Small-Caps on Watch: Key Catalysts & Breakout Levels (NVNO, DATS, NRBO, SKYQ, LIPO)

Analyzing a select group of five unique small-cap companies for the week ahead requires close attention to upcoming catalysts, breakout potential, and resistance levels. Key strategies include projecting upward movement, pinpointing optimal entry points, and exercising patience to manage risks. This approach helps in navigating potential market pullbacks while awaiting clear confirmation from significant breakout signals.

enVVeno Medical Corporation (NASDAQ: NVNO) - EnVVeno Medical Corporation's shares closed last week unchanged at $3.51. In October, the company reported its third-quarter 2024 financial results. "We are working diligently to gather and analyze the definitive data needed to complete our PMA application, seeking FDA approval for the VenoValve. We look forward to sharing this data publicly," said Robert Berman, CEO of enVVeno Medical. "We’re nearing the results of six years of dedicated work, making this an exciting period for everyone associated with our company." The VenoValve is a surgical replacement venous valve, and four out of five modules for its PMA application have been submitted, reviewed, and approved by the FDA. The company is on track to submit the final module, containing clinical data from the SAVVE U.S. pivotal trial, in the fourth quarter. Definitive data supporting the PMA application is expected to be released at the VEITHsymposium, scheduled for November 19-23, 2024. The company has also made progress with enVVe®, a non-surgical, transcatheter-based replacement venous valve, having successfully initiated a six-month pre-clinical GLP study. The first wave of implants for long-term subjects is complete, with the final wave for shorter-term subjects scheduled for December 2024. Looking ahead, we will watch for a resistance break at $3.65 with increased trading volume.

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DatChat, Inc. (NASDAQ: DATS) - DatChat, Inc. shares closed last week up nearly 7%, ending at $2.15. Late last month, the company announced its acquisition of RPM Interactive, Inc. through a share exchange transaction. Under this agreement, Dragon Interact acquired full ownership of RPMInteractive, including all intellectual property, in exchange for 3.5 million shares of common stock. With this acquisition, Dragon Interact plans to rebrand as RPMInteractive, signaling its new focus on advanced AI-driven technologies for podcasts and gaming. Darin Myman, CEO of DatChat, Inc., commented, "The acquisition of RPM Interactive brings us unique AI technology, positioned to disrupt the trivia gaming, online entertainment, and podcasting industries. This powerful AI opens new possibilities for engaging niche audiences with innovative content, from live trivia competitions to AI-generated podcasts. We’re eager to elevate RPM Interactive by offering smarter, faster, and more personalized entertainment than ever before." Additionally, at the end of October, the company launched Trump Trivia, an AI-powered podcast that offers an immersive trivia experience centered on the well-known Trump family. The first episode is set to debut on November 15, 2024. "Dragon Interact’s mission is to use AI to create captivating, interactive media experiences," Myman said. "With Trump Trivia, we’re introducing a new level of interactivity and accessibility to political podcasting, giving listeners a unique, entertaining look into the multifaceted Trump legacy." Trump Trivia will release new episodes weekly, inviting listeners to join the conversation and test their knowledge. As we await further updates, we’ll be watching for a potential resistance break at $2.30.

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NeuroBo Pharmaceuticals, Inc. (NASDAQ: NRBO) - NeuroBo Pharmaceuticals, Inc. shares rose 4% last week, closing at $2.80. The company recently reported its third-quarter financial results for the period ending September 30, 2024, along with a corporate update. "The third quarter marked a significant milestone with positive top-line results from Part 1 of our Phase 1 single ascending dose (SAD) trial for DA-1726," said Hyung Heon Kim, NeuroBo’s President and CEO. DA-1726, a novel dual oxyntomodulin (OXM) analog agonist targeting both the glucagon-like peptide-1 receptor (GLP1R) and the glucagon receptor (GCGR) for obesity treatment, was found to be safe and tolerable, with dose-linear pharmacokinetics (PK). "Based on the strong safety profile from the SAD Part 1, we are now adding cohorts to further explore the maximum tolerated dose to fully leverage DA-1726’s potential," Kim added. "Given its balanced activation of GLP1R and glucagon receptors, which boosts energy expenditure, we believe DA-1726 has the potential to be a best-in-class obesity treatment with a more favorable tolerability profile compared to existing and late-stage GLP-1 agonists." The robust safety results also allowed the team to initiate the multiple ascending dose (MAD) study ahead of schedule, with top-line results expected in the first quarter of 2025. Additionally, top-line results from the two-part Phase 2a trial for DA-1241 in MASH are anticipated in December 2024. As we await further developments, we’ll monitor a potential resistance break between $2.90 and $2.95 with increased trading volume.

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Sky Quarry Inc. (NASDAQ: SKYQ) - Sky Quarry Inc. shares closed last week up 14%, finishing at $1.83. Last month, the company announced that its common stock began trading on the NASDAQ Capital Market on October 10, 2024. On October 9, 2024, Sky Quarry also revealed the successful completion of a public offering, raising $6,708,030 through the sale of 1,118,005 shares of common stock, priced at $6.00 per share. Additionally, the company announced an exploratory partnership with Atlas Roofing Corporation ("Atlas") to assess and develop joint processes for asphalt shingle recycling. Atlas, a leading manufacturer of residential and commercial building materials, operates 33 facilities across North America and collaborates with top industry players. This partnership will allow Sky Quarry to introduce its innovative technologies to new markets. Under the collaboration, Sky Quarry will work with Atlas to apply its closed-loop recycling process and proprietary shingle extraction technology to recover both materials and oil from Atlas' waste shingles. In lab tests, Sky Quarry's ECOSolv technology has achieved up to a 95% material recovery rate, recycled up to 99% of its solvent, and recovered up to 99% of hydrocarbons. Following a surge in trading volume and positive technical indicators, we are watching for a potential resistance break at $1.90 as we await further updates from the company.

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Lipella Pharmaceuticals Inc. (NASDAQ: LIPO) - Lipella Pharmaceuticals Inc. shares ended the week at $3.29 following a reverse stock split. In September, the company featured an exclusive Q&A with Dr. Michael Chancellor, Co-founder and Chief Medical Officer, on PRISM MarketView. During the interview, Dr. Chancellor discussed Lipella’s recent advances in urological treatments in recognition of Urology Awareness Month, with a particular focus on the development of therapies for hemorrhagic cystitis (HC). Lipella’s lead candidate, LP-10, is an intravesical liposomal formulation of tacrolimus aimed at treating moderate to severe HC. Dr. Chancellor shared promising results from a Phase 2a study, where 58% of patients experienced significant improvement, including reduced bleeding and bladder inflammation. "The localized delivery of LP-10 has shown significant promise, providing symptomatic relief while minimizing systemic absorption," he explained. The company plans to launch a larger Phase 2b trial for LP-10 in the first half of 2025, with Dr. Chancellor noting, "We believe LP-10 has the potential to meet the critical need for an effective, FDA-approved treatment for hemorrhagic cystitis." Alongside its HC work, Lipella is expanding its pipeline. The company is currently studying LP-310, a novel liposomal-tacrolimus oral rinse for Oral Lichen Planus (OLP), in a Phase 2a trial, with top-line results expected by the end of 2024. "We are dedicated to addressing conditions with unmet medical needs, and our expanding pipeline reflects this commitment," Dr. Chancellor stated. As we await further updates, we are watching for a potential resistance break at $3.40.

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