(RTTNews) – Kezar Life Sciences, Inc. (KZR) – Shares of the clinical-stage biotechnology company soared nearly 80% after closing bell. The company’s lead drug candidate is KZR-616, a selective inhibitor of immunoproteasome that plays a crucial role in the immune system.
KZR-616 is under a phase Ib/II study in systemic lupus erythematosus patients with and without nephritis, dubbed MISSION. In the study, KZR-616 is administered as a subcutaneous injection weekly for 13 weeks or 24 weeks.
On Wednesday, the company announced an update from MISSION trial saying that KZR-616 showed improvement on exploratory efficacy measures across seven measures of disease activity. Two of two patients with Lupus Nephritis saw greater than 50% reduction in proteinuria.
Smartsheet Inc. (SMAR) – The cloud platform service provider tanked about 25% on Wednesday after hours. The company issued a weaker-than-expected outlook for the second quarter. Smartsheet sees second-quarter adjusted loss of $0.18 to $0.16 per share, wider than Thomson Reuters polled analysts’ current consensus estimate of $0.14 per share. Smartsheet expects revenues for the second quarter of $86 million to $87 million, lower than consensus of $88.23 million.
Air Transport Services Group (ATSG) – The air cargo transportation provider’s shares gained nearly 10% in extended session after tech giant Amazon.com Inc. (AMZN) Wednesday evening announced it will lease 12 converted Boeing 767-300 passenger planes from Air Transport Services. One of the new aircraft was added to Amazon’s existing fleet of 70 aircraft last month, while the rest will be delivered in 2021, Amazon announced.
Zuora, Inc. (ZUO) – Shares of the cloud-based subscription platform rose nearly 20% after the market closed on Wednesday. The company’s first-quarter results trumped Wall Street estimates. The company reported adjusted loss of $7.5 million or $0.06 per share, narrower than last year’s loss of $12.2 million or $0.11 per share. Revenues were $73.9 million, an increase of 15% year-over-year. Analysts polled by Thomson Reuters estimated loss of $0.10 per share and revenues of $70.93 million.
Cloudera Inc. (CLDR) – Shares of the enterprise software company plunged 11% in extended trading session Wednesday. The company’s second-quarter revenue outlook fell short of current Street estimates. Cloudera sees second-quarter adjusted earnings of $0.06 to $0.07 per share and revenues of $206 million to $209 million. Analysts polled by Thomson Reuters currently estimate earnings of $0.05 per share on revenues of $212.2 million. For the full year, Cloudera sees adjusted earnings of $0.26 to $0.30 per share on revenues of $825 million to $845 million, compared to analysts’ current consensus of earnings of $0.23 per share and revenues of $858.37 million.
“The business outlook is based on the assumption that the recessionary impact of the coronavirus pandemic (COVID-19) will peak in Cloudera’s second and third quarters of fiscal 2021 and moderate in the fourth quarter of our fiscal 2021,” the company said in a statement.
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