| Liminal BioScience [LMNL] - Last Close: $3.62 Liminal Bio is rallying on news of a buyout proposal. Thomvest Asset Management has made a non-binding offer to acquire the biopharma firm at a proposed price of $7.50 per share. The bid represents a 107% premium to LMNL's Tuesday closing price. Thomvest currently controls 64% of Liminal Bio via a wholly-owned limited partnership called Structured Alpha LP. Liminal BioScience has yet to comment on the proposal, but shares are up 88.1% on the news. My Take: There's still some potential upside left int his trade if LMNL accepts the proposal. This one could be worth watching. InflaRx [IFRX] - Last Close: $3.77 InflaRx is running hot after a regulatory green light. The clinical-stage biotech yesterday announced on Tuesday that the FDA had awarded its Gohibic drug candidate with an Emergency Use Authorization (EUA). Drug regulators approved Gohobic, or viobelimab, as an emergency treatment for critically-ill COVID-19 patients based on data from a Phase 3 PANAMO trial. IFRX soared 83.9% on Tuesday after the news hit the market, and shares continued to push higher in the after-market. This morning, IFRX is up 16.1% ahead of the opening bell, and it's one of the premarket's most actively-traded stocks. My Take: It's pretty late in the game to try and jump in this rally. Watch out for a potential pull-back at today's opening bell. Immunic [IMUX] - Last Close: $1.46 A new bout of promising drug data is boosting shares of Immunic. The micro-cap biotech said a Phase 2b study of vidofludimus calcium in ulcerative colitis patients produced an impressive clinical remission rate. Immunic said patients receiving vidofludimus exhibited a remission rat of 61.5% at week 50, compared with a 27.8% rate for placebo. Immunic also noted that the drug produced a statistically-significant, dose-linear rise in endoscopic healing that was a 38% improvement over placebo. IMUX is one of this morning's top movers with a 25.3% gain on the news. My Take: Promising drug data is a always a good sign, but IMUX's chart is pretty lackluster. It also has a short ratio of 12.17%, so a targeted short squeeze could be contributing to this move higher. Beware of a pullback down the road. TransCode Therapeutics [RNAZ] - Last Close: $0.3306 TransCode just received a major government grant. The oncology-focused biotech announced this morning that it has been awarded the third year of a Fast-Track Small Business Innovation Research grant. The National Institute of Health grant will support the clinical evaluation of TransCode's lead therapeutic candidate, TTX-MC138. In total, the grant awarded the company nearly $871,000 to help fund further drug development. CEO Michael Dudley said the grant will help fund a first-in-human study of TTX-MC138 in patients with metastatic disease. Shares of RNAZ are up 11.6% on active premarket trading volume in response to the NIH grant. My Take: Sounds like this company has a promising drug candidate on deck. The only problem is, it could take years before a major catalyst materializes. RNAZ could be worth watching, but be patient. GainersKineta [KA] >> +17.6%180 Life Sciences [ATNF] >> +18.7%Ricebran Tech [RIBT] >> +15.1%DeclinersSecoo Holding [SECO] >> (20.5%)Guardforce AI [GFAI] >> (7.2%)Deep Medicine SPAC [DMAQ] >> (10.7%) Conagra Brands, Inc. [CAG] ... AM
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