Small Cap Outlook: Exploring Prospects Ahead (PHIO, SMX, BCDA, AXDX, GOVX)

Examining a curated set of five unique small-cap companies for the upcoming week necessitates a concentration on the potential catalysts on the horizon, recognizing breakout potentials and areas of resistance. Anticipating upward trends and identifying pivotal entry points are essential strategies. Employing patience is vital in mitigating risks associated with exploring potential market downturns, while awaiting validation through significant breakout levels.

Phio Pharmaceuticals Corp. (NASDAQ: PHIO) - Phio Pharmaceuticals Corp. shares closed last week down nearly 3% at $.8250. In November, the company announced the start of Phase 1b clinical trials for PH-762, a compound targeting PD-1 to treat skin cancers. CEO Robert Bitterman expressed optimism about this therapy. In late January, the company revealed promising preclinical data on INTASYL's potential in improving NK cell activity for hematological malignancies, to be presented at ITOC10 on March 21-23, 2024. We'll monitor the resistance at the $.89 mark since the company's shares showed upward movement last week, surpassing the previous resistance level of $.80. Additionally, it's important to note that the company has filed a prospectus for the resale of up to 4,420,273 shares of common stock by selling stockholders, effective as of 12/28/23.

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SMX (Security Matters) PLC (NASDAQ: SMX) - SMX (Security Matters) Public Limited Company saw a 4% decrease in their shares last week, closing at $.3340. This month, the company announced a public offering of 12,124,666 ordinary shares at $0.24 each, raising approximately $2.9 million in gross proceeds. In November, they revealed plans for a groundbreaking plastic cycle token, set for release in Q2 2024. With only 9% of plastic recycled globally and a market worth over $40 billion, this initiative aims to establish an ethical digital credit platform to capitalize on recyclable plastics credits. Consortium members, chosen for their expertise, will collaborate to develop the Plastic Cycle Token. As we await further announcements, we'll monitor the resistance at the $.36 level and the support around $.28.

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BioCardia, Inc. (NASDAQ: BCDA) - BioCardia, Inc. shares rose 6% last week, closing at $.4490. The company announced that two scientific abstracts on its CardiAMP and CardiALLO programs have been accepted for presentation at the Technology and Heart Failure Therapeutics Conference (THT) on March 4-6, 2024, in Boston, MA. Both abstracts will be presented in the Late-Breaking Clinical Science session on March 4. Dr. Peter Altman, BioCardia's CEO and President, expressed satisfaction with the analyses and positive results of the clinical studies. The company looks forward to the conference discussions. We'll be watching for updates from the company and monitoring resistance at $.47 and support around $.38-.40. It’s also important to note on 2/14/23 the company filed a prospectus related to a proposed resale of 3.02M shares of its common stock by selling stockholders.

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Accelerate Diagnostics, Inc. (NASDAQ: AXDX) - Accelerate Diagnostics, Inc. shares closed last week at $.97, up 2%. In January, the company announced a public offering of 6,860,659 units, priced at $1.50 per unit, along with pre-funded units at $1.49 each. They also released preliminary, unaudited results for the quarter and year ended December 31, 2023. CEO Jack Phillips highlighted progress on the Accelerate WaveTM system and expansion of the Pheno® customer base. The company also finalized a collaboration agreement with Bruker Corporation for the Accelerate ArcTM system and anticipates FDA submission in Q1 2024. Full-year 2023 financial results are expected before the March 2024 earnings conference call. As we await further updates, we'll monitor for resistance breaking at the $1.05 level.

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GeoVax Labs, Inc. (NASDAQ: GOVX) - GeoVax Labs, Inc. shares closed last week's trading session down nearly 1% at $2.17. The company announced that its Chairman and CEO, David Dodd, will present at the 2024 BIO CEO & Investor Conference in New York, NY on February 26-27, 2024. Additionally, they will report 2023 financial results on Thursday, February 29, 2024, after the close of U.S. markets. Following the release, management will host a live conference call and webcast at 4:30 p.m. ET to provide a corporate update and discuss financial results. As we await further updates, we'll monitor for a resistance break at the $2.26 level.

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