Kazia Therapeutics [KZIA] - Last Close: $1.17
Kazia Therapeutics just landed a major regulatory win.
This morning, the FDA awarded a Fast Track Designation (FTD) to Kazia's lead product, paxalisib, as a combination treatment for solid tumor brain metastases.
Kazia says the designation will provide enhanced access to FDA regulators, and the drug may also be eligible for Accelerated Approval and Priority Review.
Paxalisib was previously granted FTD for glioblastoma in 2020, so this is its second opportunity to access the benefits of the designation.
KZIA is one of today's top movers with a 22.2% gain on elevated premarket trading volume.
My Take: KZIA's paxalisib appears to be on the right path, and it could provide more catalysts for the stock in the months ahead.
Mullen Automotive [MULN] - Last Close: $0.1709
Mullen Automotive is heating up in today's premarket.
Yesterday, the EV maker announced the hiring of Christian Attar to combat the naked short-selling of its shares.
Mullen said it made the decision after it received reports that it was the target of a "market manipulation scheme" involving illegal naked short selling.
The company hired Attar in partnership with Warshaw, Burstein, LLP to investigate and expose any wrongdoing.
The news sparked a 69.3% rally in shares of MULN on Wednesday, and the rally is continuing in today's premarket.
MULN is currently up 45.5% on elevated premarket trading volume.
My Take: MULN appears to be in big trouble. Shares were going for $10 just six months ago. There could be opportunities for short-term gains here, but the stock's long-term trajectory doesn't seem promising.
