The generic drugs maker today announced that it had received new "abbreviated new drug application" (ANDA) approval from the all-powerful U.S. Food and Drug Administration (FDA) for Bimatoprost Ophthalmic Solution.
The product is manufactured at Akorn’s Amityville, New York manufacturing facility.
Despite recent gains in the company;'s shares, the stock has tumbled 80% in the year to date.
Elsewhere, e-commerce titan Alibaba (NASDAQ:BABA) shares eased 0.11% to $146.78, having lost 2.80% yesterday.
The Chinese firm, listed on the NYSE, has seen a significant drop in its share price in recent months - around 30%.
It was not aided today as KeyBanc Capital cut its price target on the stock to $215 from $220, citing lower expectations for core commerce.
In other pre-market news, Sears Holdings (NASDAQ:SHLD), the famous American retail chain, saw shares tank over 31% in pore-market deals to $0.40 as it is heading towards bankruptcy.
According to the Wall Street Journal, the firm is readying a bankruptcy filing that could come as soon as this week.
PPG Industries Inc (NYSE:PPG) saw shares nudge up over 3% to $101.63 after hours in New York following a report that Nelson Peltz's Trian Fund Management had taken a 2.9% stake in the company worth $690 million.
Sears, Toys R Us, Kmart are all examples of poor leadership & failure to invest in the advantage they have over internet retailers; the ability to engage human contact & create a personal shopping experience w/staff vs the disconnect of online shopping.— Eric Foster (@efoster_eric) 10 October 2018
But shares in the Fortune 500 firm yesterday closed down over 10% after it issued a warning to investors that its upcoming quarterly earnings numbers would take a hit due to softening demand and rising materials costs.
Hurricane Michael is also very much making its presence felt as it heads towards Florida.
Experts have strengthened it into a Category 4 storm early Wednesday, with maximum sustained winds of 130 mph (miles per hour).
U-Haul is the top trending name on Google business and one of a few firms taking a social-conscience stance on the event.
The subsidiary of Amerco (NASDAQ:UHAL) is offering consumers 30 days of free self-storage and U-Box container usage at 28 facilities in Florida, the Carolinas, Georgia and Alabama.
UHAL shares lost 0.84% to $346.04 yesterday.