Small-Caps Catalyst Watch: What's Next? (GRI, AZTR, GNPX, FANH, RLYB)

Each week, we dive into a sea of near-term catalysts, hunting for the next small-cap gem poised to shine. We spotlight five small-cap companies with promising potential, focusing on key indicators like resistance level breaks, unusual volume, and consolidation patterns—without trying to predict the stock’s bottom.

GRI Bio Inc. (NASDAQ: GRI) - GRI Bio Inc.'s shares closed last week's trading session nearly 2% higher at $0.52. Earlier in July, the company announced that Vipin Kumar Chaturvedi, PhD, Chief Scientific Officer of GRI Bio, will be presenting at the 8th Annual IPF Summit from August 20-22, 2024, in Boston, MA. Additionally, in July, GRI Bio shared progress on its lead program, GRI-0621, a small molecule RAR-βɣ dual agonist candidate. This candidate is being evaluated in a Phase 2a randomized, double-blind, multi-center, placebo-controlled, parallel-design, 2-arm study for the treatment of IPF. Interim data from the Phase 2a biomarker study is anticipated in the third quarter of 2024, with topline results expected in the fourth quarter. As we await further updates from the company, we will be monitoring for a resistance break at $0.54, which could indicate potential upward momentum.

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Azitra Inc. (NYSE: AZTR) - Azitra Inc.'s shares surged 33% last week, closing at $0.67 after reaching an intraday high of $0.97. At the end of July, the company announced the successful closing of its previously disclosed public offering, which included 6,665,000 shares of common stock and Class A warrants to purchase up to 13,330,000 shares, at a combined price of $1.50 per share and accompanying warrants. In a July filing, Azitra provided updates on ATR-12, a genetically modified strain of S. epidermidis for treating Netherton syndrome, a rare and potentially fatal skin disease affecting approximately one to nine in every 100,000 individuals, though it may be underdiagnosed due to similarities with other skin conditions. ATR-12 received Pediatric Rare Disease Designation from the FDA in 2019. In December 2022, the company submitted an investigational new drug (IND) application for a Phase 1b clinical trial in Netherton syndrome patients, and on January 27, 2023, received FDA approval to proceed with the study. The Phase 1b trial began in December 2023, and initial safety results are expected in the second half of 2024. Additionally, ATR-04, another genetically modified strain of S. epidermidis, is being developed to treat the papulopustular rash experienced by cancer patients undergoing EGFR inhibitor (EGFRi) targeted therapy. The company plans to submit an IND for a Phase 1b trial in mid-2024, with the trial expected to start in the fourth quarter of 2024, pending FDA clearance. As we await further updates from the company, we will be monitoring for a resistance break at $0.72, which could signal potential upward momentum.

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Genprex, Inc. (NASDAQ: GNPX) - Genprex, Inc.'s shares remained flat at $1.42 by the end of last week's trading session. In the quarterly filing released last week, the company provided an update on its ongoing Phase 1/2 Acclaim-3 clinical trial. The trial is currently in the Phase 1 dose-escalation stage, evaluating a combination of REQORSA and Genentech’s Tecentriq® (atezolizumab) as maintenance therapy for patients with extensive-stage small cell lung cancer (ES-SCLC) who did not experience tumor progression after initial treatment with Tecentriq and chemotherapy. Patients will continue receiving REQORSA and Tecentriq until disease progression or unacceptable toxicity occurs. The Phase 1 portion of the Acclaim-3 study opened for enrollment in January 2024, with the first patient enrolled and dosed in May 2024. The company anticipates completing the Phase 1 dose-escalation phase and beginning the Phase 2 expansion of the Acclaim-3 study in the second half of 2024. Additionally, the company announced that its President, Chief Executive Officer, and Chief Financial Officer, Ryan Confer, will present an overview of Genprex's gene therapies for cancer and diabetes at the upcoming Sidoti Microcap Conference, scheduled for August 14-15, 2024. As we await further updates from the company, we will be watching for a resistance break between $1.55 and $1.60, which could indicate potential upward momentum.

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Fanhua Inc. (NASDAQ: FANH) - Fanhua Inc. shares ended last week's trading session up 4%, closing at $1.46. In early July, the company announced that its board of directors had authorized an additional $20 million for its share repurchase program, bringing the total authorized amount to $40 million. This program is aimed at enhancing shareholder returns and reflects the company's confidence in its long-term growth prospects. Share repurchases will be conducted in the open market at prevailing market prices and/or through privately negotiated transactions, depending on market conditions, in line with applicable rules, regulations, and the company’s insider trading policy. Fanhua plans to fund the share repurchase program with its available cash reserves, while senior executives and directors will contribute their personal funds. The company emphasized its proactive and effective measures in response to rapid industry changes, which have helped maintain stable operations. Supported by strong cash generation capabilities, Fanhua’s balance sheet remains robust, providing significant financial flexibility to execute growth strategies for sustainable long-term growth. The company also reported significant progress in its intelligent strategic upgrades, with the AI agent "Du Xiaobao," developed in collaboration with Baidu Smart Cloud, set to launch in August. As we await further updates from the company, we will be monitoring for a resistance break at $1.50, which could signal potential upward movement.

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Rallybio Corporation (NASDAQ: RLYB) - Rallybio Corporation's shares ended last week's trading session down 4%, closing at $1.14. The company recently reported its second-quarter financial results for the period ending June 30, 2024, and provided updates on key developments. Rallybio remains on track to initiate a Phase 2 trial in the fourth quarter of 2024 for pregnant women at higher risk of HPA-1a alloimmunization and FNAIT. In the second half of 2024, the company expects several presentations and publications, including additional data from the Phase 1b proof-of-concept study and the rationale behind the RLYB212 Phase 2 dose regimen. The manufacturing of RLYB116 is progressing as planned and is expected to be completed by the third quarter of 2024. Early drug substance characterization data suggests that Rallybio's efforts to improve the manufacturing process have been successful. Additionally, ongoing complement biomarker analysis for RLYB116 will provide full data by the fourth quarter of 2024, further expanding the understanding of the Phase 1 multiple ascending dose (MAD) study results completed in late 2023. For RLYB332, the company anticipates presenting nonclinical data in the fourth quarter of 2024, highlighting favorable tolerability, dose-dependent pharmacokinetics, and sustained pharmacodynamic effects of this long-acting version of the RLYB331 anti-matriptase-2 antibody. Regarding the ENPP1 inhibitor in partnership with Exscientia, Rallybio and Exscientia aim to nominate a development candidate for the treatment of hypophosphatasia (HPP) in the fourth quarter of 2024. Data from an early lead compound in a nonclinical HPP model will be presented at the American Society for Bone and Mineral Research (ASBMR) meeting, scheduled for September 27-30, 2024, in Toronto, Canada. As we await further updates from the company, we will be monitoring for a resistance break at $1.20 and for the $1.00 support level to hold.

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