Small-Caps: Breaking Barriers, Sparking Growth (HSDT, OCTO, PHGE, KTTA, SCNI)

9/22/20245 min read

Discovering small-cap hidden gems can yield significant gains in the stock market. These under-the-radar companies succeed through a mix of key drivers. Today, we highlight five small-cap stocks, diving into the factors that fuel their growth and attract investors.

Helius Medical Technologies, Inc. (NASDAQ: HSDT) - Helius Medical Technologies, Inc. shares closed last week down 1% at $0.81. In August, the company shared its Second Quarter and Recent Business Updates. "Our team has worked tirelessly to bring PoNS to MS patients struggling with gait and balance issues. We're beginning to see results, and during the quarter, we made significant strides in removing obstacles to our innovative technology. Weannounced the first third-party reimbursement for PoNS from a major insurance provider at $23,900 and are just weeks away from CMS publishing final reimbursement rates effective October 1, which we believe will be a key driver for revenue growth and further negotiations with other payers," said Helius' President and CEO, Dane Andreeff. He also noted that the third quarter of 2024 will be a turning point for the company, as they expect initial results from the PoNSTEP study, an expanded VA sales team, and the final CMS reimbursement decision. "I'm proud of what we've achieved so far and excited for the future as we hit these key milestones," Andreeff concluded. As we await further updates, we will be watching for a potential breakout above $0.84-$0.85 with increased trading volume.

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Eightco Holdings Inc. (NASDAQ: OCTO) - Eightco Holdings Inc. shares closed last week at $2.55, up 16%. In August, the company reported its financial results for the quarter ending June 30, 2024, highlighting capital restructuring efforts to strengthen financial stability. CEO Paul Vassilakos, who also heads the company's largest subsidiary, Forever 8 Fund, LLC ("Forever 8"), stated, "The Company remains focused on prioritizing Forever 8, providing inventory capital for e-commerce and refurbished Apple product sellers. We've made significant progress in the first half of 2024, particularly by eliminating $5.4 million in convertible notes, which increased shareholder equity." The repayment of the note reduced the company’s capital base by $5.4 million, contributing to a drop in top-line revenue compared to the same quarter last year. Additionally, the focus on Forever 8 allowed for a reduction in operating expenses. With last week’s higher trading volume, we’ll be watching for another potential breakout above $2.65 or support around the $2.30 range, as well as any new company updates.

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BiomX Ltd. (NYSE: PHGE) - BiomX Ltd. shares closed last week’s trading session at $1.02, down 3%. This month, the company announced plans to present new data from their Phase 1b/2a study of BX004, targeting cystic fibrosis patients with chronic Pseudomonas aeruginosa lung infections. The findings will be shared in two sessions at the North American Cystic Fibrosis Conference in Boston. The first presentation, a poster titled "Safety and Efficacy of Nebulized Phage in CF Patients with Chronic Pseudomonas Aeruginosa Pulmonary Infection: A Phase 1b/2a Randomized, Double-Blind Placebo-Controlled, Multicenter Study," will be showcased on Friday, September 27, 2024, from 1:15-2:15 PM ET, with the lead author present. The poster will be available on the company’s website after the session. On Saturday, September 28, 2024, from 10:15 AM to 12:15 PM ET, in Room 257AB, Urania Rappo, MD, Senior Director of Clinical Development at BiomX, will discuss the findings during Workshop 38, "Epidemiology & Management of Infection in CF." “Our Phase 1b/2a trial continues to receive strong support from the scientific community. It is particularly significant that these results will be highlighted at the prestigious North American Cystic Fibrosis Conference, the leading event in this field. We are excited to engage with the CF community of researchers, advocates, and patients and to delve deeper into these findings and our future plans,” said Jonathan Solomon, BiomX CEO. As we await further updates from the company, we will be watching for a potential breakout above $1.10.

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Pasithea Therapeutics Corp. (NASDAQ: KTTA) - Pasithea Therapeutics Corp. shares ended last week at $4.42, down nearly 8%. This month, the company announced the successful completion of long-term chronic toxicity studies in both rats and dogs for its lead candidate, PAS-004, which is currently in a Phase 1 clinical trial for advanced cancer patients. In the studies, PAS-004 was administered in its crystalline form, showing a similar adverse event profile and equivalent NOAEL in dogs compared to the original amorphous formulation. The crystalline form is being used in the ongoing human trials. "We believe the ability to achieve sustained suppression of the Mitogen-Activated Protein Kinase (MAPK) pathway over a prolonged period will lead to improved efficacy with fewer side effects and reduced toxicity compared to other MEKinhibitors," said CEO Dr. Tiago Reis Marques. "These toxicity studies further validate PAS-004's safety profile and underscore its potential as a best-in-class MEK inhibitor. We look forward to sharing more data, including initial interim pharmacokinetic (PK) and pharmacodynamic (PD) results from our first-in-human Phase 1 study later this quarter." As we anticipate further updates before the quarter's end, we’ll be watching for a potential breakout above $4.70 or continued support around $4.15.

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Scinai Immunotherapeutics Ltd. (NASDAQ: SCNI) - Scinai Immunotherapeutics Ltd. shares closed last week at $3.56, down just over 1%. In late August, the company held its Q2 2024 Results Conference Call, highlighting its pipeline of nanoAb-based drugs with promising preclinical results. The company is preparing for its first human clinical trial of its anti-IL-17A nanoAb and has a strong partnership with the Max Planck Society and UMG in Germany to develop future pipeline products through a research contract. Scinai is targeting diseases with unmet needs and significant commercial potential, using a de-risked strategy by focusing on molecular targets already validated by other monoclonal antibodies but still addressing gaps for specific populations. The company leverages different administration routes and the unique physicochemical properties of its molecules to meet these needs. Additionally, Scinai has engaged in targeted marketing efforts, including online ads, outreach campaigns, and participation in major pharma conferences. They will be attending the EADV Dermatology Conference in Amsterdam from September 25-28, 2024. As we await further updates, we’ll be watching for a potential resistance break around $3.70 or continued support near $3.35.

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