My Take: PLTR has been trading sideways for the past three months, but this unxpected profit could help it break into a new trading range.
ClearOne [CLRO] - Last Close: $1.24
A big announcement is boosting shares of ClearOne.
Late Monday, the videoconferencing company announced a special one-time cash dividend of $1 per share, payable to shareholders of record on May 22nd.
ClearOne said the dividend will be paid on May 31st.
The company cited "successful legal settlements" that have "generated surplus cash for the company" as the reason for the special, one-time payment.
CLRO is trading actively with a 66.3% gain on the news.
My Take: This is a one-time dividend play, so shares of CLRO could pullback immediately after the dividend is paid out. Don't try to get cute with this one or you could get burned.
ERYTECH Pharma SA [ERYP] - Last Close: $0.80
Erytech Pharma is on the rise after a business update.
The France-based biopharma firm released a business and financial update for Q1 early this morning.
The report touched on several points, including the company's financial position and the progress of a previously announced merger with Pherecydes.
A shareholder vote on the merger is expected to occur in June 2023.
The company also provided new details on a hostile takeover attempt from Akkadian Partners, which the firm is pushing back against.
ERYP is up 61.2% on active premarket trading volume in response to the update.
My Take: I'm not sure which part of this report cause the rally in ERYP, but there were certainly some interesting details revealed. I think the merger is the driving force behind the move, so the shareholder meeting in June could be worth watching.
Synlogic [SYBX] - Last Close: $0.56
An FDA decision is giving Synlogic a big boost in today's premarket.
This morning, the sythentic biotech firm announced the FDA had awarded an Orphan Drug Designation (ODD) to SYNB1934 to treat phenylketonuria (PKU).
A Synlogic rep said the decision came at a "pivotal time," as the company is currently preparing to initiate Phase 3 trials of SYNB1934 for PKU patients.
The ODD designation entitles Synlogic to tax credits for clinical trials, user fee exemptions, seven years of market exclusivity, and other perks.
SYBX is up 25.7% on the heels of the news.
My Take:The ODD could be the prelude to an eventual approval, and SYBX is currently trading near its 52-week low. This could be a promising swing trade setup, especially if SYNB1934 gets full approval.
