9 Meters Biopharma [NMTR] - Last Close: $0.207
A new bout of clinical data is pushing 9 Meters Bio higher.
The clinical-stage biotech announced final results from a Phase 2 VIBRANT study and an end-of-Phase 2 meeting with the FDA late Monday, and the results were promising.
9 Meters says Vurolenatide - a long-acting GP1 receptor agonist designed for irritable bowel syndrome patients - met its primary endpoints and demonstrated a 30% reduction in the study.
The company also said it plans to submit a Phase 3 protocol to the FDA to finalize specifics of the trial design.
Clinical plans and activities are already underway to support the Phase 3 trial, and the company expects to announced new developments once it finalizes the trial with the FDA.
NMTR is one of today's top premarket performers with a 22.4% gain on active trading volume.
My Take: Sounds like this drug is on course for an approval, but this tiny biotech stock is sure to show some volatility in the meantime. It's down big from the beginning of the year. If you can hold on, there might be more catalysts in the cards for this micro-cap stock.
Faraday Future Intelligent Electric [FFIE] - Last Close: $0.8404
Faraday Future is trending after it reached a key resolution yesterday.
The EV stock announced during Monday's session that it had resolved a governance dispute with its largest shareholder, FF Top Holding, and secured up to $100 million in financing.
Under the terms of the deal, FF Top will withdraw its lawsuit against Faraday.
In exchange, there will be changes in Faraday's board membership and size, as well as an amendment to its shareholder agreement with FF Top.
With the dispute resolved, Faraday has already secured $100 million in new financing, including a $60 million investment in convertible secure notes from Senyun Intl.
The company says it is in "active discussions" with potential investors to explore additional funding, and it's taking further steps to reduce its costs.
FFIE is one of today's most actively traded premarket stocks, and it's showing a 12.9% gain.
My Take: This struggling EV stock has a big short interest at 18.1%, but its long-term outlook isn't great. It could be a short squeeze candidate, but it may require a quick exit to avoid getting caught holding the bag.
