UroGen Pharma Up 37% On Phase 3 Trials Meeting Endpoints

Overstock.com Jumps 20% As Q2 Results Beat Street

Shares of Overstock.com, Inc. (OSTK) are up 20% on Thursday after the company reported second-quarter results, with both earnings and revenues beating Street estimates.

OSTK is trading on the Nasdaq at $37.56, up 20.79% or $6.47 per share. It has traded between $17.05 and $39.00 in the past 52-week period.

The company reported a net loss of $73.49 million or $1.63 per share for the quarter, compared to the income of $7.15 million or $0.12 per share the prior year.

On an adjusted basis, it reported a loss of $790 thousand or $0.02 per share. It beat the average estimated loss of $0.09 per share polled by Thomson Reuters analysts.

The company exceeded the estimated revenue of $409.69 million, despite a decrease from $528.12 million to $422.11 million compared to the previous year.

European Economic News Preview: ECB Monetary Policy Announcement Due

The European Central Bank is slated to announce its monetary policy decision later today after the U.S. Federal Reserve hiked its benchmark rate by a quarter-point on Wednesday.

Markets widely expect the ECB to raise the main refi rate again by 25 basis points, to 4.25 percent. The outcome of the governing council meeting held in Frankfurt is due at 8.15 am ET.

ECB Chief Christine Lagarde is likely to repeat that the interest rates are set to remain high for an extended period.

Consumer sentiment from Germany and Italy are the other major economic reports due on Thursday.

At 2.00 am ET, the market research group Gfk is scheduled to issue Germany’s consumer confidence survey data. The forward-looking sentiment index is seen at -24.7 in August, up from -25.4 in July.

At 3.00 am ET, Spain’s statistical office INE releases retail sales and unemployment data. Sales are expected to grow 0.6 percent annually but much weaker than the 6.0 percent rise in May. The jobless rate is forecast to fall to 13.00 percent in the second quarter from 13.26 percent in the first quarter.

At 4.00 am ET, Italy’s ISTAT publishes business and consumer confidence survey results. The consumer confidence index is seen falling to 107.8 in July from 108.6 in the previous month. The business sentiment index is expected to drop to 99.8 from 100.3 a month ago.

At 6.00 am ET, the Confederation of British Industry is set to publish Distributive Trades survey results.

Nutriband Gains 12% On Launching AI Tape Brand

Shares of Nutriband Inc. (NTRB) are gaining 12% on Thursday after the company announced the launch of its consumer sports recovery tape brand, Active Intelligence AI Tape (AI Tape).

NTRB is trading on the Nasdaq at $4.56, up 12.87% or $0.52 per share. It has traded between $1.92 and $6.98 in the past 52-week period.

The company said that the AI Tape is designed by combining kinesiology tape benefits with therapeutic ingredients held in suspension with a proprietary adhesive mix, and will be available for purchase on Amazon and Activeintell.com.

Femasys Gains 144% On Securing Notice Of Allowance By USPTO For FemBloc

Shares of Femasys Inc. (FEMY) gains 144% on Thursday after the company announced that a Notice of Allowance for their U.S. patent application 16/402,193 has been issued by the USPTO, reinforcing Femasys’ intellectual property position and coverage for their therapeutic product candidate, FemBloc for permanent birth control.

FEMY is trading on the Nasdaq at $0.88, up 144.47% or $0.52 per share. It has traded between $0.31 and $2.20 in the past 52-week period.

The company expects the resulting patent, when issued, will have an anticipated expiration in 2039 at the earliest.

Tradeweb Up 8% As Q2 Results Beat Street

Shares of Tradeweb Markets Inc. (TW) are up 8% on Thursday after the company reported second-quarter results, with both earnings and revenues beating Street estimates.

TW is trading on the Nasdaq at $80.86, up 8.35% or $6.23 per share. It has traded between $51.47 and $81.23 in the past 52-week period.

The company reported net income of $101.94 million or $0.42 per share for the quarter, an increase from last year’s profit of $81.60 million or $0.33 per share.

On an adjusted basis, it reported an income of $123.75 million or $0.52 per share, compared to the income of $111.66 million or $0.47 per share the prior year. It beat the average estimate of $0.50 per share polled by Thomson Reuters analysts.

Revenue increased to $310.61 million from $297.14 million the previous year and beat the consensus estimate of $306.07 million.

UroGen Pharma Up 37% On Phase 3 Trials Meeting Endpoints

Shares of UroGen Pharma Ltd. (URGN) are up 37% on Thursday after the company announced that the data collected from its phase 3 trials, namely ATLAS and ENVISION, which studied intravesical solutions for patients with LG-IR-NMIBC using UGN-102, have successfully met their primary endpoints.

Additionally, the company has announced a $120 million private placement of 12.6 million shares at a purchase price of $9.54 per share.

URGN is trading on the Nasdaq at $12.38, up 37.40% or $3.37 per share. It has traded between $6.87 and $16.11 in the past 52-week period.

The company stated that the ATLAS trial, involving UGN-102, successfully achieved its main goal of increasing disease-free survival and reducing the risk of recurrence, progression, or death by 55%. While the ENVISION trial demonstrated that patients who received UGN-102 had a 79.2% rate of complete response three months after the initial treatment, meeting its primary endpoint.

The company also said that the $120 million Private Placement is expected to close on or about July 28, 2023 subject to the satisfaction of customary closing conditions.