Shares of Immunovant, Inc. (Nasdaq: IMVT) surged by more than 40% in pre-market trading after promising Phase 1 trial results for IMVT-1402. Administered subcutaneously in healthy adults, IMVT-1402 demonstrated significant dose-dependent reductions in Immunoglobulin G (IgG) levels without adverse effects on serum albumin or low-density lipoprotein cholesterol (LDL-C), reinforcing IMVT-1402 as a potential neonatal fragment crystallizable receptor (FcRn) inhibitor. 

Moreover, early data from the Multiple Ascending Dose (MAD) study showed a 63% reduction in mean total IgG levels from baseline in the 300 mg cohort after four weekly subcutaneous injections of IMVT-1402. The treatment was well-tolerated with mild to moderate adverse events.

$IMVT was trading a $31.23 in pre-market, reflecting an increase of $10.95 (+53.99%)

In other news, Ferguson plc (NYSE: FERG), a leading global distributor of plumbing and heating products, reported fourth-quarter fiscal 2023 earnings of $2.77 per share, surpassing the consensus EPS estimate of $2.46. The company's quarterly revenues reached $7.84 billion, slightly exceeding analysts' revenue projection of $7.60 billion for the period.

In pre-market, $FERG was trading at $151.61, up $0.50 (+0.33%).

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)