Small-Cap Breakthroughs: Unveiling Key Catalysts for Success (ASTI, QLGN, WLDS, BJDX, UPC)

In the ever-changing world of stock investing, small-cap gems hold the power to deliver game-changing returns. These under-the-radar companies thrive on unique catalysts that can catapult them to new heights. Today, we spotlight five standout small-cap stocks and the key drivers sparking their rise and investor excitement.

Ascent Solar Technologies, Inc. (NASDAQ: ASTI) - Ascent Solar Technologies, Inc. shares closed last week at $2.50, marking a modest gain of nearly 1%. The company has remained relatively quiet since implementing a reverse stock split in August. In May, Ascent announced it had received a firm order from a leading mega-constellation satellite manufacturer for initial delivery of photovoltaic (PV) modules for evaluation. The delivered modules will undergo extensive testing for integration into the manufacturer's next-generation hardware. If the on-orbit evaluation in low Earth orbit (LEO) is successful, Ascent plans to collaborate with the customer to design and produce its Plug and Fly™ solar arrays, with delivery expected as early as Q4 2024 or Q1 2025. These arrays are designed to power next-generation satellites, offering significant reductions in part count, weight, and system complexity. Additionally, the company has begun developing prototype solar arrays in partnership with the University of Stuttgart’s Institute for Building Energetics, Thermotechnology, and Energy Storage (IGTE). IGTE is an internationally recognized research center specializing in energy storage, renewable energy, and indoor climate technologies. CEO Paul Warley commented, “Ascent continues to establish partnerships that position our proprietary CIGS thin-film technology with top-tier organizations, like the University of Stuttgart IGTE, to drive the next wave of sustainable power generation technology. Their expertise in system development, testing, and innovation makes them an excellent partner.” Wewill be monitoring for a potential breakout above the $2.60–$2.65 resistance level, especially with increased trading volume.

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Qualigen Therapeutics, Inc. (NASDAQ: QLGN) - Qualigen Therapeutics, Inc. shares closed last week at $4.83, reflecting a 9% gain. The company recently announced definitive securities purchase agreements with several institutional and accredited investors for the sale of preferred shares. Qualigen issued 4,500 Series A-2 Preferred Shares, each with a stated value of $1,000, generating gross proceeds of $4.5 million before fees and expenses. These shares are initially convertible into 1,236,263 common shares at a conversion price of $3.64 per share. According to the company’s latest filing, Qualigen is an early-clinical-stage therapeutics company focused on developing treatments for adult and pediatric cancers. Its pipeline includes the early-clinical-stage program QN-302 and the preclinical Pan-RAS program. QN-302: This lead candidate is a small molecule G-quadruplex (G4)-selective transcription inhibitor designed to stabilize G4 structures in cancer cells, such as pancreatic cancer, potentially inhibiting cancer cell proliferation. QN-302 is currently in a Phase 1a clinical trial at START Midwest in Grand Rapids, Michigan, and HonorHealth in Scottsdale, Arizona. Pan-RAS Program: This preclinical program features small molecules targeting mutated RAS oncogenes, which are implicated in approximately 25% of all cancers, including pancreatic, colorectal, and lung cancers. These molecules aim to block mutated RAS proteins from binding to effector proteins, potentially halting cancer progression. On its website, Qualigen stated plans to launch a Phase 1, multicenter, open-label study of intravenous QN-302 for advanced or metastatic solid tumors in the second half of 2023. The study will assess safety, pharmacodynamics, and pharmacokinetics, with at least 24 patients expected to complete dosing by the end of 2024. This effort is partially funded by proceeds from the July 2023 divestiture of the company’s diagnostics business. Wewill be monitoring for a potential breakout above the $5.15 resistance level.

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Wearable Devices Ltd. (NASDAQ: WLDS) - Wearable Devices Ltd. shares surged 29% last week, closing at $1.88. In October, the company announced an innovative collaboration with TCL-RayNeo™, a leader in augmented reality (AR) technology, to develop a mass-market neural interface wristband for AR glasses. The partnership aims to showcase how neural interface wristbands can seamlessly integrate with AR devices, enabling hands-free, gesture-based interactions in augmented and mixed reality environments. This collaboration marks a significant step toward more intuitive, immersive user experiences, with plans to bring the product to market as early as next year. For context, Meta recently announced its entry into gesture control, unveiling a neural wristband as a prototype for smart glasses. Meanwhile, RayNeo continues to push AR innovation with cutting-edge glasses that overlay digital content onto the real world. By combining RayNeo's advanced AR hardware with Wearable Devices' neural gesture control technology, the collaboration paves the way for truly hands-free interactions, advancing possibilities in the extended reality (XR) market. This partnership highlights the exciting potential of integrating AR and neural input technologies to redefine smart wearables. Last week, Wearable Devices introduced its Neural Wristband category, featuring the Mudra Band and Mudra Link. These groundbreaking products use proprietary Surface Nerve Conductance (SNC) technology to detect neural signals and wrist movements, enabling users to control digital devices with intuitive gestures. As demand for face-worn devices grows, driven by new products from brands like Meta and Snap, neural wristbands offer a compelling solution for hands-free control, enhancing user experience and immersion. The Mudra Band and Mudra Link stand out as consumer-ready neural wristbands, seamlessly connecting to Apple, Android, Windows, and macOS devices for versatile, easy integration across digital environments. Wewill be monitoring for a potential breakout above the $2.00 resistance level or sustained support around the upper $1.60 level as we await further updates from the company.

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Bluejay Diagnostics, Inc. (NASDAQ: BJDX) - Bluejay Diagnostics, Inc. shares closed last week up nearly 1%, finishing at $3.52. Early in the week, the company executed a reverse stock split, reducing its public float to just under 600,000 shares. In June, Bluejay announced results from the primary analysis of SYMON-I, a multicenter pilot study evaluating interleukin-6 (IL-6) levels in patients diagnosed with sepsis and septic shock. The study assessed the prognostic utility of IL-6 upon ICU admission. The analysis (clinical trial number NCT06181604) indicated that IL-6 levels within 24 hours of diagnosis and ICU admission may predict patient mortality over 28 days. These findings will be further validated in the SYMON-II pivotal study. Dr. Mark Feinberg, Chief Medical Advisor to Bluejay Diagnostics and Associate Professor of Medicine at Harvard Medical School, stated, “These results reflect the dedication of our team and the collaborative efforts across centers. Understanding IL-6 as a prognostic biomarker for mortality and other critical care endpoints may inform its integration into sepsis management, potentially saving thousands of lives annually.” According to the company’s most recent quarterly filing, Bluejay initiated the SYMON-II pivotal clinical study in Q3 2024 and plans to begin patient enrollment in Q4 2024. The study will utilize the Symphony IL-6 test to complete the trial. Wewill be monitoring for a potential breakout above the $3.75 resistance level as we await further updates.

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Universe Pharmaceuticals Inc. (NASDAQ: UPC) - Universe Pharmaceuticals Inc. shares closed last week with a 7% gain, ending at $1.93. In September, the company released its unaudited financial results for the first six months of fiscal year 2024, which ended on March 31, 2024. Chairman and CEO Gang Lai commented, “In the first half of fiscal 2024, we navigated business uncertainties and adjusted our strategies to counter the effects of the global economic slowdown. We reported $12.9 million in revenue for the period, compared to $18.5 million in the same period last year. Despite the challenges, we made significant efforts to implement growth strategies, including developing online sales channels alongside our offline ones. This approach allowed us to seize new opportunities, and we anticipate online sales will drive future growth in the rapidly evolving market. By emphasizing digital marketing and expanding our presence on e-commerce platforms, we aim to enhance brand recognition, reach more customers, and scale our business. Moving forward, we plan to continue executing our expansion strategy to increase market penetration, grow our customer base, and create long-term shareholder value.” As we await further updates, we will be watching for a potential breakout above the $2.15 resistance level with increased volume, as positive signals emerged on the hourly chart indicators at the end of last week.

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