U.S. stock futures were skittish on Wednesday ahead of the main event, as investors got nervous waiting for the Federal Open Market Committee's monetary policy decision and press conference from Fed chairman Ben Bernanke later this afternoon. 

Soligenix (OTCQB:SNGX), a clinical stage biopharmaceutical company, has received fast track designation from U.S. regulatory authorities for its lead compound, for which it is aiming to start phase 2 trials in the second half of this year. 

A recent deal in the pharmaceutical sector has shone a light on the fact that Pivotal Therapeutics (CNSX:PVO) (OTCQX:PVTTF) is undervalued, with investors seeing potential for the stock to be valued at up to $500 million, compared to its current market cap of just over $11 million. 

Pivotal Therapeutics (OTCQX:PVTTF) (CNSX:PVO), a specialty pharmaceutical company focused on Omega-3 therapies for cardiovascular disease (CVD), has narrowed its first quarter losses as the company's marketing program for its Vascazen product picks up momentum. 

A series of American retailers reported a mixed bag of quarterly results after the bell. Sears Holdings (NASDAQ: SHLD) confirmed investor fears, sending the stock tumbling after the company reported a first-quarter loss twice as large as expected. After returning to the black in the fourth quarter following three-straight losing quarters, the Sears department store holding company says it lost $279 million, or $2.63 per diluted share.