Acer Therapeutics, Relief Therapeutics Receive CRL From FDA For ACER-001 For UCDs

Pharmaceutical company Acer Therapeutics Inc. (ACER) announced Monday the resubmission of Acer's New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for ACER-001 (sodium phenylbutyrate) for oral suspension for the treatment of patients with urea cycle disorders (UCDs).

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from global markets overnight, as traders seemed reluctant to make significant moves ahead of key US employment data later in the week, which is expected to show a slowdown in the pace of job growth in June, could impact the outlook for interest rates. Asian markets closed mostly higher on Monday.

Indian shares may open a tad lower on Tuesday as oil traded near a two-month high amid an escalation in tensions in the Middle East and concerns over the rapid start to the Atlantic hurricane season.

Adding to the gains in the previous two sessions, the Japanese stock market is notably higher on Tuesday, with the Nikkei 225 moving above the 39,800 level, following the broadly positive cues from global markets overnight, with gains in index heavyweights, exporters and financial stocks. The Yen also hit a fresh 38-year low against the US dollar.

The Thai stock market has moved lower in three straight sessions, slipping more than 20 points or 1.5 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,300-point plateau although it may stop the bleeding on Tuesday.

The Indonesia stock market has moved higher in four straight sessions, collecting more than 250 points or 3.7 percent along the way. The Jakarta Composite Index now rests just beneath the 7,140-point plateau and it's tipped to open in the green again on Tuesday. The global forecast for the Asian markets suggests little movement ahead of key U.S. employment data later this week. The European and U.S. markets finished slightly higher and the Asian markets figure to follow suit.

Adding to the losses in the previous session, the Australian stock market is trading slightly lower on Tuesday, despite the broadly positive cues from global markets overnight. The benchmark S&P/ASX 200 is staying well below the 7,800 level, with weakness is financial stocks as traders cautiously await the minutes of the Reserve Bank of Australia's June monetary policy meeting.

Ahead of Monday's holiday for SAR Establishment Day, the Hong Kong stock market had ticked higher again - one day after ending the two-day winning streak in which it had added more than 60 points or 0.3 percent. The Hang Seng Index now rests just beneath the 17,720-point plateau and it's looking at a firm open on Tuesday. The global forecast for the Asian markets suggests little movement ahead of key U.S. employment data later this week. The European and U.S. markets finished slightly higher and the Asian markets figure to follow suit. The Hang Seng finished barely higher on Friday following gains from the energy companies, weakness from the technology stocks and a mixed picture from the property sector. For the day, the index was up 2.11 points or 0.01 percent to finish at 17,718.61 after trading between 17,583.19 and 17,865.47. Among the actives, Alibaba Group declined 1.47 percent, while Alibaba Health Info and ANTA Sports both retreated 1.57 percent, China Life Insurance lost 0.72 percent, China Mengniu Dairy tanked 2.23 percent, CITIC rallied 2.16 percent, CNOOC surged 2.99 percent, Country Garden dropped 1.23 percent, CSPC Pharmaceutical stumbled 1.74 percent, Galaxy Entertainment fell 0.68 percent, Henderson Land shed 0.95 percent, Hong Kong & China Gas soared 2.41 percent, Industrial and Commercial Bank of China and CLP Holdings both jumped 1.53 percent, JD.com tumbled 2.09 percent, Lenovo slumped 1.43 percent, Li Ning skidded 1.29 percent, Meituan plunged 2.29 percent, New World Development advanced 0.69 percent, Techtronic Industries plummeted 4.03 percent, Xiaomi Corporation slid 0.36 percent, WuXi Biologics sank 1.20 percent and China Resources Land and Hang Lung Properties were unchanged. The lead from Wall Street is cautiously optimistic as the markets opened slightly higher on Monday and hugged the line for much of the day before moving firmly into the green by the close.