My Take: CATC got a nice little bump out of this news, but the stock wasn't doing well beforehand. I would imagine most of the upside from this deal is already priced in.
Exscientia [EXAI] - Last Close: $5.06
Exscientia just landed a new collaborative partnership.
This morning, the company announced a new drug discovery collaboration with Merck KGaA to develop caner, neuroinflammatory, and immunology drugs.
The research will heavily leverage Exscientia's artificial intelligence technology.
In exchange, Exscientia will get $20 million cash upfront, plus up to $674 million in potential milestone payments.
The collaboration will initially focus on three targets, but the companies have plans to expand it into other disease areas over time.
EXAI is one of today's top-performing premarket stocks with a 27.6% gain.
My Take: EXAI has struggled as of late. It's down nearly 50% from its recent peak, but this news could provide the shot in the arm it needs to pivot.
Blue Jay Diagnostics [BJDX] - Last Close: $3.10
An analyst upgrade is lifting shares of Blue Jay Diagnostics.
Earlier this week, analysis at Refinitiv/Verus upgraded BJDX from "sell" to "hold."
Blue Jay has struggled as of late. At the beginning of August, it was trading for upwards of $7.50.
However, shares are rebounding suddenly in the premarket. BJDX is up 13.2%.
My Take: BJDX could be in rebound mode, but I am not seeing the trading volume spike I'd expect for a stock that's preparing to pivot. There could be opportunity here, but I am not sold we've hit bottom just yet.
Fresh Tracks Therapeutics [FRTX] - Last Close: $0.5829
Fresh Tracks is up after an announcement.
Late Tuesday, the biotech said its board had approved a plan for the liquidation and dissolution of the company.
Fresh Tracks intends to distribute all remaining cash to shareholders. It will host a shareholder meeting in Q4 for a final vote on the matter.
The company expects to make liquidating distributions to shareholders ranging from $5 million to $7 million.
FRTX is one of today's top stocks with a 52.6% gain.
My Take: Well, sounds like FRTX is closing up its doors, so it's definitely not a long-term play. But, there could be short-term opportunities for savvy swing traders.
