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September 01, 2020 10:18am
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Greek negotations faltering, markets open lower

Indications that Greek debt negotiations may be faltering weighed the markets down to a lower open with the Dow falling 56 points to 18,087. Nasdaq slipped 4 points to 5,155.

On the upside

Celator Pharmaceuticals (Nasdaq: CPXX) reported positive induction response rates in a Phase 3 study of CPX-351 liposome injection to treat patients with high-risk acute myeloid leukemia.

MeetMe (Nasdaq: MEET) lifted its earnings and revenue outlook for the second quarter.

Catalyst Pharmaceuticals (Nasdaq: CPRX) reported positive top-line results from a proof-of-concept trial of CPP-109 to treat patients with Tourette’s Disorder.
On the downside

Transition Therapeutics (Nasdaq: TTHI) reported disappointing results from a Phase2/3 clinical study of ELND005 in treating agitation and aggression in Alzheimer’s Disease patients.

Global Equities Research analyst Trip Chowdhry said that Fitbit (NYSE: FIT) stock was hyper-inflated and recommended that investors lock in profits.

Alcobra (Nasdaq: ADHD) reported disappointing results from a Phase 2 clinical trial MDX to treat Fragile X Syndrome.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 slipped 3 points to 2120. Bitcoin slipped $2 to $242.

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