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Here are some of our top movers today. And don’t forget to join us in Market Masters – the hottest trading room around 🔥. Be the best prepared trader on the Street!
FOCUS LIST🔎
TVGN – Up over 100% in the pre-market after announcing plans to share $1b+ revenue potential of its pipeline portfolio beginning week of October 14, 2024
IVA – Up over 80% in pre after announcing financing of up to €348 million to advance the NATiV3 Phase 3 MASH study
RILY – Up over 20% in pre after announcing partnership with Oaktree in the Great American Group businesses
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HOTLIST🔥
TVGN – Up over 100% in the pre-market after announcing plans to share $1b+ revenue potential of its pipeline portfolio beginning week of October 14, 2024
Tevogen Bio Holdings Inc. (TVGN) operates as a clinical-stage specialty immunotherapy company that develops off-the-shelf precision T cell therapies for the treatment of infectious diseases, cancers, and neurological disorders.
Late Friday, the company announced plans to share its $1B+ revenue potential, a reflection of the company’s novel business approach.
Its pipeline includes:
TVGN 489 Treatment of SARS-CoV-2 infection in patients with B cell hematologic cancer and treatment of long COVID
TVGN 920: Cervical cancer prevention
TVGN 930: EBV-associated lymphomas
TVGN 960: Mouth and throat cancer
TVGN 601: Multiple sclerosis
The stock traded up over 100% in the pre-market in reaction to the news.
The $0.70 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $0.80, $0.85, $0.90, $1 and then the after-hours high at $1.10. Beyond that, $1.48 and $1.79 come into play.
Below $0.70, targets to the downside are $0.60, $0.50, $0.40 and then a gap fill at $0.3796.
IVA – Up over 80% in pre after announcing financing of up to €348 million to advance the NATiV3 Phase 3 MASH study
Inventiva S.A. (IVA) is a clinical-stage biopharmaceutical company that focuses on the development of oral small molecule therapies for the treatment of non-alcoholic steatohepatitis (NASH) and other diseases.
In the pre-market this morning, the company announced that it had secured €94.1 million of a multi-tranche equity financing of up to €348 million, subject to satisfaction of specified conditions, from both new and existing investors, and up to $30 million in milestone payments relating to equity financing pursuant to amendment to license and collaboration agreement with CTTQ.
(i) the issuance , through a capital increase without preferential subscription rights reserved to a specific category of beneficiaries , of an aggregate of €94.1 million through the issuance of 34,600,507 new ordinary shares of the Company, par value €0.01 per share (the “T1 New Shares”) at a price of €1.35 per T1 New Share, and 35,399,481 prefunded warrants to purchase ordinary shares in the Company at an exercise price of €0.01 per new ordinary share, each giving the right, in the event of exercise, to one new ordinary share (the “T1 BSAs”), subject to the satisfaction of customary closing conditions;
The stock traded up over 80% in the pre-market in reaction to the news.
The $2.90 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $3.50, $3.70, $3.85, $4.84 and then the pre-market high at $5.20.
Below $2.90, targets to the downside are $2.80, $2.50, $2.10 and then a gap fill at $1.89.
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RILY – Up over 20% in pre after announcing partnership with Oaktree in the Great American Group businesses
B. Riley Financial Inc. (RILY) through its subsidiaries, provides financial services to corporate, institutional, and high net worth clients in North America and internationally.
In the pre-market this morning, the company announced that it has signed a definitive agreement with Oaktree Capital Management, L.P. to establish a partnership in Great American Holdings, LLC, a newly formed holding company.
At the closing of the transaction, B. Riley will receive total consideration consisting of approximately $203 million in cash, subject to certain purchase price adjustments, Class B Preferred Units of Great American NewCo with an initial aggregate liquidation preference of approximately $183 million, and Class A Common Units of NewCo representing approximately 47% of the total outstanding common units.
Oaktree will acquire Class A Preferred Units of Great American NewCo with an initial liquidation preference of approximately $203 million, as well as Class A Common Units representing approximately 53% of the aggregate amount of the issued and outstanding Class A Common Units of Great American NewCo, in exchange for cash consideration of approximately $203 million (the “Proposed Transaction”), implying a total enterprise value for the Great American NewCo of $386 million.
Shares of RILY traded up over 20% in the pre-market in reaction to the news.
The $4.80 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $5, $5.40, $5.80, $6 and then the pre-market high at $6.19. Beyond that, $6.50 and $6.75 come into play.
Below $4.80, targets to the downside are $4.60 and then a gap fill at $4.39.
MARKET NEWS 📰
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