Crude Oil Rises Sharply; Impel Pharmaceuticals Shares Spike Higher
Portfolio Pulse from Lisa Levin
U.S. stocks traded lower with the Dow Jones dropping over 50 points. Communication services shares jumped by 1.4% while materials shares fell by 2.1%. U.S. factory orders rose 0.3% month-over-month for May. C4 Therapeutics, Impel Pharmaceuticals, and Allarity Therapeutics saw their shares rise after positive news, while 1847 Holdings, Amneal Pharmaceuticals, and AXT, Inc. saw their shares drop. Oil traded up 2.9% to $71.82.
July 05, 2023 | 4:41 pm
News sentiment analysis
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NEGATIVE IMPACT
Amneal Pharmaceuticals shares dropped 15% after the company received FDA complete response letter for its IPX203 new drug application for Parkinson's disease.
The FDA complete response letter for Amneal Pharmaceuticals' new drug application could lead to delays in the approval process, which could negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
AXT, Inc. shares dropped 17% after the company said its subsidiary in China expects to seek permits to export gallium and germanium substrate products.
The announcement by AXT, Inc. about seeking export permits in China could lead to uncertainty about the company's future operations, which could negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
1847 Holdings shares dropped 31% after the company reported pricing of $1.869 million public offering.
The pricing of 1847 Holdings' public offering could lead to dilution of existing shares, which could negatively impact the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Allarity Therapeutics shares rose 62% after the company reported potential for improved clinical benefit in DRP-selected metastatic breast cancer patients.
The positive initial data from Allarity Therapeutics' Phase 2 trial could lead to increased investor confidence and a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
C4 Therapeutics shares rose 17% after the FDA cleared its investigational new drug application for CFT8919.
The FDA clearance for C4 Therapeutics' new drug application is a positive development for the company, which could lead to increased investor confidence and a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Impel Pharmaceuticals shares rose 31% after the company received a US patent for respiratory tract delivery of levodopa and DOPA decarboxylase inhibitor for Parkinson's disease.
The US patent for Impel Pharmaceuticals' Parkinson's disease treatment is a significant milestone for the company, which could boost investor confidence and lead to a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100