Small-Cap Power Plays: Timely Breakouts & Near-Term Catalysts (ATXI, BNRG, APVO, SPRB, ELWS)

Diligently stalking five hot prospects, we're diving deep into a handpicked crew of five standout low-priced stocks for the week. It’s all about spotting those juicy catalysts that could kick things into high gear and nailing down the breakout and resistance spots. Anticipating the next big pop and zeroing in on those sweet entry points is key. Keep cool and steady to navigate the dips and wait for the all-clear from significant breakouts before making your move.

Avenue Therapeutics, Inc. (NASDAQ: ATXI) - Avenue Therapeutics, Inc. shares concluded last week's trading session at $3.48, a slight decline of just under 1%. In May, the company announced the completion of the final visit by the last patient in its Phase 1b/2a clinical trial of AJ201, a treatment for spinal and bulbar muscular atrophy (SBMA), also known as Kennedy's Disease. Topline data is expected to be reported mid-2024. "We are very excited to announce the last patient visit in the Phase 1b/2a clinical trial of AJ201 in SBMA, the final milestone before the anticipated topline data are reported in the middle of this year," said Alexandra MacLean, M.D., Chief Executive Officer of Avenue. "I want to sincerely thank the trial investigators, the patients, our partner AnnJi Pharmaceutical Co. Ltd., and our internal team for their dedication to completing this study on schedule and for their continued confidence in AJ201." As we await further details, we will be watching closely for a potential resistance break around the $3.65 area.

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Brenmiller Energy Ltd (NASDAQ: BNRG) - Brenmiller Energy Ltd shares ended last week's trading session down a little over 1%, closing at $0.88. In early June, the company announced it had entered the construction phase at Tempo Beverages Ltd.'s production plant in Netanya, Israel, with plans to begin on-site assembly by the end of September 2024. Brenmiller is replacing Tempo's fossil fuel boilers with a 32 MWh bGen™ TESsystem, providing sustainable process heat through an Energy as a Service (EaaS) model. Tempo, partially owned by Heineken International B.V., is one of Israel's largest producers and distributors of beverages, including Heineken and Pepsi. Brenmiller's bGen™ TES system for Tempo will charge using a combination of rooftop solar and ultra-low-cost off-peak grid power. The system is being tailored to meet Tempo's precise operational needs, with the final design expected to be completed by the end of July 2024. As we await further updates from the company, we will be watching for a potential resistance break at the $0.93 mark.

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Aptevo Therapeutics Inc. (NASDAQ: APVO) - Aptevo Therapeutics Inc. shares ended last week's trading session down 5%, closing at $0.31. This month, the company announced an offering of (i) 5,339,806 shares of its common stock or pre-funded warrants in lieu thereof and (ii) warrants to purchase up to 10,679,612 shares of its common stock (the "Common Warrants") at a purchase price of $0.515 per share and associated Common Warrant in a registered direct offering priced at-the-market under Nasdaq rules. In a filing related to this recent offering, the company stated its commitment to advancing its lead clinical blood cancer candidate, APVO436, through clinical development to evaluate its therapeutic potential alone and in combination with other therapies. Based on positive results from its Phase 1 dose escalation and dose expansion studies, Aptevo plans to initiate a dose optimization Phase 1b/2 trial in the second half of 2024, targeting frontline AML patients who will receive a combination of APVO436, Venetoclax, and Azacitidine to assess safety and efficacy and to determine the optimal dose of APVO436. As we await further updates, we will be watching for potential resistance breaks at the $0.36 and $0.40 marks.

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Spruce Biosciences, Inc. (NASDAQ: SPRB) - Spruce Biosciences, Inc. shares ended last week's trading session up a little over 1%, closing at $0.57. In May, the company reported its first quarter 2024 financial results and provided corporate updates. "We are encouraged by key learnings from analyses of data from our CAHmelia-203 clinical trial in adult CAH patients with severe hyperandrogenemia," said Javier Szwarcberg, M.D., M.P.H., Chief Executive Officer of Spruce Biosciences. "In the open-label portion of the study, tildacerfont demonstrated a maximum mean reduction in adrenocorticotropic hormone (ACTH) of 45%, suggesting pituitary target engagement and providing direct evidence of its mechanism of action. Additionally, we observed that higher GC doses at baseline, as well as higher rates of study drug compliance, were associated with larger placebo-adjusted reductions from baseline in androstenedione (A4)." Dr. Szwarcberg added, "These findings underscore the challenges of treating severe hyperandrogenemia within this patient population and reinforce our belief that tildacerfont may have a greater benefit in CAHmelia-204, which is assessing GC reduction in a controlled and more compliant population of adult CAHpatients. We look forward to reporting data from the CAHmelia-204 study in the third quarter of this year." Topline results from the CAHmelia-204 clinical trial in adult classic CAH patients on supraphysiologic doses of GCs with normal or near normal levels of A4 are expected in the third quarter of 2024. Topline interim results from additional dose-ranging in the Phase 2 CAHptain clinical trial are also anticipated in the third quarter of 2024. As we await additional updates from the company, we will be watching for a potential resistance break at $0.61.

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Earlyworks Co Ltd. (NASDAQ: ELWS) - Earlyworks Co Ltd. shares ended last week's trading session up almost 1%, closing at $2.18. At the end of May, the company announced a collaboration with ZenmuTech, Inc. ("ZenmuTech"), headquartered in Chuo-ku, Tokyo, and led by CEO Yoshikazu Taguchi. ZenmuTech specializes in data protection and utilization through "secret splitting technology," which encrypts and manages information across various locations to create a secure digital society where users can utilize their data without concerns about data leakage, hacking, and tampering. By combining the tamper-resistance of blockchain with the data-nullifying technology of secret splitting, Earlyworks and ZenmuTech can now offer strong and fast next-generation data protection. This collaboration aims to create an innovative business model for enterprises in Japan, setting a new standard for data protection by merging blockchain transparency with the robustness of secret splitting. Additional details on this collaboration will be released later this summer. As we await further updates from the company, we will be watching for increased volume and a potential resistance break at $2.30.

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