It was a weak Wednesday for the small-cap indices with the Russell 2000 and the S&P 600 seeing minimal gains.
Biotech Cara Therapeutics Inc (NASDAQ:CARA) was a top gainer following a licensing deal for its drug Korsuva, an injectable used to treat itching as a result of kidney dialysis. The Connecticut-based company reached an agreement with Vifor Frenius Medical Care Renal Pharma, the largest provider of kidney dialysis in the United States. Shares of the company surged more than 27% to US$14.76.
READ: Cara Therapeutics shares pop on a lucrative licensing deal for its drug Korsuva
Payment technology service USA Technologies Inc (NASDAQ:USAT) shares jumped double digits after announcing pricing of a public offering. The company, which provides the tech behind cashless and mobile transactions, will offer more than 5.4 million shares at US$11 per share. USA Technologies expects to raise as much as US%59.76mln Shares of the Pennsylvania-based company were up more than 10% to US$13.03.
Casual dining chain Red Robin Gourmet Burgers Inc (NASDAQ:RRGB) was a top decliner after missing earnings expectations in its first-quarter results. The company reported adjusted earnings of US$0.69 per share on revenue of US$421.5mln versus analyst estimates of US$0.76 EPS on revenue of US$427mln. Shares of the Colorado-based company fell nearly 18% to US$47.65.
Cosmetics company Revlon Inc (NYSE:REV) will be led by a female CEO for the first time since it was founded in over 85 years ago. Debra Perelman, the current chief operating office, will head the long-time beauty trendsetter. Shares of the New York-based company were down more than 4% to US$18.05.