Sparking Success: Key Catalysts and Critical Levels Ahead (PWM, TNFA, SIDU, ZVSA, PHGE)

Navigating the ups and downs of penny stocks takes an understanding of upcoming events and key price levels that can impact their movement. In this article, we break down five high-risk, high-reward penny stocks, focusing on the upcoming catalysts and important levels investors should keep an eye on.

Prestige Wealth Inc. (NASDAQ: PWM) - Prestige Wealth Inc. shares closed last week down 7%, finishing at $0.95. Earlier this month, the company announced two significant acquisition agreements. First, Prestige Wealth reached a definitive agreement to acquire all shares of InnoSphere Tech Inc., a British Virgin Islands-based company. The deal is valued at $2.1 million, subject to customary adjustments, and will be paid in 3.5 million newly issued Class B ordinary shares at $0.60 per share. Additionally, the sellers and key employees will receive warrants to purchase 2.625 million Class A ordinary shares at an exercise price of $0.72 per share. These warrants will become exercisable six months after issuance and expire five years later. Key employees will remain with InnoSphere Tech post-acquisition, and the agreement includes three-year non-competition and non-solicitation clauses for the sellers. The transaction, expected to close in Q4 2024, will bolster PWM's capabilities in artificial intelligence, enabling AI-driven technology services in wealth management. Second, PWM signed an agreement to acquire Tokyo Bay Management Inc., also incorporated in the British Virgin Islands, for $1.5 million, subject to adjustments. This acquisition will involve 2.5 million newly issued Class B ordinary shares at $0.60 per share and warrants for 1.875 million Class A ordinary shares at an exercise price of $0.72 per share. Like the InnoSphere Tech deal, the warrants will become exercisable after six months and expire five years thereafter. Key employees of Tokyo Bay will also remain with the company, and the agreement includes similar three-year non-competition and non-solicitation terms. Upon closing, PWM will terminate its existing business development and marketing agreement with Tokyo Bay, dated June 24, 2024. The acquisition, also expected to close in Q4 2024, will strengthen PWM's strategy in the Asian wealth management market. As we await further updates from the company, we will be monitoring for a potential resistance break at $1.05 or for support to hold within the $0.86–$0.90 range.

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TNF Pharmaceuticals, Inc. (NASDAQ: TNFA) - TNF Pharmaceuticals, Inc. shares closed last week at $1.13, down nearly 3%. In October, the company announced a strategic equity investment from Prevail Partners, LLC, a U.S.-based investment fund specializing in life sciences. The investment, priced at $2.12 per share, reflects a 20% premium to the 30-day volume-weighted average price (VWAP) as of October 1, 2024. As part of the partnership, TNF Pharmaceuticals has engaged Prevail InfoWorks, Inc., an affiliate of Prevail Partners and a global full-service Clinical Research Organization (CRO), to provide clinical services for its upcoming Phase 2 study of MYMD-1, the company's proprietary drug for sarcopenia and frailty. In its recent quarterly filing, the company revealed plans to publish several scientific papers in 2024, including an abstract related to the Phase 2 study of MYMD-1 in Q4 2024. The new management team is also actively seeking speaking opportunities to present the company's progress and is exploring non-dilutive funding options to evaluate MYMD-1 for additional indications beyond its current focus. As we await further updates, we are watching for a potential resistance breakout in the $1.18–$1.20 range.

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Sidus Space Inc. (NASDAQ: SIDU) - Sidus Space Inc. shares rose 8% last week, closing at $1.50. This month, the company announced a strategic partnership with Reflex Aerospace, a European satellite manufacturing startup known for its rapid, custom satellite design. The collaboration combines Sidus' expertise in satellite manufacturing and mission operations with Reflex Aerospace's innovative design capabilities. Together, they aim to deliver flexible, cost-effective, and high-performance satellite solutions to address diverse customer needs and expand their global market presence. "Finalizing this partnership at Space Tech Expo Europe underscores the importance of collaboration in advancing global space innovation," said Carol Craig, Founder and CEO of Sidus Space. "By combining our space heritage and mission expertise with Reflex Aerospace's agile satellite manufacturing, we can deliver tailored solutions worldwide." Additionally, the company announced the successful completion of launch processing for LizzieSatTM-2 at the Astrotech Space Operations facility at Vandenberg Space Force Base in California. LizzieSatTM-2 has been handed over to SpaceX for the Bandwagon-2 rideshare mission, scheduled for launch no earlier than December 2024. "LizzieSatTM-2 showcases the next evolution of our modular satellite platform, demonstrating its adaptability to host both Sidus-developed sensors and customer payloads like the HEO Holmes Imager," said Craig. "This milestone reflects our dedication to delivering innovative, flexible, and cost-effective solutions that meet the evolving needs of our customers. We’re excited to expand our on-orbit presence and provide near real-time data services." As we await further updates, we will monitor for a potential resistance breakout at $1.60 or continued support around the $1.35 level.

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ZyVersa Therapeutics, Inc. (NASDAQ: ZVSA) - ZyVersa Therapeutics, Inc. shares ended last week at $1.07, showing a slight gain. This month, the company released its Q3 2024 financial results and provided a business update. "We are pleased with the progress ZyVersa has made toward achieving key near-term development milestones," said Stephen C. Glover, Co-founder, Chairman, CEO, and President. He noted that the Phase 2a clinical trial for Cholesterol Efflux MediatorTM VAR 200 in diabetic kidney disease is set to begin in Q1 2025, with initial data expected around mid-2025. Preparations are also underway for an IND submission for Inflammasome ASC Inhibitor IC 100, followed by a Phase 1 trial in healthy overweight subjects at risk for metabolic complications. To support this, two proof-of-concept studies with IC 100 in obesity DIO models are planned, with at least one starting in Q4 2024. One study will evaluate IC 100 as a monotherapy compared to semaglutide, while the other will assess IC 100 in combination with semaglutide. The company’s newly formed Obesity, Metabolic & Inflammatory Disease Scientific Advisory Board (SAB) has played a pivotal role in designing these studies to optimize evaluation parameters."We’re encouraged by the scientific evidence from our preclinical program and published third-party data supporting IC 100’s potential to address obesity-driven inflammation and its associated comorbidities," Glover stated. Unlike NLRP3 inhibitors, IC 100 targets ASC to inhibit multiple inflammasomes, including NLRP3 and AIM2, while uniquely disrupting ASC specks to reduce chronic systemic inflammation. "Our two lead compounds hold great promise for improving health and transforming lives, and achieving these near-term milestones will be a significant inflection point for ZyVersa, driving shareholder value." The company also highlighted newly published data showing that AIM2 inflammasome activation and pyroptosis contribute to stroke-related cardiovascular injury and dysfunction, which can be mitigated by IC 100. As we await further updates, we are monitoring for a potential resistance breakout at $1.15 or continued support above $1.00.

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BiomX Ltd. (NYSE: PHGE) - BiomX Ltd. shares ended last week up 18%, closing at $0.71. This month, the company reported its financial results for Q3 2024 and provided updates on its programs and business activities. "We are encouraged by the progress in our diabetic foot osteomyelitis (DFO) program, having achieved the key milestone of completing patient enrollment for the BX211 Phase 2 trial," said Jonathan Solomon, BiomX’s Chief Executive Officer. "We remain on track to share topline Phase 2 results (through Week 13) in the first quarter of 2025." BX211 is an innovative phage therapy aimed at treating DFO, with the potential to prevent amputations caused by severe infections that penetrate the bone in patients with diabetic foot ulcers. In October 2024, BiomX received additional non-dilutive funding from the U.S. Defense Health Agency (DHA) to further advance the BX211 program, bringing the total funding for the trial to $36.8 million. The randomized, double-blind, placebo-controlled, multi-center Phase 2 trial is currently evaluating the safety, tolerability, and efficacy of BX211 in patients with DFO. The trial design is informed by compassionate-use cases that demonstrated the potential of phage therapy in treating DFO and osteomyelitis. Initial topline results from the trial are expected in Q1 2025. As we await further updates, we will be monitoring for a potential resistance breakout at $0.76 or continued support around the $0.65 level.

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