U.S. stocks are nearing the end of calendar 2016 at (or trying to push through to) all-time highs. The S&P 500 Index improved 0.2% on Tuesday, the Dow Jones Industrial Average finished 0.1% higher and the Nasdaq Composite surged 0.5% to hit a new record high. Still, Dow 20K remains elusive.
As we head into what’s sure to be a light-volume Wednesday, a few stocks are still worth a look. Today, we’re focusing on Galena Biopharma Inc (NASDAQ:GALE), Anthera Pharmaceuticals Inc (NASDAQ:ANTH) and Ford Motor Company (NYSE:F).
Here’s what you should know:
Galena Biopharma Inc (GALE)
GALE shares were booming in Wednesday’s premarket trade on news that the company’s drug GALE-401 — which treats the rare blood disorder, thrombocythemia — will be moving into late-stage trials.
GALE-401 is a controlled release formulation of anagrelide, which reduces elevated platelet count and ameliorates associated symptoms, including thrombo-hemorrhagic events. High platelet counts can cause strokes and heart attacks.
Galena’s treatment is designed to slowly release the drug throughout the body, cutting down on instances of side effects that result from maximum or peak plasma concentrations following administration.
Prior to the news, GALE shares were off more than 90%, fueled by the discontinuation of a clinical trial for NeuVax. However, the positive headline for GALE-401 has the stock up 25% in response.
Anthera Pharmaceuticals Inc (ANTH)
ANTH shares were on the other edge of the clinical trial sword, tanking after disappointing results.
Anthera’s Sollpura is a medication that helps to treat cystic fibrosis, specifically helping maldigestion in patients. However, the drug “narrowly” missed its primary endpoint, sending shares to the ground.
One point of potential hope: The company said the study’s structure may have contributed to the failure. ANTH now says it intends to perform a new experiment in Q1 2017.
ANTH shares were off more than 60% in early Wednesday trade.
Ford Motor Company (F)
Ford is facing a probe by U.S. regulators regarding some of its vehicles’ brakes.
The National Highway Traffic Safety Administration announced on Tuesday that it was launching an investigation to determine whether or not the company’s Ford Fusion and Mercury Milan sedans from model year 2007 through 2009 have defective breaks.
At least three crashes have taken place due to the malfunction, according to the agency. No injuries have been reported so far surrounding these crashes.
If these Ford cars’ brakes are found to have such a flaw, a recall could follow in the near future. Rough or uneven surfaces may also be to blame as the turbulence may cause the anti-lock braking system to disarm. Such a landing could delay the effect of the brakes stopping the vehicles, increasing the distance it takes for the sedans to stop.
Another recent Ford recall involves 2010 and 2011 Fusion and Milan models due to fuel tanks that may crack.
F shares were unchanged in premarket trading.
