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Small-Cap Snapshot: Axovant reaches agreement to develop Parkinson's disease gene therapy

NCI Building Systems, Ambarella and Shiloh Industries are also making noise.

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Axovant Sciences entered into a licensing agreement with London-based Oxford BioMedica

Axovant Sciences Ltd (NASDAQ:AXON) shares more than doubled after the clinical-stage biopharma entered into a licensing agreement with Oxford BioMedica plc (LSE:OXB) to develop and commercialize Oxford's gene therapy for Parkinson's disease. Axovant plans to initiate a Phase I/II dose escalation study of the drug known as AXO-Lenti-PD in patients with advanced Parkinson's disease by the end of 2018. Shares of the London-based company surged nearly 140% to US$4.14.

Metal product manufacturer NCI Building Systems Inc (NYSE:NCS) saw its shares rise after reporting an earnings beat and sales growth in its fiscal second-quarter results. The company makes metal components like panels and coatings for nonresidential buildings. NCI reported earnings of US$0.25 per share, beating Wall Street estimates by US$0.07. Sales rose nearly 9% to US$457.1mln compared with US$420.5mln in the previous year's second quarter. Shares of the Houston-based company jumped more than 8% to US$21.02.

READ: Axovant shares jump after welcoming former Allergan and Teva execs to its management team

Semiconductor manufacturer Ambarella Inc (NASDAQ:AMBA) reported an earnings and revenue beat in its fiscal first quarter but its shares fell on weak guidance going forward. The California-based company adjusted reported earnings of US$0.13 per share on revenue of US$56.69mln versus Wall Street estimates of US$0.09 per share on revenue of US$56.1mln. Ambarella expects revenue between US$60mln and US$64mln, falling below analyst estimates of US$68.2mln. The manufacturer supplies camera components to GoPro Inc (NASDAQ:GPRO). Shares were down more than 13% to US$42.81.

Automotive supply company Shiloh Industries Inc (NASDAQ:SHLO) beat on revenue in its fiscal second quarter but missed on earnings, sending its shares falling. The company reported earnings of US$0.24 per share on revenue of US$297.3mln versus analyst estimates of US$0.26 per share on revenue of US$269.5mln. Shiloh specializes in providing lightweighting and noise-reduction technologies to the mobility market. Shares of the Ohio-based company fell more than 9% to US$9.56.

 

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NASDAQ:AXON
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