US stock futures experienced an upward trend in Friday's premarket session, signaling a potential positive end to the week. The Dow Jones Industrial Average futures rose by 0.14%, while the S&P 500 futures gained 0.35% and Nasdaq futures increased by 0.78%. Oil prices also moved higher, with key global benchmarks Brent crude and West Texas Intermediate crude climbing by 0.64% and 0.67%, respectively. Investors are anticipating the release of the Baker Hughes rig count later Friday afternoon, which is considered an important indicator for the health of the oil drilling industry. In notable market performances, VCI Global ($VCIG) saw its shares surge 40% in the premarket after experiencing a nearly 5% loss in the previous trading session.
Loop Industries ($LOOP) shares rose by 43% following the announcement that it had secured 10 million euros (approximately $10.5 million) through a convertible preferred security financing arrangement with Reed Societe Generale Group. Additionally, shares of TruGolf ($TRUG) surged by 25%, enhancing an 18% gain from Thursday. Conversely, some stocks faced significant declines.
Repare Therapeutics ($RPTX) saw a sharp drop of 39% after releasing results from a phase 1 trial of its cancer drugs lunresertib and camonsertib, which did not meet investors' expectations. Candel Therapeutics ($CADL) shares fell by 31% after announcing late Thursday that it had priced a public offering of shares and pre-funded warrants expected to yield approximately $80 million in gross proceeds.
Inovio Pharmaceuticals ($INO) also experienced a decline, dropping 30% after announcing an underwritten public offering of shares and warrants for gross proceeds of $30 million..