Spotlighting Small-Caps : Breaking Barriers and Upcoming Catalysts (TRIB, HUGE, VRPX, HCTI, THAR)

Uncovering hidden gems in small-cap companies can lead to substantial profits in the stock investing world. These lesser-known firms thrive on a blend of critical factors driving their success. Today, we spotlight five small-cap stocks, exploring the elements that unlock their potential and ignite investor interest.

Trinity Biotech PLC (NASDAQ: TRIB) - Trinity Biotech PLC shares closed last week's trading session slightly down by just under 1%, settling at $1.65. Last month, the company announced its Q1 2024 financial results and reaffirmed its guidance. In terms of biosensor developments, the company is making progress on its next-generation Continuous Glucose Monitoring (CGM) system, adhering to their previously communicated plan. They have partnered with a leading physical and digital product design consultancy based in London and California to spearhead the design of this new solution. The company is currently optimizing the technical aspects of its glucose sensor wire and has applied for ethical approval to start a pre-pivotal clinical trial in June 2024. This trial will provide valuable insights into the sensor optimization process, and they anticipate receiving ethical approval to commence the trial in the coming weeks. As we await further updates from the company, we will be monitoring for a potential resistance break around the $1.80 mark. We would like to also highlight that the company has had an F-3 in effect since the beginning of May.

--

FSD Pharma Inc. (NASDAQ: HUGE) - FSD Pharma Inc. shares ended last week's trading session down 3%, closing at $0.30. The company recently announced the submission of a clinical trial protocol to evaluate the safety and efficacy of Unbuzzd™ in healthy volunteers (METAL-2 trial). This protocol has been submitted to the institutional review board (IRB) in the USA for review and approval. Recruitment for the trial will commence once IRB approval is granted. The METAL-2 trial will use a crossover design to study Unbuzzd™'s ability to mitigate the effects of acute alcohol intoxication. Dr. Andrzej Chruscinski, Vice-President of Clinical and Scientific Affairs at FSD Pharma, expressed excitement about this significant milestone, bringing them closer to assessing Unbuzzd™ in a clinical setting. Additionally, the company announced that on May 29, 2024, the United States District Court for the Eastern District of Pennsylvania confirmed FSD Pharma’s petition to affirm arbitration awards issued by a Canadian arbitrator in 2022 against Dr. Raza Bokhari. FSD's board terminated Bokhari, its former CEO, in July 2021, prompting Bokhari to challenge the termination through arbitration in Ontario, Canada. After extensive litigation and an eight-day evidentiary hearing, the arbitrator ruled against Bokhari, awarding damages and legal fees to FSD. As we await further updates from the company, we will be monitoring the recent low of $0.27 for support and a potential resistance break at $0.34.

--

Virpax Pharmaceuticals, Inc. (NASDAQ: VRPX) - Virpax Pharmaceuticals, Inc. shares ended last week's trading session down nearly 4%, closing at $0.70. This month, the company announced that it will be presenting at the upcoming Bio International Convention in San Diego on Monday, June 3rd, at 4:00 p.m. PT. Gerald W. Bruce, CEO of Virpax, will deliver the corporate presentation, with meetings hosted by Mr. Bruce and team members from June 3rd through the 5th. Additionally, the company filed its quarterly report, stating plans to market Probudur to general surgeons, anesthesiologists, and orthopedic surgeons within the $35 billion postoperative pain management market. Based on preclinical studies comparing Probudur to an approved liposomal bupivacaine formulation, they believe Probudur has the potential to significantly reduce or eliminate the need for opioids in postoperative pain relief. Following a pre-IND meeting, the FDA indicated it is reasonable for the company to pursue a 505(b)(2) NDA for Probudur. However, there is no assurance of securing regulatory approval or mitigating clinical development risks. The Probudur formulation development was completed in the third quarter of 2023, and relevant provisional patents are expected to be filed in the first half of 2024. This month, Virpax also completed a public offering of 1,666,667 shares of common stock (or common stock equivalents), Series A-1 common warrants to purchase up to 1,666,667 shares of common stock, and Series A-2 common warrants to purchase up to 1,666,667 shares of common stock. The combined public offering price was $1.35 per share and associated warrants, resulting in aggregate gross proceeds of approximately $2.25 million. As we await additional company updates, we will be monitoring for a potential resistance break at the $0.74 level.

--

Healthcare Triangle, Inc. (NASDAQ: HCTI) - Healthcare Triangle, Inc. shares ended last week's trading session down 2%, closing at $0.70. In April, the company announced a pioneering partnership with a leading health system to implement a groundbreaking cloud-based AI and machine learning solution. This collaboration sets a revolutionary benchmark in patient data management and utilization, significantly enhancing care delivery standards. A key aspect of this partnership is Healthcare Triangle's development of an AI model that learns from real-time healthcare data, marking a significant advancement in AI application within the healthcare sector. Also in April, the company announced its partnership with Cynomi, a pioneering vCISO platform vendor. This collaboration introduces an innovative Virtual Chief Information Security Officer (vCISO) service tailored specifically for the healthcare provider market, establishing a new standard in cybersecurity and compliance. Anand Kumar, Interim CEO of Healthcare Triangle, emphasized the importance of this offering, stating, "The United States is the number one targeted country in the world, with the healthcare industry being the most targeted vertical. Our collaboration with Cynomi aims to provide continuous security and compliance, safeguarding healthcare customers against the ever-evolving landscape of cyber threats." Many healthcare organizations lack the budget for a full-time Chief Information Security Officer (CISO). The Cynomi solution provides these organizations with detailed insights into their security posture, helping to mitigate the risk of frequent cyber attacks in the healthcare provider space. As we await further updates from the company, we will be monitoring for a potential resistance break at the $0.76 level.

--

Tharimmune Inc. (NASDAQ: THAR) - Tharimmune Inc. shares ended last week's trading session up 5%, closing at $4.74. The company announced that management will be presenting at the 2024 BIO International Convention, taking place June 3-6 in San Diego. During the convention, Tharimmune will hold one-on-one meetings with investors and industry leaders. Last month, the company filed its quarterly report, detailing the completion of a Phase 1 clinical trial. This pharmacokinetic bridging study in the U.S. was a single-dose, single-center, open-label, randomized 2-way crossover study. It compared a 16 mg dose of TH104 to an intravenous 1 mg dose of nalmefene under fasting conditions, with a 7-day washout period between doses. The study protocol planned for 16 subjects to complete both doses, and 20 healthy volunteers participated, with 19 completing the study. The primary objective was to evaluate the absolute bioavailability of TH104 and to assess its safety and tolerability. Full data is expected to be reported in the second quarter of 2024. As we await further updates from the company, we will be monitoring for a potential resistance break in the $5.10-$5.15 area.

Disclaimer: All content provided by BigTimePennys Report is for informational purposes only. The information provided should not be considered as a substitute for professional advice, analysis, or guidance. Any investment decisions made based on the information provided are solely at the user's own risk. BigTimePennys Report are not liable for any losses or damages incurred as a result of using this information. BigTimePenny is not operated by a licensed broker, a dealer, or a registered investment adviser. The Securities Litigation Reform Act of 1995 provides safe harbor protection for forward-looking statements made by companies or individuals. It should be noted that any forward-looking statements made by BigTimePennys Report, its authors, are not guarantees of future performance or results. These statements are subject to risks, uncertainties, and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. The content provided by BigTimePennys Report does not constitute an endorsement, recommendation, or solicitation to buy, sell, or hold any securities or investment products. BigTimePennys Report, its authors, do not endorse or recommend any specific investment strategies, securities, or companies. It is crucial to conduct thorough research and seek advice from a qualified professional before making any investment decisions. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. The user assumes full responsibility for the use of the information provided by BigTimePennys Report. BigTimePennys Report, its authors, disclaim any liability for any direct, indirect, or consequential damages arising from the use or reliance on the information provided. Users should exercise their own judgment and discretion when interpreting and utilizing the information provided. Please note that the content provided by BigTimePennys Report is based on available information and sources believed to be reliable. However, market conditions and regulations may change over time, and there may be inaccuracies or errors in the information provided. It is recommended to verify the information with current and reliable sources before making any investment decisions. Investing in micro-cap companies is highly speculative and carries an extremely high degree of risk. BigTime Penny is not a fiduciary by virtue of any person's use of or access to this content. We were NOT compensated for this article.