My Take: I would expect to see some volatility in ACAQ in the coming weeks, but don't assume a vote to extend will push shares higher, as this could be a "buy the rumor, sell the news," scenario.
Tempest Therapeutics [TPST] - Last Close: $0.2399
A clinical update is skyrocketing shares of Tempest Therapeutics.
The oncology company released new data demonstrating the superiority of its TPST-1120 arm in a global Phase 1b/2 study.
Tempest CEO said the new analysis shows "an even greater benefit than earlier interim analysis of the TPST-1120 triplet therapy over standard of care alone."
Overall, the drug candidate produced superior treatment outcomes when combined with atezolizumab to treat metastatic hepatocellular carcinoma patients.
The company will host a webcast conference call to discuss the results at 8:30 a.m. ET.
TPST is far-and-away today's top stock, with a 358.3% gain in early trading.
My Take: This is a major move for TPST, but it could be overdone. Be wary of a pullback.
Matinas Biopharma Holdings [MTNB] - Last Close: $0.1550
New drug data is also lifting shares of Matinas Biopharma.
Minutes ago, the tiny biopharma firm said a patient with infected with Candida krusei achieved complete clinical resolutions with MAT2203.
MAT2203 is Matinas’ oral formulation of amphotericin B., an antifungal agent.
The patient's attending physician said they were "thrilled with the positive clinical impact MAT2203 had on this extremely ill patient with limited treatment options."
Shares of MTNB are up 52.8% in the premarket.
My Take: MTNB's chart is pretty ugly, but it's shown signs of life lately. Volume has spiked in recent days, so this rally might have legs.
Agilethought [AGIL] - Last Close: $0.1431
Agilethought is up after a favorable court ruling.
After Tuesday's close, the company said a bankruptcy court entered an order approving bidding procedures between it and proposed buyer, Stalking Horse.
The court decision clears the way for Stalking Horse to acquire some assets from the company in exchange for assuming $100 million in specified liabilities.
The court's ruling lifted AGIL to a 31.9% premarket gain.
My Take: AGIL is in bankruptcy, so its long-term trajectory isn't good. However, there could be some short-term trade opportunities ahead, thanks to its volatility.
