My Take: I'm not sure what's driving CBUS's premarket move. The news mentioned above broke last Monday, so it's been a while. However, the stock could find new price support, it can hold above the $20 mark.
Biophytis [BPTS] - Last Close: $0.8801
Shares of Biophytis are rebounding from a pullback.
The tiny biotech lost 12.8% on Friday after French regulators requested additional data regarding an early access authorization for sarconeos for severe COVID-19.
Biophytis said the regulator wants more data so it can "precisely evaluate the risk vs. reward ratio" and authorize the drug as a treatment for severe COVID.
Regulators made their ruling despite the fact the drug produced statistically significant results in Phase 2 & 3 trials.
Biophytis will provide results of ongoing studies and additional data from its COVA study. It plans to resubmit its application to the French regulator in Q1 2024.
BPTS is one of today's top stocks with a 39.7% gain.
My Take: It looks like Friday's BPTS sell-off may have been overdone. It sounds like this drug will get approved, eventually, so there could be a catalyst coming down the pipeline in Q1 2024.
Eledon Pharmaceuticals [ELDN] - Last Close: $1.21
Eledon Pharma is up on the heels of an unusual press release.
The company said one of its drugs was used as part of the second-ever pig-to-human transplant of a genetically modified heart.
Eledon's tegoprubart was used as part of a chronic immunosuppressive regimen administered during the transplant procedure.
The procedure was completed on September 20th at University of Maryland Medical Center on a 58-year-old male suffering from heart failure.
Eledon Chief Executive Officer David-Alexandre C. Gros called the procedure a "momentous milestone for the transplant community."
ELDN is up 19.8% on the news.
My Take: ELDN could be coming off a double-bottom, and this story could give it the extra nudge it needs to break out. However, even though I like this setup, I should warn you that it's a very speculative play.
Faze Holdings [FAZE] - Last Close: $0.1530
Faze Holdings is rallying after several announcements.
Late last week, NASDAQ regulators sent the company a letter that extended its compliance period for an additional 180 days.
FAZE now has additional time to regain compliance with Nasdaq's minimum bid requirement.
Also, late last week, the company filed a prospectus for a proposed offering of its shares that was initially announced on Sept. 11th.
FAZE closed out last week with a 4.4% loss, but it's rebounding in today's premarket. Shares are up 75.7%, and it's today's top premarket stock.
My Take: There could be a little market magic behind this move. FAZE has struggled as of late, and sharp-eyed investors may be taking advantage of the stock's small float to set off a pump, which could be followed by a major DUMP...
