Purple Biotech (PPBT) said Wednesday that the US Patent and Trademark Office has issued a "Notice of Allowance" for a patent application covering tri-specific antibody constructs and methods of use, further expanding the company's intellectual property portfolio supporting its proprietary platform for conditionally activated multispecific antibodies.

Shares soared 36% as intraday trading volume catapulted to over 70.7 million from a daily average of about 225,000.

Alumis (ALMS) shares dropped after disappointing results from a phase 2b trial of envudeucitinib to treat systemic lupus erythematosus were likely an overreaction, Oppenheimer said in a note emailed Wednesday. The "consistent and positive results" seen in the pre-specified subpopulation IFNGS-high indicate that envudeucitinib has "continued potential in the biomarker-defined population," which represents the majority of people with systemic lupus erythematosus.

Shares advanced 10%, with intraday trading volume soaring to more than 7 million from a daily average of about 1.7 million.

Lianhe Sowell International (LHSW) announced the pricing of a follow-on public offering of about 7.64 million units at $1.44 each for gross proceeds of roughly $11.0 million.

Shares surged 32%, with intraday trading volume at over 1.5 million versus the stock's daily average of about 2 million.

Price: 2.25, Change: +0.59, Percent Change: +35.54