ACADIA Pharmaceuticals, Ocular Therapeutix, Asana And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

Author: Avi Kapoor | March 12, 2024 05:36am

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining by around 50 points on Tuesday.

Shares of ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) fell sharply in today’s pre-market trading after the company reported the Phase 3 ADVANCE-2 trial evaluating pimavanserin for the treatment of negative symptoms of schizophrenia did not meet the primary endpoint.

ACADIA Pharmaceuticals shares dipped 17.4% to $19.93 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

Power & Digital Infrastructure Acquisition II Corp. (NASDAQ:XPDB) shares tumbled 12.6% to $25.57 in pre-market trading after surging 181% on Monday.
Ocular Therapeutix, Inc. (NASDAQ:OCUL) shares fell 5.9% to $9.16 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.
Aeva Technologies, Inc. (NASDAQ:AEVA) shares declined 5.4% to $1.23 in pre-market trading. Aeva said it expects a 1-for-5 reverse stock split of its outstanding shares of common stock will be effective as of March 18, 2024.
PLDT Inc. (NYSE:PHI) fell 3.8% to $25.95 in pre-market trading after jumping over 16% on Monday.
NextNav Inc. (NASDAQ:NN) declined 3.6% to $5.07 in pre-market trading. NextNav shares jumped 35% on Monday after the company announced it signed an agreement to acquire spectrum licenses covering an additional 4 MHz in the lower 900 MHz band.
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares fell 3.2% to $2.72 in pre-market trading. Lexicon shares surged over 29% on Monday after the company said it is preparing to resubmit its Sotagliflozin NDA for Type 1 diabetes following FDA feedback. Additionally, the company announced a securities purchase agreement expected to result in gross proceeds of around $250 million.
Asana, Inc. (NYSE:ASAN) shares fell 2.4% to $18.35 in pre-market trading following fourth-quarter results.