ThermoGenesis [THMO] - Last Close: $4.19
ThermoGenesis has been on an absolute tear over the past 24 hours.
Wednesday afternoon, the healthcare technology firm announced plans to launch a California facility for early-stage life science and cell gene therapy firms.
The new facility will be in the Sacrament metro area, and it will contain 12 ReadyStart Current Good Manufacturing Process (CHMP) suites.
The CGMP suites will be available for lease for growing life sciences companies, and they will include resources for proper control, design, and manufacturing.
ThermoGenesis said the facility will be open in Q2 or Q3, and it will generate up to $16 million in revenues if fully occupied.
THMO gained 98.5% after making the announcement on Wednesday, and it's up another 55.1% in today's premarket.
My Take: I'm not sure how much gas this rally has left in the tank. Share prices are up more than 3X since yesterday's open, and this micro-float stock could sell off quickly if the market decides to cash out this trade.
OKYO Pharma [OKYO] - Last Close: $1.75
New drug data is lifting shares of OKYO Pharma today.
The London-based drug company announced that Phase 2 trial data of OK-101 to treat dry eye disease (DED) is now listed on the ClinicalTrials.gov website.
OKYO said its in the process of activating clinical sites planned for the trial and preparing drug product OK-101 for deliver to those sites.
The company expects to initiate the trial in early Q2 2023, and it hopes to have top-line data from the trial by the fourth quarter.
News of OKYO's progress towards a clinical trial is rallying shares to a 32.0% gain on elevated premarket trading volume.
My Take: The market appears to have high hopes for this drug trial. However, OKYO has been on a slide since last week, so this rally may be somewhat exaggerated due to the rebound effect.
PureCycle Technologies [PCT] - Last Close: $4.77
PureCycle Technologies is moving higher after a quarterly update.
Late Wednesday, the recycling company reported a fourth quarter update ahead of its upcoming earnings report, and the market liked what it saw.
PureCycle announced several promising business updates, including the securing of a $150 million line of credit to be available for working capital purposes.
The company also announced its flagship project in Ohio is "nearly mechanically complete," and it selected the Port of Antwerp, Belgium, for its first Euro facility.
PCT is expected to report earnings before the opening bell, but, so far, there's nothing on the wires.
PCT is one of this morning's top performers with a 27.0% gain.
My Take: Shares are building steam ahead of the earnings report, but this could be a "buy the rumor, sell the news" scenario so watch out for a post-earnings pullback.
