Catalyst Radar: Tracking Momentum & Key Drivers (SABS, PC, IRD, GLXG, ALXO)

Every week, we explore key market catalysts, searching for small-cap stocks on the brink of a breakout. We highlight five promising candidates, selected based on critical indicators like resistance breakouts, sharp volume spikes, and consolidation trends.

SABBiotherapeutics, Inc. (NASDAQ: SABS) - SAB Biotherapeutics, Inc. shares closed last week’s trading session up 3%, settling at $3.07. Last month, the company released its financial results for the second quarter ending September 30, 2024, alongside a corporate update. "We are pleased to announce the completed enrollment of the SAB-142 Phase 1 study with no reported cases of serum sickness," said Samuel J. Reich, SAB's chairman and CEO. "This year, we successfully advanced our SAB-142 Type 1 diabetes program from preclinical development to Phase I and Phase II readiness, showcasing our team's ability to execute on our strategic goals. Interest in SAB-142 continues to grow among clinical advisors and the Type 1 diabetes (T1D) community as the program progresses. We remain on track to initiate a Phase II study in 2025." On September 9, 2024, SAB provided a clinical trial update at the European Association for the Study of Diabetes Annual Meeting. The update confirmed the completion of Phase 1 enrollment for all planned cohorts in healthy volunteers. The company is now enrolling T1D patients in the final cohort to evaluate the safety, tolerability, pharmacokinetics, and immunogenicity of SAB-142 before commencing the Phase II SAFEGUARD study in patients with new-onset T1D. The target dose of SAB-142 (2.5 mg/kg) has been successfully administered without any cases of serum sickness. Key milestones include a Phase 1 topline data readout expected by the end of 2024. As the company moves closer to this milestone, we will be watching for a potential breakout above $3.20, supported by increased trading volume.

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Premium Catering (Holdings) Limited (NASDAQ: PC) - Premium Catering (Holdings) Limited saw its shares rise nearly 7% last week, closing at $0.88. At the end of September, the company announced the successful completion of its initial public offering (IPO), issuing 2,000,000 ordinary shares at $4.75 per share, raising gross proceeds of $9.5 million before underwriting discounts and expenses. The funds from the IPO will support various strategic initiatives, including upgrading the company’s IT systems, automating production services, expanding its fleet of delivery trucks, growing its asset management services, pursuing potential strategic acquisitions, marketing and branding efforts, and general working capital. Additionally, proceeds will repay an interest-free loan from a shareholder used to cover listing-related expenses. Premium Catering specializes in certified Halal food catering with expertise in Indian, Bangladeshi, and Chinese cuisines. With over 11 years of experience, the company primarily serves budget prepared meals to foreign construction workers in Singapore. It also operates food stalls, provides buffet catering for private events, and offers ancillary delivery services. Since 2019, the company has introduced smart incubators—custom-made, compartmentalized, heated, and insulated food vending lockers. These allow customers to collect meals in a secure, hygienic, and contactless manner at a pre-set temperature. As we await further updates, we will be closely watching for a potential breakout above $0.93, given last week’s unusual trading volume.

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Opus Genetics, Inc. (NASDAQ: IRD) - Opus Genetics, Inc. shares closed last week down nearly 3%, ending at $1.11. Last month, the company reported its third-quarter financial results for the period ending September 30, 2024, and provided a corporate update. "In October 2024, we acquired Opus Genetics to establish a leading gene therapy franchise targeting inherited retinal diseases," said George Magrath, M.D., CEO of Opus Genetics. "This acquisition significantly expanded our pipeline with promising gene therapy candidates. The most advanced, OPGx-LCA5, has shown positive six-month proof-of-concept results in patients with advanced disease. Another candidate, OPGx-BEST1, addresses one of the largest inherited retinal disease (IRD) populations, and we’re excited to begin dosing patients next year. Additionally, we continue to advance Phentolamine Ophthalmic Solution 0.75% for new indications, which, if approved, could deliver meaningful cash flow in the future. With these efforts, our cash runway now extends into 2026, covering expected readouts from four clinical programs in 2025." The company’s lead gene therapy, OPGx-LCA5, is under development to treat Leber congenital amaurosis 5 (LCA5), a severe early-onset hereditary retinal disease. An ongoing open-label, dose-escalation Phase 1/2 trial has shown promising six-month data, demonstrating visual improvement in all three adult patients with late-stage disease. Enrollment for pediatric patients is set to begin in Q1 2025. Meanwhile, the Phase 3 LYNX-2 registration trial for Phentolamine Ophthalmic Solution 0.75% is underway, evaluating its efficacy for dim light disturbances in low-light conditions following keratorefractive surgery. Conducted under a Special Protocol Assessment (SPA) with the FDA, the trial is expected to deliver top-line data in Q1 2025. Last week, Opus Genetics announced a virtual Key Opinion Leader (KOL) event scheduled for Wednesday, December 11, 2024, at 4:00 PM ET. The event will feature experts including Jean Bennett, M.D., Ph.D., Tomas Aleman, M.D., Christine Kay, M.D., and Arshad Khanani, M.D., who will present detailed six-month efficacy and safety data on OPGx-LCA5. Discussions will also address the unmet needs in LCA5-associated IRD, future development steps, and the broader potential of Opus Genetics' gene therapy approach. Wewill be watching for a potential resistance break in the $1.18–$1.21 range as we await further updates from the company.

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Galaxy Payroll Group Limited (NASDAQ: GLXG) - Galaxy Payroll Group Limited shares closed last week at $1.18, marking a 35% increase. In September, the company completed its initial public offering (IPO), issuing 1,750,000 ordinary shares at $4.00 per share, raising gross proceeds of $7 million before deducting underwriting discounts and expenses. The IPO closed on September 13, 2024, and the shares began trading on the Nasdaq Capital Market on September 12, 2024. The company plans to allocate the IPO proceeds as follows: 20% for brand promotion and marketing, 20% for talent recruitment, 20% for expanding office locations and services, 20% for IT system upgrades, and 20% for general working capital. Headquartered in Hong Kong, Galaxy Payroll has decades of expertise in payroll outsourcing, employment services, and the human capital market across Asia. Through its operating entities and in-country partners, the company provides payroll outsourcing, employment services, and consultancy and market research to clients in mainland China, Hong Kong, Taiwan, Macau, Japan, Australia, and other Asian countries. Its customer base includes: Global HR service providers: Engaged by companies/organizations to manage payroll and employment-related tasks for branch offices worldwide. End-users: Multinational companies/organizations outsourcing payroll and employment functions directly to Galaxy Payroll. Consulting clients: Seeking advisory services for global expansion. As we monitor developments, attention is focused on a potential resistance break at $1.30, fueled by last week’s unusual trading volume.

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ALX Oncology Holdings Inc. (NASDAQ: ALXO) - ALX Oncology Holdings Inc. shares fell 10% last week, closing at $1.62. Last month, the company released its third-quarter financial results for the period ending September 30, 2024, and provided a corporate update. "We achieved significant clinical progress this quarter, highlighted by topline data from the ASPEN-06 Phase 2 trial, where our lead candidate, evorpacept, became the first and only CD47-blocking agent to demonstrate durable clinical benefit with a favorable safety profile in a prospective randomized clinical trial," said Jason Lettmann, CEO of ALX Oncology. "These results validate evorpacept's novel mechanism of action and reinforce the potential of our robust clinical program. We look forward to achieving additional milestones that could position evorpacept as a best-in-class, combinable treatment across various cancer types." Upcoming milestones include the presentation of Phase 1b/2 trial results evaluating evorpacept with Jazz Pharmaceuticals' zanidatamab in HER2-positive and HER2-low metastatic breast cancer at the San Antonio Breast Cancer Symposium on December 12, 2024. In the first half of 2025, ALX expects updated results from the ASPEN-06 Phase 2 trial in gastric/GEJ cancer, topline data from two Phase 2 trials in head and neck squamous cell carcinoma (ASPEN-03 and ASPEN-04), and updated results from the ASPEN-07 Phase 1 trial in urothelial cancer with PADCEV® (enfortumab vedotin). Wewill be watching for a potential resistance break at $1.75 as we await further updates from the company.

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