Pre-market Movers In Healthcare Sector: RGLS, ASMB, GBT, ONCT…

(RTTNews) - What's moving these stocks in the pre-market hours today?

In the Green

1. Regulus Therapeutics Inc. (RGLS) is up over 8% at $0.53 in pre-market hours Friday, following its financial results for the third quarter ended September 30, 2020 and a corporate update. Revenue was $5.0 million for Q3, 2020 compared to less than $0.1 million in the year-ago quarter. Revenue in the recent third quarter is attributable to the completion of transfer and verification of certain materials to Sanofi under the August 2020 amendment. A phase Ib clinical study for RGLS4326 in patients with autosomal dominant polycystic kidney disease (ADPKD) in up to three cohorts is underway, with results from the first cohort expected by the end of Q1 2021.

In the Red

1. Assembly Biosciences Inc. (ASMB) is down over 37% at $9.95 in pre-market hours today, following news that its phase II open-label extension study of Vebicorvir in combination with standard-of-care nucleos(t)ide analog reverse transcriptase inhibitor (NrtI) in patients with Chronic Hepatitis B Virus Infection did not achieve a meaningful rate of sustained virologic response.

2. Global Blood Therapeutics, Inc. (GBT) is down over 28% at $43.35 in pre-market trading Friday. The company reported financial results for the third quarter ended September 30, 2020, yesterday after the bell. Total net product sales for the third quarter of 2020 was $36.9 million, resulting from sales of Oxbryta, compared to nil product sales in the third quarter of 2019. Net loss for Q3, 2020, narrowed to $59.88 million or $0.97 per share from $64.55 million or $1.07 per share in the year-ago quarter. However, the results came in below Wall Street analysts' estimates.

3. Oncternal Therapeutics Inc. (ONCT) is down over 10% in pre-market hours today, giving back some of what it gained yesterday. ONCT was up over 122% yesterday on news of Merck acquiring privately-held VelosBio for $2.75 billion. Velosbio was spun out of Oncternal Therapeutics in 2017.

VelosBio's lead investigational candidate is VLS-101, an antibody-drug conjugate (ADC) targeting ROR1 for the treatment of patients with hematologic malignancies and solid tumors in phase I and phase II trials of testing. Oncternal's lead drug candidate Cirmtuzumab is also a monoclonal antibody designed to inhibit the ROR1 pathway. A Phase 1/2 clinical trial of Cirmtuzumab in combination with ibrutinib for the treatment of patients with mantle cell lymphoma (MCL) and chronic lymphocytic leukemia (CLL) and in an investigator-sponsored, Phase 1b clinical trial of Cirmtuzumab in combination with paclitaxel for the treatment of women with HER2-negative metastatic or locally advanced, unresectable breast cancer are ongoing.