Top Gainers in US: $LUB $SPRO $ALBO

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Luby's Explodes on Liquidation Plans

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Luby's, Inc. (NYSE:LUB) shares skyrocketed 111% after the restaurant chain announced plans to liquidate. The board of directors has approved strategic alternatives in which one of them calls for the sale of the company's assets and distributions of net proceeds to investors.

Investors pushed the stock up having emerged that they could earn between $3 and $4 a share upon liquidation of the company's assets. Some of the assets up for sale include Cafeterias, DFuddruckers, and the Culinary Contract Services business. There are also plans to sell the company's real estate. The sale could raise between 492 million and $123 million, thus the $3 to $4 distribution offer.

Spero Therapeutics Skyrockets On positive Clinical Trial Results

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Spero Therapeutics Inc. (NASDAQ:SPRO) share turned green, rallying by more than 40% after the clinical-stage biopharmaceutical company announced top-line results as part of Phase 3 ADAPT-PO clinical trial in complicated Urinary Tract Infection and Acute Pyelonephritis. The Pivotal Phase 3 clinical trial of oral tebipenem HBr met the primary endpoint and demonstrated statistical non-inferiority.

The top-line clinical trial results comes just days after the company announced FDA acceptance of Investigational New Drug Application for SPR720, a candidate drug being developed for the treatment of nontuberculous mycobacterial (NTM) pulmonary. The company plans to proceed with Phase 2A clinical trials before the end of the year.

Albireo Pharma Explodes AS Candidate Drug Meets End-point

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Albireo Pharma Inc. (NASDAQ:ALBO) was a big mover surging by more than 40% after announcing top-line results on lead candidate drug odevixibat in the treatment of progressive familial intrahepatic cholestasis.

The candidate drug showed a safety profile comparable to placebo, while reducing serum bile acids and improving pruritus in patients. Currently, there are no approved treatments for the condition believed to be affecting between 8,000 to 10,000 people in the U.S and Europe.

Conversely, the clinical-stage liver disease company has announced the pricing of a public offering of 3 million shares of common stock. The company has also granted underwriters a 30-day option to purchase an additional 450,000 shares. Proceeds from the offering should go a long way in financing clinical trial programs in the pipeline.

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