Fly Intel: Pre-market Movers
HIGHER: Dova Pharmaceuticals (DOVA), up 39% after entering into an agreement and plan of merger with Swedish Orphan Biovitrum, or Sobi. Under the terms of the agreement, an indirect subsidiary of Sobi will commence a tender offer for all outstanding shares of Dova, whereby Dova stockholders will be offered an upfront payment for $27.50 per share in cash, along with one non-tradeable contingent value right that entitles them to an additional $1.50 per share in cash upon regulatory approval of DOPTELET... Bed Bath & Beyond (BBBY), up 7% after Wedbush analyst Seth Basham upgraded the stock to Outperform from Neutral and raised his price target for the shares to $16 from $14. Bed Bath & Beyond has a "good chance of stabilization" in earnings over the next two years as its changes take hold, Basham tells investors... Calithera Biosciences (CALA), up 9% after presenting new data from the investigational oral arginase inhibitor INCB001158 as a monotherapy and in combination with the checkpoint inhibitor pembrolizumab in microsatellite stable colorectal carcinoma patients... Mallinckrodt (MNK), up 5% after executing a definitive settlement agreement and release with Cuyahoga and Summit Counties in Ohio in connection with lawsuits pending in multidistrict opioid litigation in the U.S. District Court for the Northern District of Ohio... Colony Capital (CLNY), up 3% after entering into definitive agreements for Blackstone Real Estate Partners IX to acquire Colony Industrial, the industrial real estate assets and affiliated industrial operating platform of Colony Capital, for an aggregate purchase price of $5.9B. LOWER: Immunomedics (IMMU), down 7.5% after presenting interim data from the 100-patient cohort of cisplatin-eligible patients of the company's TROPHY-U-01 open-label Phase 2 study. In this interim report, sacituzumab govitecan produced an overall response rate of 29% in 35 patients with metastatic urothelial cancer who have relapsed or are refractory to immune checkpoint inhibitors and platinum-based chemotherapy... Teekay LNG (TGP) and Teekay Corp. (TK), down 7% and 5%, respectively, after postponing their group investor day.