Premarket Movers | Vir Biotech Soars 53%; Keysight Technologies Gains 15%; SanDisk Jumps over 2%; Novo Nordisk Falls 3%

Vir Biotechnology, Inc. stock surgeed 53% in premarket trading after the small biotech company smashed Wall Street's fourth-quarter sales expectations and signed a collaboration deal with Astellas Pharma (ALPMY).

Electronic equipment maker Keysight Technologies forecast second-quarter profit ahead of Wall Street estimates, sending its shares up about 15% in premarket trading.

Storage shares rose in premarket trading. SanDisk up 2.55%; Seagate Tech, Western Digital up around 1%.

Novo Nordisk shares fell another 3% in premarket trading after closing 16% lower on Monday. Novo Nordisk's miss of a key goal in a late-stage comparison clinical trial of obesity drug CagriSema with Eli Lilly's Zepbound is a blow to the Danish drugmaker's long-term outlook, Citi analysts say.

Kratos Defense & Security Solutions reported fourth quarter results that exceeded analyst expectations, but shares fell 4.5% in premarket trading as the defense technology company’s first quarter revenue guidance disappointed investors.