, each right will entitle its holder (other than the person, entity or group triggering the Rights Plan, whose rights will become void and will not be exercisable) to purchase, at the then-current exercise price, additional shares of common stock or equivalent securities having a then-current market value of twice the exercise price of the right.
The Rights Plan has a one-year term, expiring on&nbsp;April 16, 2025. The Board may consider an earlier termination of the Rights Plan as circumstances warrant. The dividend distribution of rights will be payable to stockholders of record as of the close of business on April 29, 2024.

Vanda Pharmaceuticals Adopts 1-Year Term Limited Duration Stockholder Rights Plan To Protect Stockholder Interests And Maximize Value For All Stockholders, Effective Immediately

Board Determined Unsolicited Takeover Proposals Significantly Undervalue the Company
No Shareholder Action Required at This Time &nbsp;
WASHINGTON, April 17, 2024 /PRNewswire/ -- Vanda Pharmaceuticals Inc. ("Vanda" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) today confirmed that, since March 2024, it received several unsolicited proposals from Future Pak, LLC ("Future Pak"), to acquire all of the outstanding shares of Vanda (the "Conditional Proposals"). The most recent proposal from April 1 offered $7.25 - $7.75 per share, subject to certain terms and conditions.
The Vanda Board of Directors (the "Board"), in consultation with its independent financial and legal advisors, consistent with its fiduciary duties, carefully reviewed the Conditional Proposals and unanimously concluded that they are not in the best interests of the Company and its shareholders, as they significantly undervalue the Company.
In reaching its conclusions about each of the Conditional Proposals, the Board considered, among other things, Vanda's robust clinical development pipeline, expanding commercial presence, significant cash balance and long-term future growth prospects. Vanda has established a resilient business with a diverse product set, a history of top-line growth and durable cash flow.
The Board believes the Conditional Proposals are opportunistic attempts to purchase the Company's shares at a discount to Vanda's intrinsic value and would transfer significant value to Future Pak at the expense of Vanda shareholders, including approximately $6.751 per share in cash and marketable securities. Future Pak's latest unsolicited proposal provides a mere 7 – 15% premium to such cash balance, ascribing therefore very little value to the Company's significant revenue stream and pipeline.
There is no action for shareholders to take at this time.

Vanda Pharmaceuticals Confirms Rejection Of Unsolicited Takeover Proposals From Future Pak; Says "Board Determined Unsolicited Takeover Proposals Significantly Undervalue The Company"

VNDA: 50% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38289048">Vanda Pharmaceuticals shares are trading higher after the company announced that it submitted three proposals since February to acquire all of the outstanding shares of common stock of Vanda Pharmaceuticals and confirmed that its most recent proposal to acquire Vanda remains open for Vanda and its Board of Directors to consider.</a>
INVO: 127% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38289008">INVO BioScience shares are trading higher after the company reported a year-over-year increase in Q4 revenue results and said it remains on track to reach its goal of reaching break-even or profitability within its current operations in 2024.</a>
CXAI: 35% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/38281267">CXApp share are trading higher after the company announced 24% ARR growth in 2023.</a>

Market-Moving News for April 17th

<h3>Gainers</h3>
<ul>
<li>INVO Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVO#NASDAQ">INVO</a>) shares increased by 93.4% to $1.47 during Wednesday's pre-market session. The market value of their outstanding shares is at $3.8 million. As per the press release, Q4 earnings came out yesterday. </li>
<li>Clene (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLNN#NASDAQ">CLNN</a>) shares moved upwards by 40.8% to $0.44. The market value of their outstanding shares is at $56.0 million. </li>
<li>Galera Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRTX#NASDAQ">GRTX</a>) shares moved upwards by 31.76% to $0.22. The market value of their outstanding shares is at $12.1 million. </li>
<li>Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) stock moved upwards by 26.91% to $5.14. The company's market cap stands at $295.7 million. </li>
<li>Chromocell Therapeutics (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#AMEX">CHRO</a>) shares moved upwards by 23.62% to $2.25. The market value of their outstanding shares is at $12.9 million. </li>
<li>BIMI Intl Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) shares moved upwards by 16.98% to $1.86. The company's market cap stands at $26.0 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Sage Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) stock decreased by 19.4% to $12.6 during Wednesday's pre-market session. The market value of their outstanding shares is at $757.3 million. </li>
<li>Ontrak (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTRK#NASDAQ">OTRK</a>) stock declined by 17.81% to $0.38. The company's market cap stands at $16.0 million. The company's, Q4 earnings came out yesterday. </li>
<li>China SXT Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SXTC#NASDAQ">SXTC</a>) shares declined by 17.29% to $1.34. </li>
<li>Dynatronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DYNT#NASDAQ">DYNT</a>) shares decreased by 11.91% to $0.48. The company's market cap stands at $2.3 million. </li>
<li>Etao International Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETAO#NASDAQ">ETAO</a>) shares declined by 11.89% to $3.3. The market value of their outstanding shares is at $16.9 million. </li>
<li>Precision BioSciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DTIL#NASDAQ">DTIL</a>) shares declined by 10.96% to $11.46. The market value of their outstanding shares is at $79.2 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BIMI

CLNN

DTIL

ETAO

12 Health Care Stocks Moving In Wednesday's Pre-Market Session

Vanda Pharmaceuticals shares are trading higher after the company announced that it submitted three proposals since February to acquire all of the outstanding shares of common stock of Vanda Pharmaceuticals and confirmed that its most recent proposal to acquire Vanda remains open for Vanda and its Board of Directors to consider.

Future Pak Announced That It Has Submitted Three Proposals Since February To Acquire Vanda Pharmaceuticals And Confirms That Its Most Recent Proposal Of $7.25-$7.75 Per Share Remains Open For Vanda And Its Board Of Directors To Consider

Pipeline and regulatory updates continue to be in focus in the biotech sector. While nothing much came out of bigwigs apart from a few, shares of clinical-stage biotechs like Disc Medicine, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iron#NASDAQ">IRON</a>) and Verve Therapeutics (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/verv#NASDAQ">VERV</a>) plunged on disappointing updates.
<h3>Recap of the Week&#39;s Most Important Stories:</h3>
Updates From BMY: Bristol Myers Squibb (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) announced that the European Commission&nbsp;has approved a label expansion of Reblozyl (luspatercept). The EC expanded the drug&#39;s label to include the first-line treatment of adult patients with transfusion-dependent anemia due to very low, low and intermediate-risk myelodysplastic syndromes (MDS). The approval of Reblozyl covers all European Union (ETF:EU) member states.
The latest approval is based on results of the late-stage COMMANDS study, wherein Reblozyl demonstrated superior efficacy compared to epoetin alfa in the study&#39;s primary endpoint of concurrent red blood cell transfusion independence and hemoglobin increase.
Safety results were consistent with previous MDS studies and in line with expected symptoms in this patient population. Reblozyl is already indicated in the EU for the treatment of adult patients with transfusion-dependent anemia due to very low, low and intermediate-risk MDS with ring sideroblasts, who had an unsatisfactory response to or are ineligible for erythropoietin-based therapy. It is also indicated for the treatment of adult patients with anemia, associated with transfusion-dependent and non-transfusion-dependent beta-thalassemia.
Earlier, Bristol Myers announced that a late-stage study on orally-administered Zeposia (ozanimod) in Crohn&#39;s disease (CD) indication failed to achieve its primary endpoint. This late-stage study was the first of the two induction studies in the phase III YELLOWSTONE clinical program, which evaluated Zeposia in 600 adult patients with moderate to severe active CD over a 12-week treatment period. Initial results from the study showed that treatment with Zeposia failed to meet the primary endpoint of clinical remission at week 12.
BMY currently has a Zacks Rank #3 (Hold).
IRON Down on Study Results:&nbsp; Shares of Disc Medicine, Inc., a clinical-stage biopharmaceutical company, plunged after the company announced mixed results from a phase II study of lead pipeline candidate, bitopertin, in patients with erythropoietic protoporphyria (ETF:EPP). The AURORA study is a randomized, double-blind, placebo-controlled phase II study that enrolled 75 adult subjects with EPP. The participants were randomized 1:1:1 to receive 20 mg of bitopertin, 60 mg of bitopertin, or placebo once daily for 17 weeks.
Treatment with bitopertin resulted in statistically significant reductions in toxic metabolite protoporphyrin IX (PPIX), the primary endpoint, and significant improvements in the rate of phototoxic reactions with pain and the Patient Global Impression of Change. The 60 mg dose reached statistical significance compared to placebo. The 20mg cohort achieved a 21.6% reduction in whole blood PPIX levels and the 60mg dose achieved a 40.7% reduction in whole blood PPIX levels. The placebo group had a mean increase of 8.0%.
However, the study did not achieve its key secondary endpoint of cumulative time in sunlight on days without pain. Results showed that biopterin-treated patients recorded a mean of 175.1 hours at 20 mg and 153.1 hours at 60 mg compared with 133.9 hours for the placebo of cumulative total time in sunlight between 10 am and 6 pm on days without pain, as observed over the four-month treatment period. While the magnitude of the improvement in the biopterin-treated patients was comparable to that observed in the BEACON study, the benefit in the placebo arm in the AURORA trial was greater than expected.
Disc Medicine will conduct an analysis of its final data set and work with investigators, regulators and patient advocacy groups to define the optimal registrational endpoints moving forward.
VERV Down on Study Pause:&nbsp; Verve Therapeutics&#39;s shares plunged after the company announced updates from the Heart-1 phase Ib study on investigational gene editing medicine VERVE-101. The candidate is designed to be a single-course treatment that permanently turns off the PCSK9 gene in the liver to reduce disease-driving low-density lipoprotein cholesterol (LDL-C).
VERVE-101 is being evaluated in the phase Ib study with trial endpoints of safety and tolerability as well as changes in blood PCSK9 protein and low-density lipoprotein cholesterol (LDL-C) levels in patients suffering from heterozygous familial hypercholesterolemia (HeFH), established atherosclerotic cardiovascular disease (ASCVD) and uncontrolled hypercholesterolemia.
A total of 13 participants have been dosed in the study. Among these, six have been dosed at 0.45 mg/kg of VERVE-101. Data showed that the VERVE-101 demonstrated time-averaged LDL-C reductions ranging between 21% and 73%, and averaging 46% for the first five participants in this cohort, with follow-up to at least 28 days.
However, the sixth participant experienced a serious drug-related adverse event. This patient, treated in the 0.45 mg/kg cohort, experienced a grade 3 drug-induced transient increase in serum alanine aminotransferase as well as a serious adverse event of grade 3 drug-induced thrombocytopenia within the first four days after dosing.&nbsp; Per management, the abnormalities resolved fully within a few days and the participant did not experience any bleeding or other symptom related to the laboratory abnormalities.
Consequently, the company has decided to pause enrollment in this study in consultation with the independent data and safety monitoring board. Verve will now focus on the development of its other candidate, VERVE-102, and the initiation of the Heart-2 clinical trial.
VNDA Up on Drug Approval:&nbsp; Vanda Pharmaceuticals Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) shares rose after the company obtained FDA approval of Fanapt (iloperidone) tablets for the acute treatment of manic or mixed episodes associated with bipolar I disorder in adults. The approval of Fanapt for bipolar disorder was based on data from a pivotal study, which evaluated around 400 patients with bipolar I disorder. Data from the study showed that patients who were treated with Fanapt experienced a larger improvement in the core symptoms of mania than patients who received placebo at the end of week four, and this difference was statistically significant.
The drug is already approved in the United States for the acute treatment of patients with schizophrenia. The approval for Fanapt in the given indication could present a significant commercial opportunity for Vanda Pharmaceuticals.
<h3>Performance</h3>
The Nasdaq Biotechnology Index has dropped 3.15% in the past four trading sessions. Among the biotech giants, Moderna&#39;s shares have lost 8.48% during the same time frame. Over the past six months, shares of VRTX have risen 18.44%.
<h3>&nbsp;</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/cd/64328.jpg?v=1325899176" /> 
Image Source: Zacks Investment Research
<h3>What&#39;s Next in Biotech?</h3>
Stay tuned for pipeline updates.
<a href="https://www.zacks.com/stock/news/2250720/biotech-stock-roundup-iron-verv-down-on-study-updates-bmys-drug-news-more?cid=CS-BENZ-FT-analyst_blog|stock_roundup-2250720">To read this article on Zacks.com click here.</a>

IRON

VERV

Biotech Stock Roundup: IRON, VERV Down on Study Updates, BMYs Drug News & More

U.S. stocks traded higher toward the end of trading, with the S&amp;P 500 gaining around 0.3% on Wednesday.
The Dow traded up 0.08% to 39,200.08 while the NASDAQ rose 0.46% to 16,315.68. The S&amp;P 500 also rose, gaining, 0.31% to 5,221.70.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38066319/insiders-buying-walgreens-and-2-other-stocks"> Insiders Buying Walgreens And 2 Other Stocks</a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Industrials shares jumped by 0.8% on Wednesday.
In trading on Wednesday, consumer staples shares fell by 0.9%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Acuity Brands, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ayi#NYSE">AYI</a>) reported better-than-expected earnings for its second quarter.
The company posted a quarterly net sales decline of 4.0% year-over-year to $905.9 million, missing the consensus of $907.7 million. It clocked an adjusted EPS of $3.38, beating the consensus of $3.25.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Kintara Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktra#NASDAQ">KTRA</a>) shares shot up 63% to $0.1637 after the company entered a merger agreement with TuHURA Biosciences.
Shares of ARCA biopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abio#NASDAQ">ABIO</a>) got a boost, surging 78% to $3.04 after the company and Oruka Therapeutics announced a merger agreement.
Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) shares were also up, gaining 32% to $5.17 after the company&#39;s Fanapt received FDA approval for the acute treatment of bipolar I disorder.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Casa Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casa#NASDAQ">CASA</a>) shares dropped 81% to $0.0485 after the Company filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court.
Shares of View, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/view#NASDAQ">VIEW</a>) were down 63% to $0.4020 after the company filed for Chapter 11 bankruptcy. The company on Tuesday said it reached a real with Cantor Fitzgerald and RXR to become a private company.
Sintx Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sint#NASDAQ">SINT</a>) was down, falling 46% to $0.0227 after the company announced pricing of a $1.5 million public offering of common stock.
Also Check This Out:<a href="https://www.benzinga.com/news/earnings/24/04/38062892/how-to-earn-500-a-month-from-levi-strauss-stock-ahead-of-q1-earnings-report"> How To Earn $500 A Month From Levi Strauss Stock Ahead Of Q1 Earnings Report</a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded up 0.5% to $85.61 while gold traded up 1.4% at $2,313.90.
Silver traded up 4.1% to $26.995 on Wednesday, while copper rose 2.9% to $4.1865.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares closed higher today. The eurozone&rsquo;s STOXX 600 rose 0.29%, London&rsquo;s FTSE 100 rose 0.03% while Spain&rsquo;s IBEX 35 Index rose 0.52% The German DAX rose 0.46% French CAC 40 rose 0.29% while Italy&rsquo;s FTSE MIB Index rose 0.45%.
The consumer price inflation rate in the eurozone eased to 2.4% year-over-year in March, compared to market expectations of 2.6%, while the unemployment rate in the eurozone came in at 6.5% in February, versus market estimates of 6.4%.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed lower on Wednesday, with Japan&rsquo;s Nikkei 225 falling 0.97%, Hong Kong&rsquo;s Hang Seng Index dipping 1.22%, China&rsquo;s Shanghai Composite Index falling 0.18% and India&rsquo;s S&amp;P BSE Sensex falling 0.1%.
Retail sales in Hong Kong climbed 0.5% year-over-year in February following a 1.2% decline in the prior month. The Caixin China General Services PMI rose to 52.7 in March from 52.5 in February, while composite PMI rose to 52.7 in March from 52.5 in the previous two months.
The au Jibun Bank Japan services PMI fell to 54.1 in March from a preliminary level 54.9, while composite PMI fell to 51.7 in March versus a flash reading of 52.3.
&nbsp;
<h3>Economics</h3>
&nbsp;
Mortgage applications in the U.S. declined by 0.6% on the week ending March 29, 2024.
Private businesses in the U.S. added 184,000 workers in March compared to a revised 155,000 gain in February, and topping market estimates of 148,000.
The S&amp;P Global composite PMI was revised lower to 52.1 in March from a preliminary reading of 52.2.
The ISM services PMI declined to 51.4 in March compared to February&rsquo;s reading of 52.6 and compared to market estimates of 52.7.
U.S. crude oil inventories increased by 3.21 million barrels in the week ended March 29, 2024, compared to market estimates of a 1.511 million decline, the EIA said.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38066354/top-5-industrials-stocks-that-could-blast-off-this-quarter"> Top 5 Industrials Stocks That Could Blast Off This Quarter</a>

ABIO

CASA

Kintara Therapeutics, Inc. - Common Stock

KTRA

VIEW

Nasdaq Gains 75 Points; Acuity Brands Posts Upbeat Earnings

Shares of Ulta Beauty, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulta#NASDAQ">ULTA</a>) fell sharply during Wednesday&rsquo;s session amid the company&#39;s presentation at the J.P. Morgan Retail Roundup investor conference where the company reportedly issued a weak outlook.
Ulta Beauty shares dipped 13.7% to $448.08 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>ARCA biopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abio#NASDAQ">ABIO</a>) climbed 108% to $3.5549 after the company and Oruka Therapeutics announced a merger agreement.</li>
<li>Kintara Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktra#NASDAQ">KTRA</a>) shares gained 89% to $0.1906 after the company entered a merger agreement with TuHURA Biosciences.</li>
<li>Next Technology Holding Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxtt#NASDAQ">NXTT</a>) rose 57.4% to $6.42.</li>
<li>Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) shares climbed 39.3% to $5.45. Vanda Pharmaceuticals&#39; Fanapt&reg; received U.S. FDA approval for the acute treatment of Bipolar I Disorder.</li>
<li>VivoPower International PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vvpr#NASDAQ">VVPR</a>) shares gained 39% to $8.20 after the company declared a capital management strategy including a stock buyback program of up to $5 million.</li>
<li>Next.e.GO N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egox#NASDAQ">EGOX</a>) gained 32.7% to $0.0345.</li>
<li>XTI Aerospace, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xtia#NASDAQ">XTIA</a>) rose 32.2% to $4.63. BestGrowthStocks.com issued comprehensive evaluation of XTI Aerospace, Inc.</li>
<li>Brooge Energy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brog#NASDAQ">BROG</a>) gained 28.8% to $3.0790.</li>
<li>Addex Therapeutics Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adxn#NASDAQ">ADXN</a>) rose 24.6% to $16.21 after the company and funds affiliated with Perceptive Advisors announced the launch of Neurosterix.</li>
<li>Aesthetic Medical International Holdings Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aih#NASDAQ">AIH</a>) gained 24.3% to $0.3981 after gaining 13% on Tuesday.</li>
<li>LAMF Global Ventures Corp. I (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvc#NASDAQ">LGVC</a>) gained 22.7% to $13.21. ViewLAMF Global Ventures Corp. I shareholders approved previously announced business combination with Nuvo Group Ltd.</li>
<li>Quhuo Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qh#NASDAQ">QH</a>) rose 21.7% to $0.6501 after reporting unaudited financial results for the second half and full year 2023.</li>
<li>Destiny Tech100 Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NYSE">DXYZ</a>) gained 21.4% to $25.77.</li>
<li>OneMedNet Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/onmd#NASDAQ">ONMD</a>) gained 21.2% to $0.9600. OneMedNet announced it entered a securities purchase agreement dated Mar. 28 providing up to $4.54 million in funding through private placement of senior convertible notes.</li>
<li>CXApp Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cxai#NASDAQ">CXAI</a>) gained 20.5% to $5.40 following a massive rally to start the week. CXApp shares rallied more than 150% to start the week after the company announced a partnership with Alphabet&rsquo;s Google Cloud.</li>
<li>Clean Energy Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cety#NASDAQ">CETY</a>) climbed 20.5% to $1.63.</li>
<li>American Battery Technology Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abat#NASDAQ">ABAT</a>) rose 17.7% to $1.9301. American Battery Technology Company was awarded $20 million tax credit through competitive U.S. DOE process to advance its critical minerals battery recycling facility.</li>
<li>C3is Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ciss#NASDAQ">CISS</a>) shares rose 14.9% to $0.0470 after gaining 13% on Tuesday. On March 26, C3is reported a year-over-year increase in fourth-quarter financial results.</li>
<li>Pyxis Oncology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pyxs#NASDAQ">PYXS</a>) gained 12.3% to $6.04.</li>
<li>Atai Life Sciences N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atai#NASDAQ">ATAI</a>) surged 11.4% to $2.08. Maxim Group analyst Jason McCarthy upgraded ATAI Life Sciences from Hold to Buy and announced a $6 price target.</li>
<li>Dave &amp; Buster&#39;s Entertainment, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/play#NASDAQ">PLAY</a>) shares rose 10.2% to $68.22 after the company reported fourth quarter results.</li>
<li>Esperion Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/espr#NASDAQ">ESPR</a>) jumped 9.7% to $3.16.</li>
<li>Signet Jewelers Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sig#NYSE">SIG</a>) gained 9.2% to $103.80after the company raised its FY25 guidance.</li>
<li>Inspire Veterinary Partners, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ivp#NASDAQ">IVP</a>) gained 9% to $0.0512. On Jan. 5, Inspire Veterinary Partners filed a prospectus related to up to a $5 million public offering.</li>
<li>Semtech Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smtc#NASDAQ">SMTC</a>) gained 7.4% to $30.28.</li>
<li>Cal-Maine Foods, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/calm#NASDAQ">CALM</a>) climbed 6.8% to $62.88 after the company reported upbeat results for its fourth quarter.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Casa Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casa#NASDAQ">CASA</a>) shares dipped 78.1% to $0.0563 after the Company filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court.</li>
<li>View, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/view#NASDAQ">VIEW</a>) fell 61.9% to $0.4196 after the company filed for Chapter 11 bankruptcy. The company on Tuesday said it reached a real with Cantor Fitzgerald and RXR to become a private company.</li>
<li>Sintx Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sint#NASDAQ">SINT</a>) fell 44.5% to $0.0232 after the company announced pricing of a $1.5 million public offering of common stock.</li>
<li>GCT Semiconductor Holding, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gcts#NYSE">GCTS</a>) dipped 40% to $9.29 amid volatility following the company&#39;s recently completed business combination with Concord Acquisition Corp III and NYSE debut.</li>
<li>FibroGen, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fgen#NASDAQ">FGEN</a>) fell 32.8% to $1.4499. FibroGen announced topline data from the Fortis Therapeutics-sponsored Phase 1 study of FG-3246 (also known as FOR46), a potential first-in-class anti-CD46 antibody drug conjugate (ADC) with an MMAE-containing payload.</li>
<li>Keyarch Acquisition Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kych#NASDAQ">KYCH</a>) fell 28.5% to $9.65.</li>
<li>TRACON Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) dipped 24.2% to $0.3148 as the company issued an update on ongoing ENVASARC Phase 2 pivotal trial following Independent Data Monitoring Committee Recommendation to continue the trial as planned.</li>
<li>BYND Cannasoft Enterprises Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcan#NASDAQ">BCAN</a>) fell 22.5% to $0.9741 after dipping around 12% on Tuesday.</li>
<li>Anghami Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/angh#NASDAQ">ANGH</a>) fell 22.2% to $1.40. Anghami recently announced that it completed its transaction with OSN+.</li>
<li>Locafy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lcfy#NASDAQ">LCFY</a>) dipped 21.9% to $3.67 following second-quarter results.</li>
<li>Vicinity Motor Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vev#NASDAQ">VEV</a>) fell 19.3% to $0.75 after the company reported a year-over-year decrease in fourth-quarter EPS results.</li>
<li>Enveric Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/envb#NASDAQ">ENVB</a>) dipped 18.4% to $0.93.</li>
<li>Murano Global Investments Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrno#NASDAQ">MRNO</a>) fell 16.8% to $10.39.</li>
<li>Critical Metals Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crml#NASDAQ">CRML</a>) fell 16.7% to $11.66.</li>
<li>Acorda Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acor#NASDAQ">ACOR</a>) shares fell 12% to $2.20. Acorda Therapeutics shares dipped 81% on Tuesday after the company commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code.</li>
<li>Exscientia plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exai#NASDAQ">EXAI</a>) fell 10.8% to $4.6395 following quarterly results.</li>
<li>Gamida Cell Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmda#NASDAQ">GMDA</a>) shares fell 8.4% to $0.0403 after gaining 18% on Tuesday.</li>
<li>e.l.f. Beauty, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/elf#NYSE">ELF</a>) fell 8.2% to $170.71 after peer Ulta Beauty reportedly issued weak guidance at a conference.</li>
<li>NWTN Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nwtn#NASDAQ">NWTN</a>) fell 8% to $7.21.</li>
<li>Mesoblast Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meso#NASDAQ">MESO</a>) shares tumbled 7.3% to $6.11 after gaining 8% on Tuesday.</li>
<li>Applied Digital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apld#NASDAQ">APLD</a>) fell 6.1% to $3.5850.</li>
<li>Lands&#39; End, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/le#NASDAQ">LE</a>) fell 6.1% to $11.25.</li>
<li>Intel Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/intc#NASDAQ">INTC</a>) fell 6.1% to $41.27 after the company outlined a new financial framework for its foundry business. After the market close on Tuesday, Intel announced a new financial reporting structure designed to drive increased cost discipline and higher returns by providing greater transparency, accountability and incentives across the business.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38069445/ethereum-trades-below-3-400-following-adp-report-stacks-becomes-top-loser"> Ethereum Trades Below $3,400 Following ADP Report; Stacks Becomes Top Loser</a>

ABAT

ACOR

ADXN

ANGH

APLD

ATAI

BCAN

BROG

CALM

CETY

CISS

CRML

EGOX

ENVB

ESPR

EXAI

FGEN

GCTS

GMDA

INTC

KYCH

LCFY

LGVC

MESO

MRNO

NWTN

Next Technology Holding Inc. - Ordinary Shares

NXTT

ONMD

PLAY

PYXS

SMTC

ULTA

VVPR

XTIA

Why Ulta Beauty Shares Are Trading Lower By Around 14%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

<h3>Gainers</h3>
<ul>
<li>ARCA biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABIO#NASDAQ">ABIO</a>) shares moved upwards by 84.8% to $3.16 during Wednesday's regular session. The market value of their outstanding shares is at $45.8 million. </li>
<li>Kintara Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTRA#NASDAQ">KTRA</a>) stock moved upwards by 71.81% to $0.17. The market value of their outstanding shares is at $6.7 million. </li>
<li>Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) shares rose 39.38% to $5.45. The market value of their outstanding shares is at $313.5 million. </li>
<li>Sunshine Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFM#NASDAQ">SBFM</a>) shares moved upwards by 29.67% to $0.11. The company's market cap stands at $10.5 million. </li>
<li>Barinthus Biotherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRNS#NASDAQ">BRNS</a>) shares moved upwards by 27.0% to $3.01. The company's market cap stands at $117.1 million. </li>
<li>Envoy Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COCH#NASDAQ">COCH</a>) stock increased by 24.99% to $5.6. The company's market cap stands at $109.4 million. As per the news, the Q4 earnings report came out yesterday. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>SINTX Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SINT#NASDAQ">SINT</a>) stock decreased by 44.5% to $0.02 during Wednesday's regular session. The company's market cap stands at $1.1 million. </li>
<li>TRACON Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCON#NASDAQ">TCON</a>) stock declined by 35.4% to $0.27. The company's market cap stands at $12.2 million. </li>
<li>FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) shares declined by 32.64% to $1.46. The company's market cap stands at $143.7 million. </li>
<li>Acorda Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACOR#NASDAQ">ACOR</a>) shares declined by 22.41% to $1.94. The company's market cap stands at $2.4 million. As per the news, the Q4 earnings report came out 2 days ago. </li>
<li>Biodexa Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BDRX#NASDAQ">BDRX</a>) shares fell 16.18% to $1.14. The market value of their outstanding shares is at $4.8 million. </li>
<li>BioSig Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSGM#NASDAQ">BSGM</a>) shares fell 15.33% to $0.57. The market value of their outstanding shares is at $5.3 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BDRX

BRNS

BSGM

Envoy Medical, Inc. - Class A Common Stock

COCH

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 0.5% on Wednesday.
The Dow traded up 0.18% to 39,241.00 while the NASDAQ rose 0.55% to 16,329.45. The S&amp;P 500 also rose, gaining, 0.39% to 5,226.17.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38066319/insiders-buying-walgreens-and-2-other-stocks"> Insiders Buying Walgreens And 2 Other Stocks</a>
&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Industrials shares jumped by 0.8% on Wednesday.
In trading on Wednesday, consumer staples shares fell by 0.9%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
The ISM services PMI declined to 51.4 in March compared to February&rsquo;s reading of 52.6 and compared to market estimates of 52.7.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Kintara Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktra#NASDAQ">KTRA</a>) shares shot up 43% to $0.1438 after the company entered a merger agreement with TuHURA Biosciences.
Shares of ARCA biopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abio#NASDAQ">ABIO</a>) got a boost, surging 79% to $3.0550 after the company and Oruka Therapeutics announced a merger agreement.
Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) shares were also up, gaining 41% to $5.51 after the company&#39;s Fanapt received FDA approval for the acute treatment of bipolar I disorder.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Casa Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casa#NASDAQ">CASA</a>) shares dropped 79% to $0.0549 after the Company filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court.
Shares of View, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/view#NASDAQ">VIEW</a>) were down 64% to $0.40 after the company filed for Chapter 11 bankruptcy. The company on Tuesday said it reached a real with Cantor Fitzgerald and RXR to become a private company.
Sintx Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sint#NASDAQ">SINT</a>) was down, falling 45% to $0.0230 after the company announced pricing of a $1.5 million public offering of common stock.
Also Check This Out:<a href="https://www.benzinga.com/news/earnings/24/04/38062892/how-to-earn-500-a-month-from-levi-strauss-stock-ahead-of-q1-earnings-report"> How To Earn $500 A Month From Levi Strauss Stock Ahead Of Q1 Earnings Report</a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded up 0.8% to $85.85 while gold traded up 1% at $2,303.60.
Silver traded up 4.1% to $26.975 on Wednesday, while copper rose 2.6% to $4.1745.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were mostly higher today. The eurozone&rsquo;s STOXX 600 rose 0.21%, London&rsquo;s FTSE 100 fell 0.12% while Spain&rsquo;s IBEX 35 Index rose 0.52% The German DAX rose 0.38% French CAC 40 rose 0.26% while Italy&rsquo;s FTSE MIB Index rose 0.28%.
The consumer price inflation rate in the eurozone eased to 2.4% year-over-year in March, compared to market expectations of 2.6%, while the unemployment rate in the eurozone came in at 6.5% in February, versus market estimates of 6.4%.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed lower on Wednesday, with Japan&rsquo;s Nikkei 225 falling 0.97%, Hong Kong&rsquo;s Hang Seng Index dipping 1.22%, China&rsquo;s Shanghai Composite Index falling 0.18% and India&rsquo;s S&amp;P BSE Sensex falling 0.1%.
Retail sales in Hong Kong climbed 0.5% year-over-year in February following a 1.2% decline in the prior month. The Caixin China General Services PMI rose to 52.7 in March from 52.5 in February, while composite PMI rose to 52.7 in March from 52.5 in the previous two months.
The au Jibun Bank Japan services PMI fell to 54.1 in March from a preliminary level 54.9, while composite PMI fell to 51.7 in March versus a flash reading of 52.3.
&nbsp;
<h3>Economics</h3>
&nbsp;
Mortgage applications in the U.S. declined by 0.6% on the week ending March 29, 2024.
Private businesses in the U.S. added 184,000 workers in March compared to a revised 155,000 gain in February, and topping market estimates of 148,000.
The S&amp;P Global composite PMI was revised lower to 52.1 in March from a preliminary reading of 52.2.
The ISM services PMI declined to 51.4 in March compared to February&rsquo;s reading of 52.6 and compared to market estimates of 52.7.
U.S. crude oil inventories increased by 3.21 million barrels in the week ended March 29, 2024, compared to market estimates of a 1.511 million decline, the EIA said.
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38066354/top-5-industrials-stocks-that-could-blast-off-this-quarter"> Top 5 Industrials Stocks That Could Blast Off This Quarter</a>

Crude Oil Moves Higher; ISM Services PMI Falls In March

Vanda Pharmaceuticals jumps 38% on Future Pak's latest buy offer

Biggest stock movers today: VNDA, UAL, JBHT, and more

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to dive into the biggest pre-market stock movers with all of the hottest news worth reading about on Wednesday!



Moving stocks this morning are earnings reports, acquisition plans, new drug data and more.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>INVO Bioscience (NASDAQ:<a href="https://investorplace.com/stock-quotes/invo-stock-quote/">INVO</a>) stock is rocketing more than 55% alongside its <a href="https://finance.yahoo.com/news/invo-reports-fourth-quarter-full-205900118.html">Q4 earnings report</a>.</li>



<li>Vanda Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/vnda-stock-quote/">VNDA</a>) shares are soaring over 38% on <a href="https://www.nasdaq.com/press-release/future-pak-confirms-proposal-to-acquire-vanda-pharmaceuticals-for-%247.25-to-%247.75-per">a firm acquisition proposal</a>.</li>



<li>VIA Optronics (NYSE:<a href="https://investorplace.com/stock-quotes/viao-stock-quote/">VIAO</a>) stock is surging more than 32% with heavy pre-market trading.</li>



<li>Clene (NASDAQ:<a href="https://investorplace.com/stock-quotes/clnn-stock-quote/">CLNN</a>) shares are rising over 26% on <a href="https://seekingalpha.com/news/4090283-clene-stock-rallies-post-market-on-ms-drug-data?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain%7Csection%3Aon-the-move">new drug data</a>.</li>



<li>Chromocell Therapeutics (NYSEMKT:<a href="https://investorplace.com/stock-quotes/chro-stock-quote/">CHRO</a>) stock is gaining more than 26% on an update to a <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318239123&amp;type=PDF&amp;symbol=CHRO&amp;cdn=722216dc7f57070dff83767fe9648f9d&amp;companyName=Chromocell+Therapeutics+Corporation&amp;formType=424B3&amp;formDescription=Prospectus+%5BRule+424%28b%29%283%29%5D&amp;dateFiled=2024-04-17">secondary stock offering</a>.</li>



<li>CXApp (NASDAQ:<a href="https://investorplace.com/stock-quotes/cxai-stock-quote/">CXAI</a>) shares are increasing over 26% with its <a href="https://www.marketwatch.com/story/cxapp-shares-rise-29-on-4q-2023-annual-recurring-revenue-growth-13f8abea">latest earnings report</a>.</li>



<li>Seelos Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/seel-stock-quote/">SEEL</a>) stock is climbing more than 24% without any clear news on Wednesday morning.</li>



<li>Mobile Global Esports (NASDAQ:<a href="https://investorplace.com/stock-quotes/mgam-stock-quote/">MGAM</a>) shares are getting a 22% boost as it <a href="https://investorplace.com/2024/04/why-is-mobile-global-esports-mgam-stock-down-18-today/">prepares for delisting</a>.</li>



<li>Gamer Pakistan (NASDAQ:<a href="https://investorplace.com/stock-quotes/gpak-stock-quote/">GPAK</a>) stock is jumping 21% despite a lack of news today.</li>



<li>Galera Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/grtx-stock-quote/">GRTX</a>) shares are up over 19% on a <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318238318&amp;type=PDF&amp;symbol=GRTX&amp;cdn=6788b7c94daccbdc9a6c5412e270d44c&amp;companyName=Galera+Therapeutics+Inc.&amp;formType=SC+13G&amp;formDescription=Statement+of+acquisition+of+beneficial+ownership+by+individuals&amp;dateFiled=2024-04-16">shareholder stake update</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Trilogy Metals (NYSEMKT:<a href="https://investorplace.com/stock-quotes/tmq-stock-quote/">TMQ</a>) stock is plummeting more than 22% <a href="https://www.nasdaq.com/press-release/trilogy-metals-provides-update-on-the-ambler-access-project-2024-04-17">following an update</a> to its Ambler Access Project.</li>



<li>Trio Petroleum (NYSEMKT:<a href="https://investorplace.com/stock-quotes/tpet-stock-quote/">TPET</a>) shares are diving over 20% after <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318239194&amp;type=PDF&amp;symbol=TPET&amp;cdn=fb7a5495a316777660288b1087458323&amp;companyName=Trio+Petroleum+Corp.&amp;formType=8-K&amp;formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-04-17">securing senior notes and a purchase agreement</a>.</li>



<li>Connexa Sports Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/yyai-stock-quote/">YYAI</a>) stock is tumbling more than 18% on Wednesday morning.</li>



<li>Destiny Tech100 (NYSE:<a href="https://investorplace.com/stock-quotes/dxyz-stock-quote/">DXYZ</a>) shares are taking a close to 18% beating following a rally yesterday.</li>



<li>Ontrak (NASDAQ:<a href="https://investorplace.com/stock-quotes/otrk-stock-quote/">OTRK</a>) stock is sliding over 16% with the release of its <a href="https://finance.yahoo.com/news/ontrak-announces-2023-fourth-quarter-200500612.html">Q4 2023 earnings report</a>.</li>



<li>Dragonfly Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/dfli-stock-quote/">DFLI</a>) shares are retreating more than 16% <a href="https://investorplace.com/2024/04/why-is-dragonfly-energy-dfli-stock-up-56-today/">after rallying yesterday</a>.</li>



<li>Dynatronics (NASDAQ:<a href="https://investorplace.com/stock-quotes/dynt-stock-quote/">DYNT</a>) stock is pulling back over 16% <a href="https://investorplace.com/2024/04/why-is-dynatronics-dynt-stock-up-93-today/">after rising on Tuesday</a>.</li>



<li>Ryvyl (NASDAQ:<a href="https://investorplace.com/stock-quotes/rvyl-stock-quote/">RVYL</a>) shares are still falling more than 15% despite <a href="https://www.nasdaq.com/press-release/ryvyl-inc.-announces-cancellation-of-proposed-underwritten-public-offering-2024-04-16">canceling a proposed public offering</a>.</li>



<li>Hub Cyber Security (NASDAQ:<a href="https://investorplace.com/stock-quotes/hubc-stock-quote/">HUBC</a>) stock is dropping over 14% <a href="https://investorplace.com/2024/04/why-is-hub-cyber-security-hubc-stock-up-35-today/">after a rally yesterday</a>.</li>



<li>iSun (NASDAQ:<a href="https://investorplace.com/stock-quotes/isun-stock-quote/">ISUN</a>) shares close out our pre-market stock movers down more than 13% <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318238741&amp;type=PDF&amp;symbol=ISUN&amp;cdn=82f25393dbc89b776256155c3f0856b7&amp;companyName=iSun+Inc.&amp;formType=10-K&amp;formDescription=Annual+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-04-16">on an investor update</a>.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/04/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-april-17th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Trilogy Metals&nbsp;(NYSEMKT:<a href="https://investorplace.com/stock-quotes/tmq-stock-quote/">TMQ</a>) stock is down on Wednesday after the company posted an update to its Ambler Access Project.



The big news here are reports that the Department of Interior is planning to <a href="https://www.aidea.org/Portals/0/PressReleases/4-16-2024%20AIDEA%20Urges%20Biden%20Administration%20to%20Follow%20Federal%20Law%20for%20Access%20to%20State%20Lands%20and%20Minerals.pdf">block the company&rsquo;s access</a> to Ambler Mining District. These reports claim that it would do so through a &ldquo;no action&rdquo; decision.



This has been met with pushback from the Alaska Industrial Development and Export Authority. It issued a press release yesterday calling on the Biden Administration to &ldquo;comply with federal law and the promises made at statehood to allow access to state lands and minerals for the Ambler Access Road Project.&rdquo;



The Ambler Access Project is a plan to create a 211-mile, industrial-use-only road that spans from Upper Kobuk Mineral Projects to the&nbsp;Dalton Highway. Its creation would allow for the advancement and development of the Ambler Mining District.



<h2>What This Means for TMQ Stock</h2>



Ambler Metals LLC, a joint venture between Trilogy Metals and South32 Limited, <a href="https://www.nasdaq.com/press-release/trilogy-metals-provides-update-on-the-ambler-access-project-2024-04-17">said the following</a> about the news.




&ldquo;We are stunned to hear reports that BLM may deny the&nbsp;Ambler Access Project, which received full federal approval four years ago. If true, this decision ignores the support of local communities for this project, while denying jobs for Alaskans and critical revenues for a region where youth are being forced to leave because of a lack of opportunity.&rdquo;




TMW stock is down 28.5% as of Wednesday morning.



Investors will find more of the most recent stock market stories ready to go below!



We are offering all of the hottest stock market coverage for Wednesday! A few examples include what&rsquo;s going on with shares of Vanda Pharmaceuticals&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/vnda-stock-quote/">VNDA</a>), INVO Bioscience&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/invo-stock-quote/">INVO</a>) as well as the biggest pre-market stock movers today. All of that info is readily available at the following links!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-vanda-pharmaceuticals-vnda-stock-up-34-today/">Why Is Vanda Pharmaceuticals (VNDA) Stock Up 34% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-invo-bioscience-invo-stock-up-85-today/">Why Is Invo Bioscience (INVO) Stock Up 85% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-april-17th/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Wednesday</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/04/why-is-trilogy-metals-tmq-stock-down-29-today/">Why Is Trilogy Metals (TMQ) Stock Down 29% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Trilogy Metals (TMQ) Stock Down 29% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Vanda Pharmaceuticals&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/vnda-stock-quote/">VNDA</a>) stock is rising higher on Wednesday after the biopharmaceutical company received a <a href="https://www.nasdaq.com/press-release/future-pak-confirms-proposal-to-acquire-vanda-pharmaceuticals-for-%247.25-to-%247.75-per">firm acquisition proposal</a> from Future Pak LLC.



Vanda Pharmaceuticals has received three proposals from Future Pak LLC to acquire the company since February. It&rsquo;s latest offer has it seeking to acquire all outstanding shares of the company for between $7.25&nbsp;to&nbsp;$7.75 each.



Vanda Pharmaceuticals says its Board of Directors is still considering this proposal. The offer represents a 79% to 91.4% premium over the closing price of VNDA stock on Tuesday.



Future Pak LLC is looking for support from VNDA investors for its acquisition of the company. That&rsquo;s why it&rsquo;s publicly sharing its offer price for the company&rsquo;s stock.



<h2>What&rsquo;s Next for VNDA Stock?</h2>



Future Pak LLC doesn&rsquo;t appear ready to walk away from a deal for Vanda Pharmaceuticals. Instead, the firm notes that open engagement with the company&rsquo;s leaders could result in additional benefits for shareholders.



Future Pak LLC notes this could include Contingent Value Rights or a potential increase in its offer price for VNDA stock. However, it claims that Vanda Pharmaceuticals has rejected negotiations with it.



VNDA stock is up 34.3% as of Wednesday morning with more than 3.5 million shares traded. That&rsquo;s well above its daily average trading volume of about 1.9 million shares.



We have more stock market stories traders will want to read about today.



Our coverage includes all of the hottest stock market news on Wednesday! Among that is what has shares of Invo Bioscience&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/invo-stock-quote/">INVO</a>) stock up, the biggest pre-market stock movers this morning and more. All of that info is available below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-invo-bioscience-invo-stock-up-85-today/">Why Is Invo Bioscience (INVO) Stock Up 85% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-april-17th/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Wednesday</a></li>



<li><a href="https://investorplace.com/2024/04/why-a-strong-q1-gdp-for-china-is-not-enough-to-lift-nio-stock-today/">Why a Strong Q1 GDP for China Is Not Enough to Lift NIO Stock Today</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/04/why-is-vanda-pharmaceuticals-vnda-stock-up-34-today/">Why Is Vanda Pharmaceuticals (VNDA) Stock Up 34% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Vanda Pharmaceuticals (VNDA) Stock Up 34% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Trio Petroleum&nbsp;(NYSEMKT:<a href="https://investorplace.com/stock-quotes/tpet-stock-quote/">TPET</a>) stock is falling on Wednesday after the oil and gas exploration and development company announced new financing agreements.



The first one announced by Trio Petroleum is a securities purchase agreement with an institutional investor. This saw it gain net proceeds of $310,000 from this investor. In exchange, the investor secured another 750,000 shares of TPET stock.



To go along with that, the institutional investor was granted piggy-back registration rights. That covers the resale of the Commitment Shares and the Conversion Shares.



Adding to this is Trio Petroleum issuing a Senior Secured Note to the institutional investor. This has a principal amount of $400,000 and the maturity date is Aug. 16, 2024. They can also take part in future financing for 18 months or until the Investor Note is repaid.



<h2>TPET Stock Movement on Wednesday</h2>



News of the securities purchase agreement and Senior Secured Note aren&rsquo;t going over well with traders today. As a result, the company&rsquo;s shares are down 21.6% as of Wednesday morning. However, the stock was up 52.5% year-to-date when markets closed yesterday.



With this news comes some 5.4 million shares of TPET stock changing hands. That&rsquo;s still well below its daily average trading volume of about 18.6 million shares.



Investors who are seeking out even more of the most recent stock market stories today are in luck!



We have all of the hottest stock market news that traders need to know about on Wednesday! That includes everything happening with shares of Trilogy Metals&nbsp;(NYSEMKT:<a href="https://investorplace.com/stock-quotes/tmq-stock-quote/">TMQ</a>) stock, Vanda Pharmaceuticals&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/vnda-stock-quote/">VNDA</a>) stock and Invo Bioscience&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/invo-stock-quote/">INVO</a>) stock today. You can read up on all of these matters by checking out the links below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-trilogy-metals-tmq-stock-down-29-today/">Why Is Trilogy Metals (TMQ) Stock Down 29% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-vanda-pharmaceuticals-vnda-stock-up-34-today/">Why Is Vanda Pharmaceuticals (VNDA) Stock Up 34% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-invo-bioscience-invo-stock-up-85-today/">Why Is Invo Bioscience (INVO) Stock Up 85% Today?</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	The post <a href="https://investorplace.com/2024/04/why-is-trio-petroleum-tpet-stock-down-22-today/">Why Is Trio Petroleum (TPET) Stock Down 22% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Trio Petroleum (TPET) Stock Down 22% Today?

Biggest stock movers today: ADSK, VNDA, UAL, JBHT, and more

Lexaria Bioscience, Biosig Technologies, BIMI Holdings among healthcare movers

Vanda under pressure from hedge fund to discuss Future Pak takeover offer

US Supreme Court reportedly declines to hear Vanda patent case

GPAK

LEXX

MGAM

PROK

RVYL

SEEL

YYAI

Press Releases

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Vanda Pharmaceutical Inc. - VNDA

Opinion

Thinking about buying stock in Intellicheck, Vanda Pharmaceuticals, Dave Inc, Invivyd, or Dream Finders Homes?

Vanda Pharmaceuticals' Fanapt® (iloperidone) Receives U.S. FDA Approval for the Acute Treatment of Bipolar I Disorder

Future Pak Confirms Proposal to Acquire Vanda Pharmaceuticals for $7.25 to $7.75 Per Share in Cash

Vanda Pharmaceuticals Confirms Rejection of Unsolicited Takeover Proposals from Future Pak

Vanda Pharmaceuticals Adopts Limited Duration Stockholder Rights Plan

Vanda Pharmaceuticals Reacts to U.S. Supreme Court's Denial of its Petition in HETLIOZ® ANDA Litigation

Shareholder Capital Delivers Letter to Independent Members of the Board of Vanda Pharmaceuticals