Biotech Stock Soars 92% on New Drug Data 💊

[Image](www.elitetrade.club) Good Morning! Hey, there! It's Chris from Elite Trade Club, here to give you this morning's premarket trading news. Happy Monday! It's December 12th. I hope you have a great day! Let's get ready to trade! Markets 📈 Stocks sank on Friday and closed the week with losses. The Dow fell 0.9%, while the S&P 500 and Nasdaq both posted losses of 0.7%. The Russell 2K underperformed with a 1.1% decline. Today, futures are edging higher ahead of the week's first opening bell. S&P 500 contracts are currently showing a 0.2% gain. Sponsored [Get Rich on Gold Stocks THIS YEAR!]( Gold stocks are on-the-rise as rampant inflation continues to steal money directly out of your personal bank account! The biggest gains are coming from the small-cap gold sector, where insane profits of 1,000% and more are regularly made by those in-the-know. Luckily, our expert team has done all the heavy lifting for you by uncovering a little-known gold company that's rapidly closing in on the next major gold discovery in the mineral-rich state of Nevada. It's a rare ground-floor opportunity to own the next great American gold haul for an unheard of asking price of just US$1 per share. [It's all in the FREE report you can get here.]( Premarket Highlights 🔎 🤝🏻 Microsoft Takes Stake in LSEG: Microsoft has acquired a 4% stake in London Stock Exchange Group. The investment will also shift the exchange's data onto the tech giant's cloud platform. What to Watch Today 👀 Fed Week The Federal Reserve will announce its policy decision for December this week, and a 0.5% rate increase is virtually locked in. However, Fed Chair Jerome Powell's comments could make the difference in how the market reacts to the hike. If he makes more hawkish comments, we could see widespread selling. International 🌍 Asia Hong Kong's Hang Seng Composite fell 2.2% overnight, while the Shanghai Composite lost 0.8%. Australia's ASX 200 posted a 0.4% loss. Europe European stocks are down with the German DAX and French CAC 40 carrying a 0.2% decline. The Euro Stoxx 600 is down 0.5%. Major Earnings 💰 Universal Technical Institute Inc [UTI] ... AM Daktronics, Inc. [DAKT] ... AM Oracle Corporation [ORCL] ... PM Coupa Software Incorporated [COUP] ... PM Fluence Energy, Inc. [FLNC] ... PM Blue Bird Corporation [BLBD] ... PM Joann, Inc. [JOAN] ... PM Inotiv, Inc. [NOTV] ... PM Mesa Air Group, Inc. [MESA] ... PM Mamamancini'S Holdings, Inc. [MMMB] ... PM Economy 🏗 - NY Fed expectations [Nov] ... 11a - Federal budget (compared with Nov. 2021) [Nov] ... 2p Running Hot 🔥 Gainers - HTG Molecular Diagnostics [HTGM] >> +157.4% - EzFill Holdings [EZFL] >> +29.3% - Kiora Pharmaceuticals [KPRX] >> +25.7% Decliners - Getaround [GETR] >> (68.1%) - Adicet Bio [ACET] >> (35.7%) - Ambrx Biopharma [AMAM] >> (25.1%) Horizon Therapeutics [HZNP] - Last Close: $97.29 A blockbuster buyout is catapulting Horizon Therapeutics to huge gains. The mid-cap biotech stock has agreed to be acquired by Amgen in a deal worth roughly $28.3 billion. Amgen will pay $116.50 apiece to acquire each share of HZNP, representing a 19.7% premium to the stock's Friday closing price. The deal has been approved by both companies boards, but shareholders still need to approve the transaction. HZNP is one of today's most active stocks, and it's up 14.8%. My Take: This is a huge pharma merger but, as is usually the case, most of the upside has been sucked out of this trade already. AMGN is down on the news, so the market doesn't appear to be sure that this is a great deal for the buyer. Aptevo Therapeutics [APVO] - Last Close: $3.47 Aptevo Therapeutics is moving higher on upbeat drug data. The clinical-stage biotech firm announced that a Phase 1b trial of an APVO436 combo achieved a 100% clinical benefit rate. The study examined APVO436 in combination with venetoclax & azacitidine in acute myeloid leukemia patients. Aptevo plans to initiate a Phase 2 trial in the second half of 2023 to further evaluate the drug combo. Shares of APVO are up 92.0% on active premarket volume. My Take: APVO has been trending higher since late November, and it could be in position to find new support at $5 a share if it can hold onto its gains until the closing bell. Harpoon Therapeutics [HARP] - Last Close: $1.15 Harpoon Therapeutics is also up on positive clinical data. The clinical-stage immunotherapy company presented updated Phase 1 trial data for HPN217 in multiple myeloma patients at a recent industry conference. Interim data showed HPN217 demonstrated clinical activity and a tolerable safety profile. HARP is trading actively with a 25.2% gain on the news. My Take: HARP has been heating up since the end of last week, and today's jump could throw more fuel on the fire. If it can maintain its momentum, it could push higher in the coming days. Castellum [CTM] - Last Close: $1.32 Castellum has been awarded a key government contract. The cybersecurity firm announced today that it is one of the winners of the U.S. Air Force's Architecture and Integration Directorate Multiple Award Indefinite Delivery/Indefinite Quantity Contract. As an awardee of the contract, Castellum can compete for orders up to a $900 million ceiling for the development of cyber-related capabilities. The work is expected to be completed by Dec. 2032, and Castellum says it plans on focusing significant resources and effort on the contract. CTM is one of today's top performers with a 23.4% gain. My Take: Government contracts are always a big deal for small companies, and this one looks like a real whopper. It could help drive revenue growth at CTM for years to come. That's it for today! Thanks for reading, and good luck out there! Best Regards, Chris D. -- Elite Trade Club P.S... If you're on the hunt for a new broker, check out our preferred partner, moomoo! You can [get 15 free stocks]( worth up to $2,000 each if you join the moomoo App now. [Click here to get started.]( P.P.S... 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