Why Nemaura, iBio And Cocrystal Are Moving Wednesday

Nemaura Medical Inc. NMRD, iBio, Inc. IBIO and Cocrystal Pharma, Inc. COCP are among the healthcare movers Wednesday.

Nemaura Rallies On Receipt of Orders: Nemaura, a medtech company developing and commercializing non-invasive wearable diagnostic devices and supporting personalized lifestyle coaching programs, announced the receipt of purchase orders for 5,000 sugarBEAT transmitters and 200,000 sugarBEAT sensors from its U.K. licensee DB Ethitronix.

Nemaura expects an additional rolling monthly purchase order for the next 24 months of 15,000 transmitters and 2.1 million sensors, with an option to increase volumes based on customer response.

sugarBEAT, a CE mark approved Class IIb medical device, is a non-invasive and flexible continuous glucose monitor, providing actionable insights derived from real-time glucose measurements and daily glucose trend data.

The stock was gaining 40.85% to $6.62.

iBio Gains On Favorable Legal Verdict: Bryan, a biotech company and a biologics contract manufacturing organization, said it resolved its lawsuit with Fraunhofer USA, which confirms iBio's ownership of certain intellectual property related to plant-based biopharmaceutical production.
iBio said, as part of the settlement, it granted Fraunhofer a fully paid-up license to use the recombinant protein manufacturing technologies that were the subject of litigation. The settlement provides for iBio receiving an initial payment, covering a significant portion of its legal fees and expenses, with additional cash payments forthcoming in March 2022 and March 2023.

iBio shares were advancing 29.07% to $1.66.

Related Link: Attention Biotech Investors: Mark Your Calendar For May PDUFA Dates

Cocrystal Pulls Back On Stock Offering: Cocrystal, which jumped about 73% Tuesday due to the momentum imparted by an announcement regarding its COVID-19 program on Monday, is giving back some gains Wednesday.

The weakness comes on the back of the company entering into an underwriting agreement with H.C. Wainwright & Co, under which the latter has agreed to purchase 26 million shares of the company, at a price of $1.54 per share.

Cocrystal was last seen slipping 32.31% to $1.449.