U.S. stock futures were higher this morning, with the Dow futures gaining more than 300 points on Monday.
Shares of Cassava Sciences, Inc. SAVA fell sharply in today's pre-market trading after the company announced Simufilam did not show a significant reduction in cognitive or functional decline versus placebo in patients with mild-to-moderate Alzheimer’s disease in the ReThink-ALZ Phase 3 study.
Cassava Sciences shares dipped 85.6% to $3.82 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
- Centessa Pharmaceuticals PLC – ADR CNTA shares tumbled 12% to $15.00 in pre-market trading after falling 6% on Friday. On Nov. 12, Centessa Pharmaceuticals reported a quarterly loss of 37 cents per share.
- Biohaven Ltd. BHVN fell 11% to $40.60 in pre-market trading after the company announced its treatment arm of the RESILIENT SMA study did not statistically separate on the primary outcome at Week 48 compared to the placebo+standard of care group.
- ZIM Integrated Shipping Services Ltd. ZIM shares dipped 6.9% to $22.15 in pre-market trading. ZIM Integrated Shipping Services, last week, reported better-than-expected third-quarter financial results and raised its FY24 adjusted EBIT and EBITDA guidance.
- i3 Verticals, Inc. IIIV shares declined 6.6% to $22.11 in pre-market trading. The company, last week, posted downbeat quarterly results.
- ChromaDex Corporation CDXC fell 5.9% to $7.00 in pre-market trading.
- Fitell Corporation FTEL shares declined 4.9% to $24.00 in pre-market trading after gaining around 6% on Friday.
- Logility Supply Chain Solutions, Inc. LGTY fell 4.4% to $9.31 in pre-market trading. Logility Supply Chain Solutions shares dipped 13% on Friday after the company reported worse-than-expected second-quarter revenue results and issued FY25 revenue guidance below estimates.
- Kingsoft Cloud Holdings Limited KC fell 4.3% to $6.90 in today's pre-market trading after jumping around 25% on Friday. Kingsoft Cloud, last week, reported a fiscal third-quarter 2024 revenue of 1.89 billion Chinese yuan ($268.7 million), up by 16.0% year-on-year, beating the analyst consensus estimate of $247.46 million
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