Biotech breakthroughs and energy asset sales have these stocks soaring

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Here are some of our top movers today. And don’t forget to join us in Market Masters for pre-market scans at 9AM EST daily with Jeff Williams 🔥. Be the best prepared trader on the Street!

FOCUS LIST🔎

SPRO - Up over 200% in the pre-market after announcing PIVOT-PO Phase 3 Study with GSK for Tebipenem HBr stopped early for efficacy following review by independent data monitoring committee

VERU - Up over 13% in pre after announcing positive safety results from Phase 2b QUALITY Study: Enobosarm added to Semaglutide led to greater fat loss

BROG - Up over 70% in pre after announcing proposed sale of BPGIC FZE and BPGIC Phase III FZE

HOTLIST🔥

SPRO - Up over 200% in the pre-market after announcing PIVOT-PO Phase 3 Study with GSK for Tebipenem HBr stopped early for efficacy following review by independent data monitoring committee

Spero Therapeutics Inc. (SPRO) is a clinical-stage biopharmaceutical company that focuses on identifying and developing novel treatments for multi-drug resistant (MDR) bacterial infections and rare diseases in the United States.

In the pre-market this morning, the company announced that the pivotal Phase 3 PIVOT-PO trial evaluating tebipenem HBr, an investigational oral treatment for complicated urinary tract infections (cUTIs), including pyelonephritis, met its primary endpoint and will stop early for efficacy (NCT06059846).3 The decision follows a recommendation from an Independent Data Monitoring Committee (IDMC) that completed a pre-specified interim analysis of data from 1,690 patients enrolled in the trial.

The trial met the primary endpoint of non-inferiority of tebipenem HBr compared to intravenous imipenem-cilastatin in hospitalized adult patients with cUTI, including pyelonephritis, on overall response (composite of clinical cure plus microbiological eradication) at the test-of-cure visit. 

The IDMC review did not identify any new safety concerns beyond what has been reported in other studies with tebipenem, with diarrhea and headache as the two most reported adverse events. 

GSK plans to work with US regulatory authorities to include the data as part of a filing in 2H 2025. Full results will be submitted for presentation at an upcoming scientific congress and for publication in a peer-reviewed journal. 

If approved, tebipenem HBr could be the first oral carbapenem antibiotic for US patients with complicated urinary tract infections (cUTIs)

An estimated 2.9 million cases of cUTIs are treated annually in the US1 with many cases requiring hospitalization, contributing to over $6 billion per year in healthcare costs

Shares of SPRO traded up over 200% in the pre-market in reaction to the news.

The first target for bulls is the pre-market high at $2.93. Beyond that, $3, $3.18, $4, $4.50, $5 and $5.50 come into play.

Below $2.93, targets to the downside are $2.50, $2, $1.50, $1, $0.80 and then a gap fill at $0.6820.

VERU - Up over 13% in pre after announcing positive safety results from Phase 2b QUALITY Study: Enobosarm added to Semaglutide led to greater fat loss

Veru Inc. (VERU) is a late clinical stage biopharmaceutical company that focuses on developing medicines for treatment of metabolic diseases, oncology, and viral-induced acute respiratory distress syndrome (ARDS).

In the pre-market this morning, the company announced positive topline safety results from the Phase 2b QUALITY clinical study, a multicenter, double-blind, placebo-controlled, randomized, dose-finding clinical trial, designed to evaluate the safety and efficacy of enobosarm 3mg, enobosarm 6mg, or placebo as a treatment to enhance fat loss and to prevent muscle loss in older patients (≥60 years of age) receiving semaglutide (Wegovy®) for chronic weight management. 

Enobosarm added to Semaglutide led to greater fat loss, preservation of muscle, and fewer gastrointestinal side effects compared to Semaglutide alone.

 Shares of VERU traded up over 13% in the pre-market in reaction to the news.

The $0.55 area acted as support in the pre-market and will be an important level to watch. 

Above it, targets to the upside are $0.60, $0.65, $0.70, $0.75 and then the pre-market high at $0.78.

Below $0.55, targets to the downside are $0.53, a gap fill at $0.5090 and then $0.45 below that.

BROG - Up over 70% in pre after announcing proposed sale of BPGIC FZE and BPGIC Phase III FZE

Brooge Energy Limited (BROG) is a Cayman Islands-based infrastructure provider, which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services

In the after-hours yesterday, the company announced entering into a conditional sale and purchase agreement for the proposed sale of 100% of the total issued share capital of each of Brooge Petroleum and Gas Investments Company FZE and Brooge Petroleum and Gas Investment Company Phase III FZE to Gulf Navigation Holding PJSC. 

The total consideration payable under the Transaction amounts to USD $884 million (AED 3,245,000,000). 

BEL's Board of Directors commented, 

"We are pleased to be nearing the closing of our strategic transaction with GulfNav. After careful diligence by both parties, we have outlined the proposed terms and conditions the Board believes is in the best interest of ensuring long-term value creation for our shareholders."

Shares of BROG traded up over 70% in the pre-market in reaction to the news.

The $4.60 area acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $5.50, $6, $6.36, $6.50 and then the after-hours high at $7.68. Beyond that, $8 and $10 come into play.

Below $4.60 targets to the downside are $4, a gap fill at $3.19 and then $3.

MARKET NEWS 📰