The U.S. stock market experienced a surge on Monday, with the Dow Jones Industrial Average closing over 400 points higher. This positive trend was fueled by encouraging news from several companies, leading to significant gains for their shares.
One of the standout performers was Terns Pharmaceuticals, Inc. (TERN). The company announced positive top-line data from its Phase 1 trial for TERN-601, a potential new treatment for obesity. The trial, a randomized, double-blind, placebo-controlled study, evaluated the safety, tolerability, pharmacokinetics, and pharmacodynamics of TERN-601 in healthy adults with obesity or overweight. This positive news sent Terns Pharmaceuticals shares soaring by 20.2% to $9.38 on Monday.
Other companies that experienced significant stock gains on Monday include:
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Summit Therapeutics Inc. (SMMT):
The company’s shares skyrocketed by 45.2% to $17.82 after announcing that its lung cancer candidate has outperformed Merck’s multi-billion dollar Keytruda in clinical trials. Summit Therapeutics’ candidate has demonstrated the ability to cut the risk of disease or death by half, a significant achievement in the fight against lung cancer.*
Relay Therapeutics, Inc. (RLAY):
The company’s shares surged by 41% to $8.80 following the release of interim data for its breast cancer treatment. The promising data indicates a positive trajectory for Relay Therapeutics’ breast cancer treatment, raising investor confidence.*
ADMA Biologics, Inc. (ADMA):
The company’s shares climbed 16.5% to $18.95 after it was announced that ADMA Biologics would join the S&P SmallCap 600 index. This inclusion signifies a positive recognition of the company’s performance and growth potential.*
Emerald Holding, In c. (EEX):
The company’s shares gained 15% to $6.16.*
Stardust Power Inc. (SDST):
The company’s shares climbed 14% to $7.90.*
SunOpta Inc. (STKL):
The company’s shares gained 13.4% to $6.36.*
Mercer International Inc. (MERC):
The company’s shares rose 12.8% to $6.41. However, Mercer International will be replaced by Adient in the S&P SmallCap 600.*
Zurn Elkay Water Solutions Corporation (ZWS):
The company’s shares gained 12.6% to $33.46.*
Applied Digital Corporation (APLD):
The company’s shares jumped 11.8% to $5.09. Needham analyst John Todaro reiterated Applied Digital with a Buy rating and maintained a price target of $11.*
Palantir Technologies Inc. (PLTR):
The company’s shares climbed 10.5% to $33.51 after announcing an enterprise agreement with BP to extend their strategic relationship and introduce new artificial intelligence capabilities with Palantir’s AIP software.*
Inspire Medical Systems, Inc. (INSP):
The company’s shares gained 10.3% to $217.08 after it was announced that the company would join the SmallCap 600.*
Impinj, Inc. (PI):
The company’s shares gained 10.2% to $172.65 after it was announced that the company would join the S&P SmallCap 600.*
Compass, Inc. (COMP):
The company’s shares rose 10.2% to $5.68.*
Trump Media & Technology Group Corp. (DJT):
The company’s shares gained 10% to $18.82.*
ImmunityBio, Inc. (IBRX):
The company’s shares rose 9% to $3.6850 after presenting long-term overall survival data in non-small cell lung cancer patients and announcing registrational intent Phase 3 trials with ANKTIVA and checkpoint immunotherapy at the World Conference on Lung Cancer.*
Hamilton Lane Incorporated (HLNE):
The company’s shares gained 7.9% to $157.26 after it was announced that the company would be added to the S&P MidCap 400.*
MicroStrategy Incorporated (MSTR):
The company’s shares gained 6.6% to $121.81.*
The Boeing Company (BA):
The company’s shares gained 3.7% to $163.55 following the announcement of a preliminary agreement between the company and its workers’ union, potentially averting a strike that could have disrupted operations.*
