Proteostasis Therapeutics Inc (NASDAQ:PTI) (MarketWatch)
Shares of Proteostasis Therapeutics Inc. PTI, +49.03% rocketed 70% toward an 11-month high in very active morning trade Tuesday, after the biopharmaceutical company said it cystic fibrosis treatment was granted Breakthrough Therapy Designation (BTD) by the Food and Drug Administration. Volume topped 14 million shares, compared with the full-day average over the past 30 days of about 780,000 shares, according to FactSet. The BTD helps expedite the development and review of a drug aimed at treating a serious or life-threatening disease where there is a significant unmet need.
BlueLinx Holdings Inc. (NYSE:BXC) (The Motley Fool)
What happened: Shares of BlueLinx Holdings Inc. (NYSE: BXC) jumped on Tuesday, rising more than 18% at 10:45 a.m. EDT, after the company agreed to buy privately held Cedar Creek. So what: BlueLinx Holdings announced that it agreed to acquire Cedar Creek from Charlesbank Capital Partners for $413 million, which includes $345 million in cash and $68 million in value from capital leases. Cedar Creek, which is a leading building-product wholesale distributor, will enhance BlueLinx’s product offerings, capabilities, and geographic reach.
Athersys, Inc. (NASDAQ:ATHX) (Benzinga)
Athersys, Inc. rose 14.7 percent to $1.79 after biotechnology company that focuses on regenerative medicine received an equity investment. The company said it received a $21 million equity investment at $1.76 per share from Healios K.K. as part of a plan to significantly expanding their existing development and commercialization collaboration.
United States Steel Corporation (NYSE:X) (CNBC)
U.S. Steel – The steelmaker raised its full-year earnings forecast, citing President Trump’s imposition of tariffs on imported steel and aluminum. The company now expects earnings of $885 million for this year, compared to its prior forecast of $685 million.