Avalo Therapeutics [AVTX] - Last Close: $4.75
This tiny biotech is surging after announcing a new acquisition alongside a private placement financing round of up to $185 million.
Avalo acquired a Phase 2-ready drug candidate, AVTX-009, via a deal with AlmataBio.
The private placement deal includes an initial upfront investment of $115.6 million, and it’s expected to extend the company’s cash runway into 2027.
AVTX is up 350.3% on over 2 million shares traded.
My Take: AVTX is getting a big boost from this news, so this drug could be a very coveted commodity.
Andretti [WNNR] - Last Close: $10.30
SPAC sock Andretti is rallying ahead of its business combination with Zapata AI, which is expected to close today, according to a Mar. 25th 8-K filing.
Zapata AI is a Boston-based start-up seeking to apply “quantum math” techniques and other innovations to processing of generative AI models.
Upon closing, Zapata AI will begin to trade on the NYSE under the ticker ZPTA.
WNNR is up 31.9% on over 60K shares traded.
My Take: WNNR’s imminent deal is giving shares a boost, but these SPAC rallies sometimes collapse once the deal is closed. If you want to buy into
ZPTA, you might be wise to wait for a post-closing pullback.
Xilio Development [XLO] - Last Close: $0.6390
Xilio Development landed an exclusive deal to license its IL-12 program, including XTX301, to Gilead Sciences [GILD] for cash & equity investment.
The tumor-activated molecules have the potential to treat a broad range of cancers.
Gilead paid $30 million in cash and made a $13.5 million equity investment in Xilio under the terms of the deal.
XLO is up 214.0% on over 8.5 million shares traded.
My Take: This blockbuster deal puts XLO on Big Pharma’s map. This could be a speculatively worth monitoring.
Akanda [AKAN] - Last Close: $0.1649
Akanda is surging after the successful closing of a $5 million underwritten public offering of its common stock priced at $0.1217 per share.
The offering was made pursuant to a Form F-1 shelf registration statement filed with the SEC on March 19th.
AKAN is up 99.4% on roughly 15 million shares traded.
My Take: AKAN had a big rally last week but it has struggled to gain ground in recent days after a sudden pullback on Monday. This rally could help it get back to its positive trend.
