Snap One [SNPO] - Last Close: $8.14
Micro-cap smart living company Snap One has agreed to be acquired by Resideo Technologies [REZI] in an all-cash deal valued at $1.4 billion.
SNPO investors will receive $10.75 per share in cash upon closing, representing a 32% premium over Friday’s closing bid.
The deal is expected to close sometime in the second half of the year.
SNPO is up 30.7% on over 100K shares traded.
My Take: As is usually the case with this type of catalyst, the rally has already closed the gap between SNPO’s Friday bid and the proposed acquisition price, so there’s not enough upside potential at this point.
Organovo Holdings [ONVO] - Last Close: $1.0101
Newly published clinical data shows Organovo’s fatty liver disease drug, FXR314, produced promising results in a Phase 2 trial.
The drug was shown to reduce liver fat, and it was generally found to be safe & well tolerated among the patient pool.
Organovo plans to present detailed findings of this study at an unspecified upcoming conference.
ONVO is up 31.6% on over 4 million shares traded.
My Take: ONVO could get a boost from the upcoming conference presentation, but there’s a good chance most of the good news will be priced into the stock by then.
Longeveron [LGVN] - Last Close: $1.69
This tiny pharma firm just announced it will present clinical data from its CLEAR MIND randomized Phase 2a trial of Lomecel-B for mild Alzheimer’s disease.
The company will present the data on Sunday, July 28th, at a “Featured Research Session.”
Longeveron will also make a poster presentation at the 2024 Alzheimer’s Association International Conference, running July 28 – August 1, 2024.
LGVN is up 50.8% on over 6 million shares traded.
My Take: These presentations could provide a mid-Summer catalyst of LGVN, but it’s only April and a lot can happen in 3 months. Mark your calendar, but wait for a better opportunity to jump in.
Soligenix [SNGX] - Last Close: $0.3861
The U.S. Food & Drug Administration has grated Soligenix an Orphan Drug Designation to the active ingredient in MarVax™.
MarVax™ is a vaccine designed for “the prevention and post-exposure prophylaxis against MARV infection."
Orphan drug designations provide incentives for drug makers to develop therapies to treat rare diseases and disorders.
SNGX is up 81.3% on over 23 million shares traded in response to the news.
My Take: SNGX has been locked into a slide since mid-March, but maybe this news can help it pivot into a more favorable trend line.
