FINWIRES · TerminalLIVE
FINWIRES

Rocket Pharmaceuticals' Danon, PKP2-ACM Updates Seen as Key H2 Catalysts, Wedbush Says

By

Rocket Pharmaceuticals' (RCKT) Q2 update confirmed its programs are on track, with management expecting regulatory updates on RP-A501 for Danon disease and RP-A601 for PKP2-ACM in H2, Wedbush Securities said Tuesday in a report.

Danon disease is a rare inherited disorder that causes heart and skeletal muscle weakness, and PKP2-ACM is a genetic form of arrhythmogenic cardiomyopathy that can lead to dangerous heart rhythm disturbances.

Rocket plans to dose nine additional Danon patients, bringing the total number of patients on the recalibrated dose in the pivotal Phase 2 study to 12, Wedbush said.

For RP-A601, engagement with the FDA remains ongoing to finalize the design of a potential Phase 2 study, while Phase 1 remains open and actively enrolling, the report said. Rocket also expects to dose the first patient in the Phase 1 study of RP-A701 for BAG3-DCM in H2, Wedbush said.

BAG3-DCM is a genetic form of dilated cardiomyopathy that causes progressive weakening of the heart muscle.

Wedbush lowered its price target on Rocket stock to $15 from $16 and maintained its outperform rating.

Price: $3.49, Change: $-0.15, Percent Change: -4.12%

What else is happening in Wire?

Wire

Fermi Signs First Binding Lease Agreement at Project Matador in Texas; Shares Rise After Hours

Fermi (FRMI) said late Monday it has signed its first binding customer lease at its Project Matador campus in Texas, a deal expected to generate about $6.5 billion over its initial 15-year term for the first phase.The lease between Fermi's subsidiary Fermi Campus 1 and TensorWave TEX1, a unit of TensorWave, covers a facility supported by 222 megawatts of total power once the final delivery phase begins.The agreement includes expansion rights for two additional data centers that would bring the partnership to more than 650 MW if exercised.Project Matador's first power is targeted for 2026, with construction already underway and permits secured for about 6 GW of the planned 17-GW campus.Fermi shares jumped 19% in after-hours trading.

$FRMI
Wire

Everpure Secures Second Hyperscaler Design, Supply Agreement; Shares Rise After Hours

Everpure (P) secured a second design and supply contract with an undisclosed top-five hyperscaler.The first contract was announced in late 2024 and uses Everpure's advanced software-powered DirectFlash technology to optimize hyperscale storage.The latest contract will be a "significant contributor to future revenue" starting in fiscal 2028, the company said Monday in a statement.Everpure shares rose 7.7% in after-hours trading.

$P
Wire

Upwork Q2 Adjusted Earnings Rise, Revenue Declines; Shares Fall After-Hours

Upwork (UPWK) reported Q2 non-GAAP earnings late Monday of $0.41 per diluted share, up from $0.35 a year earlier.Analysts polled by FactSet expected $0.34.Revenue for the quarter ended June 30 was $191.7 million, down from $194.9 million a year earlier.Analysts expected $189.9 million.The company expects Q3 non-GAAP EPS of $0.31 to $0.33 on revenue of $176 million to $184 million. Analysts expect $0.41 and $193.8 million, respectively.The company now expects 2026 non-GAAP EPS of $1.38 to $1.43 on revenue of $730 million to $750 million. It previously expected non-GAAP EPS of $1.50 to $1.55 on revenue of $760 million to $790 million.Analysts expect $1.54 and $776.0 million, respectively.Upwork shares fell over 21% in after-hours trading.

$UPWK