Gritstone Oncology (NASDAQ:GRTS) shares moved higher Friday after the company reported a successful initial public offering which raised capital to fund its operations while its new immunotherapy gained regulatory approval in its third-quarter report.
In October 2018, the company completed its initial public offering (IPO), raising $95.6 million in net proceeds, and commenced trading on the Nasdaq Global Select Market.
The US Food and Drug Administration (FDA) accepted the company’s Investigational New Drug (IND) application for GRANITE-001, a personalized immunotherapy which kicked off its Phase 1/2 clinical study.
Shares of Gritstone rose almost 4.7% to $32.56 near mid-session on Friday.
Shares of technology services company SecureWorks Corp (NASDAQ:SCWX) fell despite reporting solid third-quarter results as the overall weakness of the tech sector kept its stock on the defensive.
The company said third-quarter fiscal 2019 results showed revenue rising 13.6% over fiscal 2018 to $133.1 million, including 51% growth year-over-year internationally.
The company has added industry leaders CrowdStrike and Carbon Black to its Red Cloak Partner Program. But the technology selloff which began in October kept SecureWorks on the defensive.
SecureWorks shares declined 8.3% to $15.68.
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Big Lots Inc (NYSE:BIG) shares tumbled after the discount retailer reported results that came in worse-than-expected.
The company said its net loss for the 13 weeks ended November 3 was $6.6 million, or $0.16 per diluted share, compared with net income of $4.4 million, or $0.10 per share, a year earlier.
The stock has dropped 28% year to date through Thursday, while the SPDR S&P Retail ETF has shed only 0.4% and the S&P 500 has gained 0.8%.
Big Lots stock retreated 23.3% to $30.93.
Viveve Medical Inc (NASDAQ:VIVE) shares crumbled after the company announced the pricing of a public offering of its common stock.
The public offering of 13,333,334 shares of its common stock was priced at $1.50 per share.
The offer price is at nearly a discount of 19.4% to Thursday's closing price of $1.86.
Viveve shares were down almost 31.2% to $1.28.
Contact Rene Pastor by rene.pastor@proactiveinvestors.com