Clearside Biomedical Inc (NASDAQ:CLSD) shot up after announcing positive top-line results from a pivotal Phase 3 trial of eye disease treatment, suprachoroidal CLS-TA.
The late-stage biopharmaceutical company that is developing drug therapies to treat back-of-the-eye diseases, said that of the 160 patients enrolled in its PEACHTREE trial of patients with macular edema associated with non-infectious uveitis, 47% of patients who received suprachoroidal CLS-TA every 12 weeks gained at least 15 letters in best corrected visual acuity (BCVA) from baseline at week 24 of the study.
Further, in terms of improvements in BCVA, the mean change from baseline was better among those receiving the drug than among those receiving a placebo.
Shares in Clearside were up 54.2% at US$12.06 in pre-market trade.
The Wall Street Journal reports that online retailing behemoth Amazon.com Inc (NASDAQ:AMZN) is mulling partnerships with Wall Street’s top banks in order to provide Amazon-branded bank accounts.
Shares in digital wireless communications technology firm Qualcomm Inc (NASDAQ:QCOM) were down 1.7% ahead of the bell on Monday morning after a US national security agency ordered it to on Sunday delay its annual shareholder meeting.
Qualcomm is embroiled in fending off a hostile bid from rival Broadcom while it is also trying to land Dutch outfit NXP Semiconductors.
READ Qualcomm seeks knockout blow as it raises NXP Semiconductors bid
The Committee on Foreign Investment in the United States (CFIUS) asked Qualcomm to postpone the annual meeting and election of directors by 30 days.
“This measure will afford CFIUS the ability to investigate fully Broadcom’s proposed acquisition of Qualcomm,” a statement from the US Department of the Treasury said.
Broadcom Ltd’s (NASDAQ:AVGO) stock was down 32 cents at US$250.55.
Arcus Biosciences Inc, a clinical-stage biopharmaceutical company focused on creating cancer immunotherapies, said it is planning to raise around US$99.4mln through the issue of 7.1mln shares, priced somewhere between US$13 and US$15 when it floats on the New York Stock Exchange.
In other flotation news, Bridgewater Bancshares unveiled plans to raise US$54.7mln through its initial public offering (IPO).
The financial services holding company expects to price its shares between US$10.50 and US$12.50 in the IPO.
Indexes expected to open lower
Spread betting quotes were indicating that the Dow Jones average would open at around 24,486, after closing at 24,538 on Friday, down 71 points.
The S&P 500, which on Friday rose 13.6 to 2,691.3, was expected to open at around 2,683.