Fueling Growth: Unleashing Small-Cap Opportunities (TRNR, INM, VRAX, AMIX, CLRB)

Uncovering hidden opportunities in small-cap stocks can offer substantial returns for investors. These overlooked companies harness key growth drivers to accelerate their expansion. In this article, we highlight five small-cap stocks and examine the catalysts propelling their momentum and increasing investor interest.

Interactive Strength Inc. (NASDAQ: TRNR) - Interactive Strength Inc. concluded last week’s trading session with shares down less than 1%, closing at $2.67. In early December, the company announced it had signed a non-binding letter of intent and exclusivity agreement to acquire a connected-fitness equipment company. The proposed transaction, expected to close as early as the first quarter of 2025, is anticipated to positively impact TRNR's financial results. The target company, which generates over $40 million in revenue and has positive EBITDA, will be acquired in a 100% equity consideration transaction. This acquisition would mark TRNR's second within 12 months. At the end of December, the company reaffirmed its commitment to the acquisition process, highlighting the next step as finalizing a definitive agreement. TRNR also emphasized its ongoing focus on marketing, distributing, installing, and selling both CLMBR and FORME products globally, consistent with its performance in Q3 and Q4 guidance. Additionally, the company aims to strengthen its balance sheet to support scaled M&A activities and is actively exploring further acquisition opportunities. TRNR noted its intention to enhance direct communication with shareholders. As the company progresses, attention will be on increased trading volume and the potential for a breakout above the $2.80 resistance level.

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InMed Pharmaceuticals, Inc. (NASDAQ: INM) - InMed Pharmaceuticals, Inc. closed last week’s trading session at $4.95, reflecting a 10% increase. In November, the company released its financial results for the first quarter of fiscal year 2025, which ended on September 30, 2024. Eric A. Adams, the company’s Chief Executive Officer, highlighted significant progress across both pharmaceutical programs and commercial operations, noting a strong start to fiscal 2025. The Alzheimer’s treatment candidate, INM-901, demonstrated substantial advancements during the first quarter, including promising data from a long-term preclinical study. This study revealed statistically significant improvements in specific behavioral criteria, underscoring the drug’s potential. The evolving Alzheimer’s research landscape, with its growing focus on neuroinflammation and related mechanisms, aligns closely with InMed’s research priorities. The company anticipates sharing additional preclinical data in the fourth quarter of calendar 2024. INM-901, a proprietary small molecule drug candidate with multiple mechanisms of action, is under development as a potential Alzheimer’s treatment. Recent milestones include positive behavioral data from preclinical studies and new findings showing the drug can be effectively administered orally, achieving therapeutic levels in the brain comparable to those achieved via intraperitoneal injection, commonly used in neurodegenerative research. Current studies are also investigating receptor interactions, mechanisms of action, and drug metabolism and pharmacokinetics. Next steps involve further molecular analysis of data from the completed preclinical dosing study to better define the drug’s mechanisms of action, with results expected in the fourth quarter of 2024. Research and development expenses for the quarter ended September 30, 2024, were $0.8 million, down from $1.3 million in the same period the previous year. The decrease is attributed to reduced spending on external contractors, patent fees, and compensation. However, research and development expenses are expected to rise in 2025 as the company advances preclinical studies for INM-901 and begins IND-enabling studies for its ocular disease program. As we await additional updates from the company on the data readout, we will monitor for a potential resistance break at $5.20.

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Virax Biolabs Group Limited (NASDAQ: VRAX) - Virax Biolabs Group Limited closed last week’s trading session up over 1%, finishing at $2.18. In December, CEO James Foster issued a letter to shareholders outlining the company’s 2025 plans and recent achievements. Virax’s primary goal is to bring comprehensive T-cell diagnostics and immune profiling solutions to market through its innovative ViraxImmune™ in vitro diagnostic (IVD) platform. The company’s strategy focuses on developing and commercializing immune profiling IVDs for post-acute infection syndromes and protective immunity. This year, Virax launched ImmuneSelect, a research-use-only version of ViraxImmune™. This platform includes immune profiling assays designed for researchers, clinicians, and drug developers working in chronic inflammation and immune dysfunction. The company’s ViraxClear portfolio also offers a range of PCR and antigen-based test kits targeting various pathogens to support public health and disease control initiatives. Virax recently initiated a clinical study in the United Kingdom (NCT06731179) to evaluate the ViraxImmune™ platform's ability to detect T-cell dysfunction in patients with post-acute infectious syndromes, including long COVID, post-treatment Lyme disease (PTLD), and Myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS). The study aims to enroll up to 160 participants, with dosing for the first patient expected in early Q1 2025. Following the commercial launch of ImmuneSelect, Virax is expanding its global distribution network. Agreements have been reached with Europa Biosite and Tebubio to distribute ImmuneSelect products across the EU, UK, Norway, and Switzerland. Additional agreements have been signed with Abyntek Biopharma for distribution in Spain and Portugal and DBA Italia for Italy. U.S. distribution partners are expected to be secured by Q1 2025. The company has also expanded its ViraxClear distribution, including an agreement to supply Mpox Virus Real-Time PCR Detection Kits to 13 European countries and the Middle East, with further distribution extended to GCC countries and India through Cosmos Health. Cosmos Health has also secured an exclusive agreement to distribute ViraxClear Avian Influenza Virus PCR Kits in Greece and Cyprus, with additional rights in select European and GCC countries. These specialized RT-PCR kits can reliably detect RNA from AIV, including H5, H7, and H9 subtypes such as the H5N1 strain, providing critical support for public health responses by identifying infections in high-risk populations. Under this agreement, Cosmos Health will handle importing, selling, and distributing the kits in the specified territories, while Virax will manage regulatory compliance and product registration. As we await further updates from the company, attention will focus on increased trading volume and a potential resistance break at $2.30.

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Autonomix Medical Inc. (NASDAQ: AMIX) - Autonomix Medical Inc. concluded last week’s trading session with shares up 9%, closing at $3.14. This month, the company announced that its abstract has been accepted for a poster presentation at the SIO 2025 Annual Scientific Meeting, scheduled for January 30 to February 3, 2025, in Las Vegas, NV. The presentation, titled "Ablation of the Celiac Ganglia for Treatment of Pancreatic Cancer Pain: An Interim Analysis of the First Five 'Lead-In' Patients," highlights significant progress in its clinical research. The company also announced its participation in the Virtual Investor Closing Bell Series on Wednesday, January 22, 2025, at 4:00 PM ET. During the event, CEO Brad Hauser will provide a corporate overview and business outlook. Investors and participants will have the opportunity to submit questions live, with the company addressing as many as time permits. Additionally, Autonomix revealed it has achieved "design lock" for its Application Specific Integrated Circuits (ASIC) microchip following successful in vivo preclinical and extensive bench testing. This milestone marks continued progress toward the company's upcoming U.S. pivotal trial. As further updates are awaited, attention will remain on increased trading volume and the potential for a resistance break at $3.30.

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Cellectar Biosciences, Inc. (NASDAQ: CLRB) - Cellectar Biosciences, Inc. shares ended last week’s trading session up nearly 1%, closing at $0.24. This month, the company reaffirmed its commitment to advancing iopofosine for Waldenström’s macroglobulinemia (WM), an incurable disease with limited treatment options. CEO James Caruso expressed confidence in the ongoing discussions with the FDA, which suggest a potential path for conditional U.S. market approval through the accelerated approval process. This aligns with feedback from the European Medicines Agency for conditional EU market authorization, and the company is working to harmonize global approval strategies. Cellectar plans a randomized confirmatory study for iopofosine, involving 40-60 patients per arm, with full enrollment expected within 18 months of the first patient admission. Alignment with the FDA is anticipated in the first half of 2025, supported by a cash runway extending into the fourth quarter of the same year. The company continues to explore various strategies to bring iopofosine to patients and sees it as a strong partnership opportunity due to its clinical results, convenient dosing, global distribution capabilities, and orphan pricing potential. In addition to iopofosine, Cellectar is advancing its Phospholipid Drug Conjugate™ (PDC) programs. Its lead alpha-emitting radio conjugate, CLR 121225, has shown promising activity and tolerability in preclinical models of solid tumors such as pancreatic, colorectal, and breast cancer, with plans to file an IND application in Q1 2025. Similarly, CLR 121125, an Auger-emitting PRC for triple-negative breast cancer, has demonstrated precise targeting and effectiveness in preclinical studies. With IND clearance, a Phase 1b/2a dose-finding study for CLR 121125 is also planned. We will be monitoring for further updates from the company, along with increased trading volume and a potential resistance break at $0.26–$0.27.

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