Shares of Akebia Therapeutics Surge 30% on Financial Results
Today Akebia Therapeutics (AKBA) made waves in the biotech sector and is leading the PRISM Biotech Index, with its stock soaring approximately 30% following the release of its fourth-quarter and full-year 2024 financial results. The surge comes as the company reports strong early performance for its newly launched anemia treatment, Vafseo® (vadadustat), in the U.S. dialysis market.
In other biotech news, Palisade Bio (PALI) made gains of 10% after the company announced the commencement of dosing for its first ulcerative colitis (UC) patient cohort in the ongoing Phase 1a/b study of PALI-2108, Enliven Therapeutics (ELVN) is also trading upwards of 10% after reporting financial results for the fourth quarter and full year with a significant cash position of $313M that the company expects will provide cash runway into mid-2027.
Space Stocks Race as Sidus Shares Gain on LizzieSat™-3 Launch
Space emerger Sidus Space (SIDU) shares are up close to 9% after announcing its third launch in 12 months, enhancing Sidus Space’s AI-powered data solutions. The LizzieSat™-3 is targeted for a launch window that opens today, March 14, 2024 at 11:39 PM PDT. The satellite will launch as part of the Transporter-13 rideshare mission with SpaceX.
The PRISM Emerging Space Index is up over 4% with companies AmpliTech Group (AMPG), Redwire Corp (RDW), Intuitive Machines (LUNR) and Rocketlab (RKLB) all posting gains over 6% as recent positive news in the sector such as NASA hailing Blue Ghost 1 mission as “proof positive” of CLPS program and the Pentagon’s Global Dome program which could be attributed to the overall boost for Space related companies.
PRISM Mid-Day Movers
Xponential Fitness (XPOF) lags the PRISM Emerging Weight Loss, tumbling over 38% after missing Q4 earnings expectations and reporting financial restatements, higher-than-expected studio closures, and operational struggles in key brands.
Gorilla Technology (GRRR) leads the PRISM NextGen Tech & AI Index, jumping 23.5% after being named the exclusive AI & digital infrastructure partner for the $100 billion Global Edge Worldwide Fund, prompting the company to raise its 2025 revenue guidance.
Iridex (IRIX) leads the PRISM MedDevices Index, climbing 18% despite no material developments, as speculative trading drives volatility ahead of its March 27 earnings call.
SoundHound AI (SOUN) leads the PRISM NextGen Tech & AI Index, gaining 11% ahead of its showcase at NVIDIA’s GTC 2025, where it will unveil next-gen voice AI innovations and in-car voice commerce technology.
Other notable mid-day movers include APLD, AMPG, ARQQ, and ICD.
The post PRISM Mid-Day Moves: Space Stocks Gain, Biotech’s Emerge appeared first on PRISM MarketView.
