Sparking Small-Cap Triumph: Key Catalysts and Critical Levels Ahead (AVGR, LITM, SMX, KDLY, CHRO)
7/21/20247 min read
Navigating the volatile world of penny stocks requires a sharp grasp of upcoming catalysts and crucial levels that can significantly influence their direction. In this article, we demystify the complexities of five high-risk, high-reward penny stocks, highlighting the imminent catalysts and key levels that demand attention from savvy investors.
Avinger, Inc. (NASDAQ: AVGR) - Avinger, Inc. shares closed last week's trading session flat at $1.76. In May, the company reported its First Quarter 2024 results, highlighting the initiation of Phase III verification and validation studies for its proprietary image-guided coronary CTO-crossing system. This is in preparation for an IDE submission anticipated in the third quarter of 2024. "We are excited to commence Phase III verification and validation studies for our innovative coronary CTO solution in preparation for filing an IDE application later this year," said Jeff Soinski, Avinger's President and CEO. "We believe that our proprietary image-guided approach has the potential to offer superior, simplified, and more predictable clinical outcomes for crossing chronic total occlusions in the coronary arteries. This innovation could redefine a large and underserved market, while immediately accessing established reimbursement codes for both coronary CTO-crossing and OCT-diagnostic imaging following clearance." In early June, Soinski further announced, "We are streamlining operations for our peripheral business to reduce operating costs while ensuring this important therapy remains available to physicians who use our proprietary image-guided devices to address critical medical conditions. We continue to support our strategic partner's efforts to achieve regulatory registration of our image-guided products in the greater China market and anticipate the U.S. commercial launch of our new Pantheris LV image-guided atherectomy catheter in the third quarter of this year." As we await further updates from the company, we will be watching for a resistance break at $1.86 for potential upward momentum.
--
Snow Lake Resources Ltd. (NASDAQ: LITM) - Snow Lake Resources Ltd. shares ended last week's trading session up 17%, closing at $0.73. Earlier this month, the company provided a corporate update on its portfolio of clean energy mineral projects. "Having assembled a global portfolio of uranium and lithium projects, we feel we have positioned Snow Lake to benefit from both the clean energy transition and the electric vehicle (EV) transition," commented Frank Wheatley, CEO of Snow Lake. "With exploration crews either in the field or preparing to mobilize, we have high hopes for this exploration season." Acquisition Terms and Conditions: Snow Lake has entered into a binding letter of intent (LOI) with a private British Columbia company (the "Vendor"). According to the LOI, Snow Lake will acquire up to 85% of Namibia Minerals and Investment Holdings (Proprietary) Limited (the "Project Company"), a private Namibian company that owns the Exclusive Prospecting License- 5887 for the Engo Valley Uranium Project. The First Stage Shares will be issued subject to the satisfactory completion of due diligence on the Vendor, the Project Company, and the License by July 14, 2024. As we await further details from the company, we will be monitoring the resistance area break at $0.78, especially given the increased trading volume observed on Friday.
--
SMX (Security Matters) PLC (NASDAQ: SMX) - SMX(Security Matters) PLC shares ended last week's trading session down 2%, closing at $6.23. This month, the company announced a collaboration with Tradepro Inc., based in Miami, Florida. This partnership aims to complete semi-industrial testing for marking PCR (post-consumer recycled) materials, assisting U.S. organizations in transitioning from linear to circular reporting operations for plastics and enhancing material efficiency in the sector. Both SMX and Tradepro Inc. are excited to advance digital tracking, tracing, and reporting across the U.S. plastic supply chain using SMX's platform and physical markers. In a June filing, the company disclosed a strategic partnership with Brink’s, set to deploy SMX’s technology for gold marking, auditing, and storage. The technology will be utilized by Brink’s to ensure unbiased gold marking and auditing in Dubai, with operations expected to begin in the third quarter of 2024. Additionally, on November 28, 2023, SMX announced the upcoming launch of a plastic cycle token, slated for release in the third quarter of 2024. This initiative aims to offer a reliable, ethical digital credit platform to leverage billions in recyclable plastic credits, positioning the SMX Plastic Cycle Token as a next-generation alternative to carbon credits. Each token will represent a quantifiable amount of recycled plastic, marked using SMX’s technology, with potential implications for environmental circularity. As we await further updates from the company, we will be monitoring whether $6.00 support holds or if there is a potential resistance break at $6.60.
--
Kindly MD, Inc. (NASDAQ: KDLY) - Kindly MD, Inc. shares ended last week's trading session up nearly 3%, closing at $2.87. In June, the company announced receiving additional credentialing, now contracted with Blue Cross Blue Shield, one of Utah's top insurance payors. "The addition of Blue Cross Blue Shield under Utah's leading insurance payors reflects our commitment to transforming healthcare and making a meaningful difference in people's lives," said Tim Pickett, PA-C, founder and CEO of KindlyMD. "We are dedicated to ensuring accessible, quality behavioral healthcare for all our patients. With our services now covered by leading insurance providers statewide, we can serve more patients with commercial medical insurance, leading to anticipated growth in patient volume and revenue across all our clinics." KindlyMD is Utah's largest alternative pain treatment facility, having treated over 60,000 patients to date. The facility ensures safe opioid use, appropriate dosing, weaning plans, and behavioral health support when necessary. KindlyMD is also one of the largest providers of medical evaluation and management services for treatment recommendations within Utah's medical cannabis program. The company's healthcare professionals educate patients about medical cannabis, helping them decide if it could be a beneficial alternative treatment option. In June, KindlyMD also announced its successful registration on SAM.gov, the official U.S. federal funding platform. This achievement enables KindlyMD to apply for federal grants and contracts, including those with the Department of Veterans Affairs, opening up a wide range of federal funding opportunities essential for advancing its mission of providing comprehensive healthcare solutions. As we await further updates, we will be watching for a potential resistance break at $3.05, especially as the public comment period for the Drug Enforcement Administration’s (DEA) proposal to reclassify marijuana as a Schedule III substance under the Controlled Substances Act nears its July 22 deadline.
--
Chromocell Therapeutics Corporation (NYSE: CHRO) - Chromocell Therapeutics Corporation shares ended last week's trading session at $1.11, down over 3%. In a filing from the company in May, they stated, "We have formally launched two programs developing pain treatment therapeutics, both based on the same proprietary molecule, Neuropathic Pain: CC8464." Neuropathic Pain: CC8464 is being developed to address certain types of neuropathic pain. Its chemical characteristics restrict its entry into the central nervous system (CNS), limiting its effect to NaV1.7 receptors in the peripheral nervous system, which consists of nerves outside the brain and spinal cord. This design minimizes the risk of CNS-mediated side effects, such as addiction and euphoria. Preclinical and Phase 1 studies suggest that CC8464 could become an attractive option for treating moderate-to-severe pain in Erythromelalgia (EM) and idiopathic small fiber neuropathy. The dose escalation trial is expected to begin in the third quarter of 2024, enrolling approximately 20 healthy volunteers over nine weeks, with the trial anticipated to last about nine months. The primary endpoint will be the safety and tolerability of the slower dose titration, with secondary endpoints including blood concentration measurements to understand CC8464's pharmacokinetics. Licensing Agreement and New Pipeline: On December 23, 2023, Chromocell entered into an exclusive licensing agreement with Benuvia Operations LLC for several spray formulations, including Diclofenac, Rizatriptan, and Ondansetron. This agreement diversifies Chromocell's pipeline of non-opioid pain treatments and adds therapeutic options for related conditions. The patented sublingual Diclofenac spray for acute pain has started clinical development in human volunteers. While specific development plans for the Benuvia-licensed spray formulations are not yet finalized, Chromocell plans to develop clinical programs for each formulation starting in the third quarter of 2024. The company aims to bring these formulations to market through the FDA 505(b)(2) regulatory pathway, pending further consultation with the FDA. As we await additional updates from the company, we will be monitoring for a potential resistance break at $1.21 for possible upward momentum.
Disclaimer: All content provided by BigTimePennys Report is for informational purposes only. The information provided should not be considered as a substitute for professional advice, analysis, or guidance. Any investment decisions made based on the information provided are solely at the user's own risk. BigTimePennys Report are not liable for any losses or damages incurred as a result of using this information. BigTimePenny is not operated by a licensed broker, a dealer, or a registered investment adviser. The Securities Litigation Reform Act of 1995 provides safe harbor protection for forward-looking statements made by companies or individuals. It should be noted that any forward-looking statements made by BigTimePennys Report, its authors, are not guarantees of future performance or results. These statements are subject to risks, uncertainties, and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. The content provided by BigTimePennys Report does not constitute an endorsement, recommendation, or solicitation to buy, sell, or hold any securities or investment products. BigTimePennys Report, its authors, do not endorse or recommend any specific investment strategies, securities, or companies. It is crucial to conduct thorough research and seek advice from a qualified professional before making any investment decisions. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. The user assumes full responsibility for the use of the information provided by BigTimePennys Report. BigTimePennys Report, its authors, disclaim any liability for any direct, indirect, or consequential damages arising from the use or reliance on the information provided. Users should exercise their own judgment and discretion when interpreting and utilizing the information provided. Please note that the content provided by BigTimePennys Report is based on available information and sources believed to be reliable. However, market conditions and regulations may change over time, and there may be inaccuracies or errors in the information provided. It is recommended to verify the information with current and reliable sources before making any investment decisions. Investing in micro-cap companies is highly speculative and carries an extremely high degree of risk. BigTimePenny is not a fiduciary by virtue of any person's use of or access to this content. We were NOT compensated for this article.
Disclaimer: Penny stock trading involves substantial risk, so always research every alert before trading, consult with a licensed professional before trading, only invest what you can afford to lose, and always trade with caution. Readers should independently investigate and fully understand all risks before investing. Results listed are NOT typical and individual results may and most likely will vary. Bigtimepennystocks.com and its staff are NOT licensed investment advisors or broker/dealers of any kind.Alerts are not a solicitation or recommendation to buy/sell/hold securities but merely investment ideas that should NEVER serve as the basis of your trading decisions. Bigtimepennystocks.com and its newsletter are for entertainment purposes only. This website and its reports are for general information purposes as we are engaged in the business of marketing and advertising companies for monetary compensation. Any investment decision should be discussed with a financial adviser before taking place. Please invest carefully and read investment information available at the website of the SEC at http://www.sec.gov.
Subscribe to our Free Newsletter
Copyright © 2023 BigTimePennyStocks.com - All Rights Reserved.