By Alex Ramsay, Co-founder
In the dynamic world of pre-market trading, three companies have emerged as significant gainers, making waves with substantial percentage increases. Helius Medical Technologies (HSDT), 89bio, Inc. (ETNB), and Aadi Bioscience, Inc. (AADI) have reported noteworthy developments, contributing to their impressive pre-market gains.
1. Helius Medical Technologies, Inc. (HSDT): +48.25%
CMS Recognition for PoNS Therapy® Milestone
Helius Medical Technologies has experienced a remarkable surge of 48.25%, driven by a pivotal announcement regarding its PoNS Therapy®. The Centers for Medicare & Medicaid Services (CMS) has assigned Healthcare Common Procedure Coding System (HCPCS) Level II codes to describe the PoNS controller and mouthpiece, marking a critical reimbursement and access milestone.
Helius President and CEO, Dane Andreeff, expressed enthusiasm about the recognition, emphasizing the life-changing benefits of PoNS Therapy® for those suffering from gait impairment due to MS. The establishment of HCPCS codes positions the company for reimbursement negotiations with third-party payers, with potential implementation on October 1, 2024.
2. 89bio, Inc. (ETNB): +38.67%
Strategic Advances and Financial Strength
89bio has reported an impressive gain of 38.67%, accompanied by positive financial results for the fourth quarter and full year 2023. CEO Rohan Palekar highlighted the advancements made in late-stage clinical development programs, emphasizing the potential of pegozafermin as a best-in-class FGF21.
The Phase 2b ENLIVEN data and long-term efficacy results over a 48-week period position pegozafermin as a promising therapeutic option. As the company focuses on executing planned Phase 3 trials in NASH and the ongoing Phase 3 trial in SHTG, 89bio stands out as a key player in the pursuit of innovative medical solutions.
3. Aadi Bioscience, Inc. (AADI): +36.98%
Long-term Efficacy and Safety Data for FYARRO®
Aadi Bioscience has soared by 36.98% following the publication of long-term efficacy and safety data supporting FYARRO® for the treatment of malignant PEComa. The Phase 2 registrational AMPECT study showcased promising outcomes, with responses lasting a median of 39.7 months.
Dr. Andrew J. Wagner, Senior Physician at the Dana-Farber Cancer Institute, expressed excitement about the durable responses to nab-sirolimus, providing positive news for patients with this rare disease. Aadi Bioscience’s commitment to advancing therapeutic options for challenging conditions positions it as a significant player in the biopharmaceutical space.
In conclusion, the pre-market gainers, Helius Medical Technologies, 89bio, Inc., and Aadi Bioscience, Inc., have captured the attention of investors with their notable achievements. As we continue to unravel the intricacies of these developments, stay tuned for our in-depth analysis in the upcoming Krypton Street Newsletter.
