Today's Hottest Premarket Stocks 🔥

The Nasdaq rallied 1.0% on Tuesday after comments from Federal Reserve Chairman Jerome Powell. The Dow gained 0.5%, and the S&P 500 added 0.7%. The small-cap Russell 2K jumped 1.4%.

This morning, futures are showing muted gains. S&P 500 and Dow contracts are up 0.2%.

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ProKidney is trending after a clinical update.

The clinical-stage cellular therapeutics company published the design and early data from a Phase 2 clinical trial of REACT after Tuesday's closing bell.

The study examined REACT, or Renal Autologous Cell Therapy, in late stage-4 diabetes-related chronic kidney disease (CKD) patients.

A company rep said that, so far, the study showed REACT's potential to delay the need for dialysis in patients with late CKD Stage 4 diabetic kidney disease.

The drug also produced some promising therapeutic effects.

PROK is one of today's top premarket performers with a 26.7% gain.

My Take: PROK suffered a steep pullback last month, but today's rally could help the tiny biotech stock right the ship.

Biora Therapeutics is on a hot streak.

The company soared 156% on Tuesday after it announced pre-investigational new drug applicaiton feedback from the FDA on PGN-600.

Biora said it remains on track for its initial new drug fling for PGN-600 and a subsequent clinical trial.

CEO Adi Mohanty said, "The recent Type C response from the FDA further strengthens our confidence in our plans..."

The new drug filing is expected within the first half of 2023, with the trial initiation following sometime in Q2.

BIOR is adding to its Tuesday gains with another big rally in today's premarket. Shares are up 50.5% on active trading volume.

My Take: BIOR's short percentage was an insanely high 141.11% as of Dec. 15th, and the company's recent clinical update caught the shorts in a bad spot. Now, this stock is running wild, but I think the rally is in its late stages.

News of a big purchase order is giving Broadwind a big boost.

The industrial fabricator announced late Tuesday that it had landed a $175 million purchase order from a global wind turbine manufacturer.

Under the terms of the deal, Broadwind will provide towers for the unnamed company's turbines that will be built at its Abilene and Manitowoc facilities.

Fulfillment of the order will begin in 2023 and conclude sometime around the end of 2024.

BWEN is skyrocketing on news of the order. Shares are up 69.9%, and it's one of the morning's most actively-traded stocks.

My Take: This is a big deal for a company with a $46 million market cap. The green energy angle could also be an interest point for investors. BWEN could be worth watching in the days ahead.

Hepion Pharma is moving higher after a drug update.

After Tuesday's closing bell, the biopharma firm published preclinical study data from its lead drug candidate, rencofilstat, in a presentation in Tampa, FL.

The study showed a combination of rencofilstat & ixazomib killed 70% to 90% of cancer cells over a two-day period.

Hepion also noted that the drug caused only mild stress in non-cancer cells.

The company said the study opens up new opportunities for investigation of rencofilstat as a potential cancer treatment.

Rencofilstat is already undergoing Phase 2 trials as a potential treatment for non-alcoholic steatohepatitis.

The clinical update sparked a rally in HEPA. The stock is 42.6% in early-morning trading.

My Take: HEPA could have more catalysts in its future if it initiates a new round of clinical trials exploring rencofilstat as a potential cancer treatment. Plus, the drug is still undergoing Phase 2 trials for NASH that, if successful, could give the stock another reason to rally.

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