最新ニュース Vanda Pharma (NASDAQ:VNDA) 株価情報

Vanda Pharma

Vanda Pharmaceuticals Inc is a biopharmaceutical company engaged in the development and commercialization of therapies to address high unmet medical needs and improve the lives of patients. Its commercial portfolio comprises three products, HETLIOZ for the treatment of Non-24-Hour Sleep-Wake Disorder (Non-24) & nighttime sleep disturbances in Smith-Magenis Syndrome (SMS), Fanapt for the treatment of schizophrenia and PONVORY. Its other products include VHX-896, ASO Molecules, VQW-765, Tradipitant, VTR-297 and VHX-896. The majority of revenue is derived from HETLIOZ product sales.

Vanda Pharmaceuticals

Vanda Pharmaceuticals Inc. - Common Stock

Vanda Pharmaceuticals Inc

Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) reported quarterly losses of $(0.09) per share which beat the analyst consensus estimate of $(0.17) by 47.06 percent. The company reported quarterly sales of $47.651 million which missed the analyst consensus estimate of $49.155 million by 3.06 percent. This is a 22.76 percent increase over sales of $38.815 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

News

VNDA

Vanda Pharma Q3 2024 GAAP EPS $(0.09) Beats $(0.17) Estimate, Sales $47.651M Miss $49.155M Estimate

Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) raises FY2024 sales outlook from $180.00 million-210.00 million to $190.00 million-210.00 million.

Guidance

Vanda Pharma Raises FY2024 Sales Guidance from $180.00M-210.00M to $190.00M-210.00M

HC Wainwright initiated coverage on Vanda Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>), a commercial-stage biopharmaceutical firm primarily focusing on neurological and neuropsychiatry disorders.
HC Wainwright sees Vanda as having a well-established commercial portfolio, with multiple line extensions and life cycle management opportunities across its three key <a target="_blank" href="https://www.vandapharma.com/pipeline/" rel="noreferrer noopener">franchises</a>: Fanapt, Hetlioz, and Ponvory.
The analyst notes a pipeline of promising programs with numerous opportunities for significant clinical and regulatory milestones expected over the next 6 to 18 months.
Vanda trades at a nearly 30% discount to its cash reserves, giving it a negative enterprise value—a surprising valuation given its strong sales and projected profitability runway through late 2026, even if only some of its clinical and commercial projects succeed.
HC Wainwright initiates with a Buy rating with a <a target="_blank" href="https://www.benzinga.com/quote/VNDA/analyst-ratings" rel="noreferrer noopener">price target of $18</a>.
Vanda's value proposition, however, has been obscured by the ongoing generic competition within its sleep disorder portfolio centered around Hetlioz (tasimelteon) and a recent FDA Complete Response Letter (CRL) for <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/40941051/fda-strikes-off-vanda-pharmaceuticals-tradipitant-for-stomach-paralysis-asks-for-additional-studi" rel="noreferrer noopener">tradipitant in gastroparesis</a>, the analyst notes.
Hetlioz, while forecast to bring in about $75 million in 2024 sales, is assumed to decline post-2028; however, ongoing litigation could slow generic entry, and Vanda may expand tasimelteon's indications.
In October, Cycle Pharmaceuticals reaffirmed its proposal to acquire Vanda Pharmaceuticals for an all-cash consideration <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41311272/cycle-pharmaceuticals-reaffirms-all-cash-proposal-to-acquire-vanda-pharmaceuticals-for-8-00-per-sh" rel="noreferrer noopener">of $8.00 per share</a>.
However, Vanda declined to accept the offer.
Earlier this year, Future Pak withdrew its&nbsp;proposal to <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39530573/whats-going-on-with-vanda-pharmaceuticals-shares-today" rel="noreferrer noopener">purchase the company</a>.
The analyst says past M&amp;A offers indicate that Vanda is intrinsically undervalued and may become an attractive M&amp;A target for one or more mid-size pharmaceutical firms if its near—and medium-term pipeline and product portfolio initiatives are successful.
"Given the negative enterprise value at which Vanda trades despite the continued traction of its marketed products and the risk-mitigated nature of its pipeline and LCM initiatives, we find it difficult to visualize substantial downside risk from current levels," HC Wainwright says.
Price Action: VNDA stock is up 0.87% at $4.69 at the last check on Friday.
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Analyst Color

Biotech

Health Care

Price Target

Initiation

Analyst Ratings

Trading Ideas

General

Over 200% Stock Upside - Vanda Pharmaceuticals Undervalued With Robust Portfolio And Pipeline: Analyst

HC Wainwright &amp; Co. analyst Raghuram Selvaraju initiates coverage on Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) with a Buy rating and announces Price Target of $18.

HC Wainwright & Co. Initiates Coverage On Vanda Pharma with Buy Rating, Announces Price Target of $18

Board Has Determined That Latest Proposal Is Not in the Best Interests of the Company or Stockholders
WASHINGTON, Oct. 14, 2024 /PRNewswire/ -- Vanda Pharmaceuticals Inc. ("Vanda" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) today confirmed that it received a second unsolicited, non-binding proposal from Cycle Group Holdings Ltd. ("Cycle Group") to acquire the Company for $8.00 per share in cash.
Cycle Group's second proposal was received by&nbsp;Vanda&nbsp;on&nbsp;September 23, 2024.&nbsp;The terms of Cycle Group's proposal are economically identical to the previously evaluated and rejected indication of interest received from Cycle Group on May 24, 2024. Consistent with its fiduciary duties and in consultation with its independent legal and financial advisors, Vanda's Board of Directors carefully reviewed the second proposal and unanimously determined that it substantially undervalues Vanda and is not in the best interests of the Company and its stockholders. Accordingly, the Board has determined not to pursue the proposal.
The Vanda Board again evaluated all aspects of Vanda's business and compared Vanda's prospects for creating stockholder value to the unsolicited proposal. The Board concluded that the latest proposal from Cycle Group is another opportunistic attempt to purchase the Company's shares at a discount to Vanda's intrinsic value. As part of this process, the Board updated its analysis of the Company's clinical development pipeline, expanding commercial presence and significant cash balance.
The Board and management team remain confident that Vanda's growth profile, strong cash position and efficient operations position the Company well for significant long-term value creation far in excess of the consideration offered by Cycle Group.
There is no action for stockholders to take at this time.

Management

Vanda Pharmaceuticals Confirms Receipt Of Unsolicited $8.00 Per Share Acquisition Proposal From Cycle Group, Board Declares It Not In Best Interests Of Company Or Stockholders

WIIM

Vanda Pharmaceuticals shares are trading higher after Cycle Pharmaceuticals reaffirmed its proposal to acquire the company for $8.00 per share in cash.

Cycle Pharmaceuticals Reaffirms Proposal To Acquire Vanda Pharmaceuticals For $8.00 Per Share In Cash

Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) announced that the FDA issued a complete response letter&nbsp;to its new drug application (NDA) seeking approval for its pipeline candidate, tradipitant for the treatment of symptoms in gastroparesis.
Shares of the company were down 6.1% on Sept. 19 following the announcement of the news.
Marked by delayed gastric emptying, gastroparesis is a serious condition that slows down the stomach&#39;s ability to empty its contents. The FDA has not approved any effective medicine for treating gastroparesis in more than 40 years.
Year to date, shares of Vanda have increased 10.2% compared with the industry&#39;s rise of 0.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4a/78570.jpg?v=840412258" />
Image Source: Zacks Investment Research
<h2>More on FDA&#39;s CRL for VNDA&#39;s Tradipitant</h2>
Per the CRL, the FDA called for Vanda to conduct additional studies on tradipitant with a design that was inconsistent with the advice of key experts in the field and not appropriate based on the scientific understanding of the disease.
Also, per management, the FDA delayed its decision by more than 185 days and failed to meet the requirements specified by the Food Drug and Cosmetic Act (FDCA).
Notably, the FDCA requires that the FDA review an NDA and provide either an approval or a possible hearing within 180 days of the filing. The FDA failed to do either.
Per the company, it had time and again asked the FDA to hold an advisory committee meeting to discuss the NDA for tradipitant while the regulatory body declined.
Several patients treated with tradipitant have now filed a Citizen Petition pleading with the regulatory body to approve tradipitant for the treatment of gastroparesis.
<h2>VNDA&#39;s Development Plans for Tradipitant</h2>
Despite the FDA declining to approve tradipitant for treating symptoms in gastroparesis, the company will continue to pursue the marketing approval for tradipitant in the given indication.
Apart from gastroparesis, VNDA is also developing tradipitant for preventing vomiting induced by motion sickness.
In May 2024, the company announced positive data from a second phase III study that investigated tradipitant for preventing vomiting induced by motion sickness.
Vanda plans to submit an NDA for tradipitant to the FDA for the treatment of motion sickness later in 2024.
<h2>Zacks Rank &amp; Stocks to Consider</h2>
Vanda currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the biotech sector are Illumina, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ilmn#NASDAQ">ILMN</a>), Krystal Biotech, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krys#NASDAQ">KRYS</a>) and Fulcrum Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fulc#NASDAQ">FULC</a>), each sporting a Zacks Rank #1 (Strong Buy) at present.
In the past 60 days, estimates for Illumina&#39;s 2024 earnings per share have moved up from $1.84 to $3.63. Earnings per share estimates for 2025 have improved from $3.22 to $4.43. Year to date, shares of ILMN have lost 3.5%.
ILMN&#39;s earnings beat estimates in each of the trailing four quarters, with the average surprise being 463.46%.
In the past 60 days, estimates for Krystal Biotech&#39;s 2024 earnings per share have increased from $2.09 to $2.38. Earnings per share estimates for 2025 have improved from $4.33 to $7.31. Year to date, shares of KRYS have risen 48.7%.
KRYS&#39; earnings beat estimates in three of the trailing four quarters while missing on the remaining occasion, with the average surprise being 45.95%.
In the past 60 days, estimates for Fulcrum Therapeutics&#39; 2024 loss per share have narrowed from $1.33 to 28 cents. Loss per share estimates for 2025 have narrowed from $1.71 to $1.14. Year to date, shares of FULC have plunged 48.9%.
FULC&#39;s earnings beat estimates in each of the trailing four quarters, with the average surprise being 393.18%.
<a href="https://www.zacks.com/stock/news/2339326/vnda-stock-down-as-fda-rejects-nda-for-tradipitant-in-gastroparesis?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2339326">To read this article on Zacks.com click here.</a>

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ILMN

KRYS

VNDA Stock Down as FDA Rejects NDA for Tradipitant in Gastroparesis

<a href="https://www.globenewswire.com/Tracker?data=kXC5zwQobnwJ5tuHPOAJ6PRRMWtoTywyxfs_zeap6YEYFsLA5wSyuoSjT52Uy9zuGU9Ty-L3lVzkhL5ffGzpYbCcDhWpxxnFV7goFgHCYRQ=">Evoke Pharma, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVOK#NASDAQ">EVOK</a>), a specialty pharmaceutical company focused primarily on treatments for gastrointestinal (GI) diseases with an emphasis on Gimoti&#xAE;&nbsp;(metoclopramide) nasal spray, reaffirms its commitment to improving the lives of patients suffering from diabetic gastroparesis in light of the recent decision by the U.S. Food and Drug Administration (FDA) to not approve Vanda Pharmaceuticals new drug application (NDA) for Tradipitant, an oral drug candidate for the treatment of symptoms in gastroparesis. Patients suffering from all forms of gastroparesis need additional agents to help treat this difficult disease, and we believe patients will be disappointed given the FDA's decision. Evoke continues to serve as a trusted partner for healthcare professionals and patients alike with its proven product, Gimoti&#xAE; (metoclopramide), the first and only FDA-approved nasal spray treatment for acute and recurrent diabetic gastroparesis in adults.

EVOK

Evoke Pharma Reaffirms Its Commitment To Improving The Lives Of Patients Suffering From Diabetic Gastroparesis In Light Of The Recent Decision By The U.S. FDA To Not Approve Vanda Pharmaceuticals NDA For Tradipitant, An Oral Drug Candidate For The Treatment Of Symptoms In Gastroparesis

Thursday,&nbsp;the FDA declined to approve Vanda Pharmaceuticals Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>)&nbsp;New Drug Application (NDA) of tradipitant for symptoms in gastroparesis, providing Vanda with a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40935243/fda-declines-to-approve-vandas-marketing-application-for-tradipitant-in-gastroparesis" rel="noreferrer noopener">Complete Response Letter (CRL)</a>.
Gastroparesis (means&nbsp;paralysis of the stomach) is&nbsp;a condition that slows down the stomach&#8217;s ability to empty its contents.
It is associated with severe nausea, vomiting, and difficulty finishing a normal meal.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39530573/whats-going-on-with-vanda-pharmaceuticals-shares-today" rel="noreferrer noopener">What&#8217;s Going On With Vanda Pharmaceuticals Shares Today?</a>
The FDA has approved no effective treatment in over 40 years.
Vanda&#8217;s tradipitant application included evidence from two placebo-controlled studies, the results of which were published in peer-reviewed journals.
The&nbsp;CRL was conclusory in nature. It generally disregarded the evidence provided and instead suggested that Vanda conduct additional studies with a design and duration inconsistent with the advice of key experts in the field and not appropriate based on the scientific understanding and natural course of the disorder.&nbsp;
Furthermore, the FDA&#8217;s action was delayed by more than 185 days and failed to satisfy the Food Drug and Cosmetic Act (FDCA) requirements.
The FDCA requires that the FDA review a new drug application and provide either an approval or an opportunity for a hearing within 180 days of submission. In this case, the FDA failed to do either.
Despite the FDA&#8217;s disappointing action,&nbsp;Vanda believes that the tradipitant application has met the substantial evidence of efficacy standard and has a favorable benefit-risk profile for gastroparesis patients.&nbsp;
While Vanda has repeatedly requested that the FDA convene an expert advisory committee to review the application and advise the Commissioner on its approvability, the FDA has refused to do so.
The company added that several patients currently treated with tradipitant have filed a Citizen Petition urging the FDA to approve tradipitant for gastroparesis.
Vanda will continue to pursue the marketing authorization for tradipitant and support the expanded access program.
Vanda plans to submit a separate NDA for tradipitant to prevent vomiting in motion sickness later this year.
Price Action: VNDA stock is down 7.68% at $4.57 at the last check on Thursday.
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</ul>

Movers

FDA Strikes Off Vanda Pharmaceuticals' Tradipitant For Stomach Paralysis, Asks For Additional Studies

The FDA Declined To Approve Vanda's New Drug Application Of Tradipitant For The Treatment Of Symptoms In Gastroparesis, Providing Vanda With A Complete Response Letter

Cantor Fitzgerald analyst Charles Duncan maintains Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) with a Overweight and raises the price target from $11 to $13.

Cantor Fitzgerald Maintains Overweight on Vanda Pharma, Raises Price Target to $13

Vanda Pharmaceuticals Reinstates Guidance; Sees FY24 Total Revenues $180M-$210M

Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) reported quarterly losses of $(0.08) per share which beat the analyst consensus estimate of $(0.21) by 61.9 percent. The company reported quarterly sales of $50.474 million which beat the analyst consensus estimate of $47.860 million by 5.46 percent. This is a 9.59 percent increase over sales of $46.056 million the same period last year.

Vanda Pharma Q2 2024 GAAP EPS $(0.08) Beats $(0.21) Estimate, Sales $50.474M Beat $47.860M Estimate

Cantor Fitzgerald analyst Charles Duncan initiates coverage on Vanda Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) with a Overweight rating and announces Price Target of $11.

Cantor Fitzgerald Initiates Coverage On Vanda Pharma with Overweight Rating, Announces Price Target of $11

Legal

TEVA

US District Court For The District Of Delaware Orders Vanda's HETLIOZ Patent Lawsuit Against Teva And Apotex May Proceed

Vanda Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) shares are trading lower after Future Pak withdrew its<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> proposal to purchase the company</a>.
&#8220;Consistent with the position indicated in its June 13, 2024 letter to Vanda Pharmaceuticals, Future Pak LLC and its affiliates today announced that it is withdrawing its offer to acquire the company, effective immediately, and will focus on other strategic objectives,&#8221; <a target="_blank" href="https://www.businesswire.com/news/home/20240626659970/en/" rel="noreferrer noopener">according </a>to a statement.
This decision follows Vanda&#8217;s ongoing lack of response and their rejection of Future Pak&#8217;s final proposal.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, VNDA stock has lost over 9% in the past year. Investors can gain exposure to the stock via&nbsp;Invesco NASDAQ Future Gen 200 ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQS#NASDAQ">QQQS</a>).
In a recent press release, Vanda mentioned that the takeover proposals from Future Pak and&nbsp;Cycle Group substantially undervalued the company.
Vanda&nbsp;highlighted that the unsolicited proposal from Cycle Group for&nbsp;$8.00&nbsp;per share and the revised unsolicited proposal from Future Pak to acquire Vanda for&nbsp;$8.50-$9.00&nbsp;per share are not in the best interests of the company and its shareholders. &#8220;Accordingly, the Board has rejected the proposals,&#8221; the company said then.
Earlier in April, Vanda rejected Future Pak&#8217;s $7.25 – $7.75 per share offer, saying it significantly&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38297329/neuropsychiatric-focused-vanda-pharmaceuticals-rejects-future-paks-takeover-bid-valued-up-to-7-75" rel="noreferrer noopener">undervalued the company</a>.
In April, the FDA approved&nbsp;Vanda Pharmaceuticals&#8217; Fanapt (iloperidone) tablets for the acute treatment of manic or mixed episodes associated with&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38068029/why-is-vanda-pharmaceuticals-stock-trading-higher-today" rel="noreferrer noopener">bipolar I disorder in adults</a>.&nbsp;
Price Action: VNDA shares are trading lower by 1.92% to $5.865 at last check Thursday.
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Photo via Shutterstock

Equities

QQQS

What's Going On With Vanda Pharmaceuticals Shares Today?

Vanda Pharmaceuticals Inc. shares are trading lower after Future Pak withdrew its proposal to purchase the company.

Future Pak Late Wednesday Announced The Withdrawal Of Its Proposal To Purchase Vanda Pharmaceuticals Inc.

Shares of Jabil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBL#NYSE">JBL</a>) fell sharply during Thursday's session <a href="https://www.benzinga.com/news/earnings/24/06/39411910/jabil-tops-q3-estimates-ceo-highlights-strategic-growth-in-ai-datacenters-and-ev-markets">following third-quarter results</a>.
Jabil reported third-quarter fiscal 2024 revenue of $6.77 billion, down by 20.2% year-on-year, beating the analyst consensus estimate of $6.53 billion. The print manufacturing company's adjusted EPS of $1.89 beat the analyst consensus of $1.85, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Jabil said it expects fourth-quarter revenue of $6.3 billion – $6.9 billion (consensus: $6.8 billion) and adjusted EPS to $2.03 – $2.43 (consensus: $2.22).
Jabil shares dipped 7.8% to $116.37 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>MGO Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGOL#NASDAQ">MGOL</a>) shares jumped 222.8% to $1.48 after the company said it expects the pending acquisition of Spetner Associates to close in the second half of 2024, projecting it to increase annualized revenue to approximately $28 million.</li>
<li>Griid Infrastructure Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRDI#NASDAQ">GRDI</a>) climbed 89.3% to $1.48 after falling more than 10% on Tuesday.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) gained 89% to $2.58 after the company said it expects first customer deliveries of the i300 in the fourth quarter and anticipates selling over 5,000 units in the fiscal year ending September 30, 2025.</li>
<li>Reliance Global Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELI#NASDAQ">RELI</a>) shares climbed 60.5% to $0.6279. Reliance Global Group announced major enhancement of capital structure following cashless exercise of warrants.</li>
<li>Allurion Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALUR#NYSE">ALUR</a>) gained 50% to $1.598. Allurion announced publication of new data demonstrating lean mass gains in patients experiencing 14% weight loss.</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMX#NASDAQ">SMX</a>) rose 43% to $0.1702 after jumping 19% on Tuesday.</li>
<li>Soluna Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNH#NASDAQ">SLNH</a>) gained 23.3% to $5.96.</li>
<li>Femasys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEMY#NASDAQ">FEMY</a>) rose 22% to $1.1650 after receiving CE Mark approval from the EU MDR for its FemaSeed, FemVue, FemCerv, and FemCath products.</li>
<li>Molecular Partners AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOLN#NASDAQ">MOLN</a>) shares rose 21.1% to $9.63 after gaining 9% on Tuesday.</li>
<li>Surf Air Mobility Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRFM#NASDAQ">SRFM</a>) jumped 20.6% to $0.3850.</li>
<li>ToughBuilt Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBLT#NASDAQ">TBLT</a>) gained 20.2% to $3.75.</li>
<li>MicroCloud Hologram Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLO#NASDAQ">HOLO</a>) surged 19.7% to $1.1303. MicroCloud Hologram entered into convertible note purchase agreements with investors for $28 million on June 18.</li>
<li>Presto Automation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRST#NASDAQ">PRST</a>) shares climbed 19.2% to $0.0877after falling around 5% on Tuesday.</li>
<li>NanoViricides, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNVC#NASDAQ">NNVC</a>) gained 16.5% to $1.91. Nanoviricides reported that the ultra-broad-spectrum antiviral NV-387, a Phase 2 Stage drug candidate, was found to be effective in protecting lungs from damage in a lethally infected influenza H3N2 mouse model.</li>
<li>Lobo EV Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOBO#NASDAQ">LOBO</a>) rose 16.4% to $2.47.</li>
<li>Ocular Therapeutix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUL#NASDAQ">OCUL</a>) gained 16% to $6.36 after TD Cowen upgraded the stock from Hold to Buy and raised its price target from $7 to $11.</li>
<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) jumped 15.3% to $5.95.</li>
<li>Ranpak Holdings Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PACK#NYSE">PACK</a>) climbed 13.7% to $6.49.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) rose 13.6% to $7.08 after the company announced insurance coverage of ANKTIVA across multiple states with first commercial doses administered.</li>
<li>Harrow, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HROW#NASDAQ">HROW</a>) gained 12.2% to $19.81 after the company announced the manufacture of the first of three commercial-scale process performance qualification batches of TRIESENCE 40 mg/mL. Also the company announced that the second and third required PPQ batches are now scheduled.</li>
<li>ZKH Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZKH#NYSE">ZKH</a>) rose 11.4% to $3.92</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) gained 11.3% to $12.91.</li>
<li>Himax Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIMX#NASDAQ">HIMX</a>) jumped 11.1% to $8.23</li>
<li>UTime Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTO#NASDAQ">WTO</a>) surged 11% to $0.5849</li>
<li>Nexalin Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXL#NASDAQ">NXL</a>) gained 10% to $1.1450. Nexalin Technology shares jumped around 38% on Tuesday after the company was awarded a US patent on &#8216;Transcranial alternating current dynamic frequency stimulation (TACS) method for Alzheimers and Dementia.&#8217;</li>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) shares climbed 7.8% to $17.45. On Tuesday, JP Morgan analyst Daniel Chen upgraded Bilibili from Neutral to Overweight and announced a $21 price target.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) gained 7% to $982.60 after Elon Musk indicated the company will provide server racks for the supercomputer that xAI is building.</li>
<li>Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) rose 5% to $162.36.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Trevena, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRVN#NASDAQ">TRVN</a>) fell 43.7% to $0.1993. Trevena announced preclinical TRV045 data for long-term analgestic effect in prelinical model of neuropathic pain. Also, the company announced TRV045 results provided director for additional NIH-initiated studies in epilepsy prevention and treatment.</li>
<li>Kaival Brands Innovations Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KAVL#NASDAQ">KAVL</a>) shares declined 33.5% to $2.99 after gaining 8% on Tuesday.</li>
<li>Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONN#NASDAQ">SONN</a>) fell 29% to $1.10. Sonnet BioTherapeutics announced exercise of warrants for gross proceeds of $3.4 million.</li>
<li>Tempest Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPST#NASDAQ">TPST</a>) declined 25% to $2.1208. The company announced new data from the ongoing Phase 1b/2 clinical study on amezalpat2 (TPST-1120).</li>
<li>Nikola Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) declined 23.6% to $0.3672. Nikola announced 1-for-30 reverse stock split approved by board.</li>
<li>La Rosa Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRHC#NASDAQ">LRHC</a>) shares fell 23.5% to $1.37. La Rosa Holdings shares jumped 72% on Tuesday after the company entered a non-binding letter of intent to acquire a controlling interest in Red Door Title.</li>
<li>SYLA Technologies Co., Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYT#NASDAQ">SYT</a>) dipped 21.7% to $1.70.</li>
<li>Mustang Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) shares dipped 21% to $0.6721 after the company announced a $2.5 million registered direct offering of 6.130 million shares at $0.41 per share.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) fell 20.9% to $72.55.</li>
<li>NLS Pharmaceutics AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NLSP#NASDAQ">NLSP</a>) tumbled 20.3% to $0.1910 after jumping 82% on Tuesday.</li>
<li>DermTech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMTK#NASDAQ">DMTK</a>) fell 19.4% to $0.1176.</li>
<li>Dunxin Financial Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXF#NASDAQ">DXF</a>) shares fell 19.4% to $0.1728 after dipping 17% on Tuesday.</li>
<li>Tempus AI, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) fell 15.1% to $25.76 amid post-IPO volatility.</li>
<li>Esperion Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESPR#NASDAQ">ESPR</a>) declined 15% to $2.2991 after B of A Securities downgraded the stock from Neutral to Underperform.</li>
<li>SRIVARU Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVMH#NASDAQ">SVMH</a>) shares fell 13.7% to $0.2150. SRIVARU, last week, announced it will begin accepting paid reservations and bookings for its flagship product, the PRANA 2.0, on June 16th.</li>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) fell 12.2% to $1.8602. Actelis Networks shares jumped 84% on Tuesday after the company announced an agreement to serve as Carahsoft&#8217;s public sector distributor.</li>
<li>Jasper Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JSPR#NASDAQ">JSPR</a>) declined 10.1% to $20.84. Jasper Therapeutics announced appointment of Svetlana Lucas Ph.D., to its Board of Directors.</li>
<li>GMS Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMS#NYSE">GMS</a>) declined 6.5% to $84.02 after the company reported mixed fourth-quarter financial results.</li>
<li>Nayax Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NYAX#NASDAQ">NYAX</a>) fell 6.1% to $21.23.</li>
<li>Vanda Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VNDA#NASDAQ">VNDA</a>) fell 5% to $6.03 after the company&#8217;s board determined that recent takeover proposals were not in its best interests.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39411935/this-skyworks-solutions-analyst-turns-bullish-here-are-top-5-upgrades-for-thursday">This Skyworks Solutions Analyst Turns Bullish; Here Are Top 5 Upgrades For Thursday</a>

Intraday Update

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MicroCloud Hologram Inc. - Ordinary Shares

HOLO

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Jasper Therapeutics, Inc. - Class A Common Stock

JSPR

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Tempest Therapeutics, Inc. - Common Stock

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Press Releases

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Cycle Pharmaceuticals Reaffirms All-Cash Proposal to Acquire Vanda Pharmaceuticals for $8.00 Per Share

Vanda Pharmaceuticals Confirms Receipt of Economically Identical Unsolicited, Non-Binding Proposal from Cycle Group Holdings Ltd.

Vanda Pharmaceuticals to Announce Third Quarter 2024 Financial Results on November 6, 2024

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Vanda Pharmaceuticals Announces Participation at November 2024 Investor Conferences

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