ADVFN US – Market Content Editor

A new report from the Labor Department on Wednesday revealed that U.S. producer prices fell slightly in August, contrary to economists’ expectations. The decline was largely driven by a notable drop in trade service costs. The department reported that the producer price index (PPI) for final demand decreased 0.1% in August, following a revised gain…

U.S. stock futures pointed higher Wednesday, suggesting the major indexes could continue the upward momentum seen in the previous session. The gains followed the release of Labor Department data showing a modest decline in producer prices for August, surprising economists who had expected a slight increase. The producer price index for final demand edged down…

Shares of Greenwich LifeSciences (NASDAQ:GLSI) jumped 26% in premarket trading on Wednesday following news that the company’s breast cancer therapy received an important regulatory milestone. The biotech firm said its GLSI-100 treatment earned “fast track” designation from the U.S. Food and Drug Administration (FDA). “This designation is designed to accelerate the development and review process…

PMV Pharmaceuticals (NASDAQ:PMVP) stock surged 16% after the company released encouraging interim results from its Phase 2 PYNNACLE trial, evaluating rezatapopt in patients with various solid tumors carrying the TP53 Y220C mutation. The precision oncology study showed a 33% overall response rate among 97 evaluable patients across eight tumor types, with a median response duration…

Joby Aviation, Inc. (NYSE:JOBY) saw its stock climb 7.5% after announcing plans to integrate Blade’s air mobility services into the Uber app as early as next year. The move extends Joby’s strategic partnership with Uber Technologies, Inc. (NYSE:UBER) and comes on the heels of its recent acquisition of Blade’s passenger operations. Through the integration, Uber…

Avidity Biosciences (NASDAQ:RNA) gained 2% on Wednesday after releasing fresh clinical data showing that its experimental therapy del-zota reversed disease progression in patients with Duchenne muscular dystrophy (DMD44). The San Diego-based biotech said that patients who received del-zota continuously for about one year in the EXPLORE44 and EXPLORE44-OLE studies experienced “unprecedented improvement” across several functional…

Chewy, Inc. (NYSE:CHWY) saw its shares sink more than 7% on Wednesday after reporting second-quarter earnings that came in line with Wall Street forecasts and a modest revenue beat, but failed to deliver the upside investors had been hoping for. The online pet retailer reported adjusted EPS of $0.33, matching analyst estimates, while revenue reached…

CAMP4 Therapeutics Corporation (NASDAQ:CAMP) saw its stock skyrocket 200% after announcing an oversubscribed private placement that could raise up to $100 million to support its lead program targeting SYNGAP1-related disorders. The biotech firm has already raised $50 million upfront through sales of common stock at $1.53 per share and pre-funded warrants. An additional $50 million…

NIO Inc. (NYSE:NIO) shares tumbled 8.3% in premarket trading Wednesday after the Chinese EV manufacturer unveiled plans for a sizable equity raise. The Shanghai-based company said it will issue roughly 182 million Class A ordinary shares, with underwriters granted a 30-day option to purchase up to 27 million additional depositary receipts. NIO said it plans…

Amylyx Pharmaceuticals (NASDAQ:AMLX) saw its shares retreat more than 4% in premarket trading Wednesday following the announcement of a new equity raise. The Cambridge, Massachusetts-based biotech priced a follow-on offering of 17.5 million shares at $10 apiece, marking a 4.9% discount to Tuesday’s closing price. The sale brings in roughly $175 million in gross proceeds.…