Small Cap Catalysts on the Horizon (VTAK, MAIA, FLGC, HSCS, NCNA)

Each week, we dive deep into emerging market catalysts, hunting for the next small-cap stock primed for a breakout. Our focus is on five standout small-cap stocks, identified through key indicators such as resistance level breaks, sudden volume surges, and consolidation patterns.

Catheter Precision Inc. (NYSE: VTAK) - Catheter Precision Inc. shares closed last week down 10% at $0.40. At the end of July, the company announced that it had enrolled 75 patients in its Phase II LockeT Study. As previously reported, the three phases of the LockeT studies began in 2023, aiming to demonstrate the product's safety and benefits. Phase I was completed in 2023 and confirmed that LockeT is effective for its intended use with no safety concerns. The product rollout began in the first half of 2024, while Phase II of the study is ongoing. Phase II involves a one-to-one randomized study comparing LockeT to manual compression, the current standard of care, with plans to enroll up to 100 patients. This phase is designed to provide additional evaluation of LockeT's safety and effectiveness, along with data on potential benefits such as pain reduction and cost savings. Enrollment is expected to be completed by October 2024, with final data analysis to follow for submission to a peer-reviewed publication. As we await further updates from the company, we will be watching for a resistance break at $0.48 or consolidation at a certain price level, given the company's recent downtrend.

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MAIA Biotechnology, Inc. (NYSE: MAIA) - MAIA Biotechnology, Inc. shares closed last week at $3.17, gaining just under 1%. At the end of July, the company announced positive treatment updates from its Phase 2 clinical trial, THIO-101, which is evaluating THIO in combination with the immune checkpoint inhibitor cemiplimab (Libtayo®) for patients with advanced non-small cell lung cancer (NSCLC) who have failed two or more standard-of-care therapy regimens. Last week, the company also announced that Chairman and CEO Vlad Vitoc, M.D., will present at the H.C. Wainwright & Co. 26th Annual Global Investment Conference in New York City from September 9–11, 2024. Dr. Vitoc's presentation will feature the latest clinical data from the Phase 2 THIO-101 trial of their lead candidate THIO combined with cemiplimab (Libtayo®) in advanced NSCLC patients who have not responded to at least two standard therapies. As we await further updates from the company, we will be monitoring for a potential resistance break at the $3.26 and $3.40 levels.

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Flora Growth Corp. (NASDAQ: FLGC) - Flora Growth Corp. shares ended last week's trading session up 4%, closing at $0.99. In June, the company announced a joint venture with Althea Group Holdings (ASX: AGH) ("Althea") to enter the hemp-derived beverage market. "Partnering with Althea immediately enhances our credibility in the beverage sector. Their unique, world-class emulsion technology has set the foundation for this category. Combined with our strengths in brand development, sales, and marketing, this partnership positions us as a market leader, setting a standard that will be difficult for competitors to match. Our focus extends beyond cannabis to offer an alternative to alcohol, with the goal of establishing a nationwide brand," stated Clifford Starke, Chief Executive Officer. The partnership aims to establish distribution of cannabis beverages in the U.S. by navigating regulations and accessing the market through consumer packaged goods (CPG) channels such as wine and liquor stores. The joint venture will leverage the strengths and resources of both Peak and Flora to capitalize on commercial opportunities in the U.S. beverage market, driving mutual growth. According to Headset Data, cannabis beverages currently account for only 1% to 3% of the U.S. cannabis market, presenting significant growth potential. Additionally, the market benefits from growing consumer interest in alcohol alternatives. Data Bridge Market Research projects that the U.S. infused beverages market will reach half a billion dollars by 2030, with a compound annual growth rate (CAGR) of 14.7% during the forecast period. As we await further updates from the company, we will be watching for a potential resistance break at $1.05 with increased trading volume.

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Heart Test Laboratories, Inc. (NASDAQ: HSCS) - Heart Test Laboratories, Inc. shares closed last week's trading session down 8%, ending at $2.94. In a press release from late July, the company announced that it is nearing completion of adjustments to its device-based AI-ECG algorithm to account for updated echocardiographic measurement thresholds for older patients. The core algorithm work, developed in collaboration with Mount Sinai using tens of thousands of patient records, is now complete. The company is currently finalizing the ensemble algorithm work, expected to be completed by Q3 2024. Additionally, in a July press release, the company reported that its MyoVista® wavECGTM has been selected by the Innovation Value Institute as a technology capable of driving significant transformation in healthcare. As a result, HeartSciences has been invited to showcase and discuss MyoVista wavECG at the 4th Digital Health Symposium during the United Nations General Assembly in New York, scheduled for September 24-26, 2024. Andrew Simpson, CEO of HeartSciences, stated, "We are honored that MyoVista wavECG has been recognized as a technology with the potential to radically transform healthcare and look forward to our presentation at the United Nations General Assembly Digital Health Symposium in September. This recognition builds on our recent achievements, including growing support from key opinion leaders and establishing relationships in the UK and Ireland for our technology. It also highlights the significant commercial potential for our AI-ECG products." As we await further updates from the company, we will be monitoring for a potential resistance break in the $3.15 to $3.35 range with increased trading volume.

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NuCana plc (NASDAQ: NCNA) - NuCana plc shares closed last week's trading session at $2.83, up nearly 4%. At the end of last month, the company announced the discontinuation of the NuTide:323 study following a pre-planned initial analysis and a recommendation from the Study Steering Committee. Despite prognostic imbalances favoring the control arm, the committee determined that the combination of NUC-3373 with leucovorin, irinotecan, and bevacizumab (NUFIRI+bev) was unlikely to meet the study's primary objective of achieving superior Progression-Free Survival (PFS) compared to the control arm of 5-FU, leucovorin, irinotecan, and bevacizumab (FOLFIRI+bev) in the final analysis. All three arms of the study demonstrated a favorable safety profile and were generally well-tolerated, with only 12 of the 175 patients (four in each arm) discontinuing treatment due to adverse events. Mr. Griffith stated, "NuCana remains committed to improving survival outcomes for cancer patients. The results of the NuTide:323 study do not affect the ongoing NuTide:303 study, in which NUC-3373 is being combined with either pembrolizumab in solid tumors or docetaxel in patients with lung cancer. Additionally, we are excited about the potential of NUC-7738, a novel agent that significantly impacts gene expression in cancer cells and targets multiple aspects of the tumor microenvironment. Welook forward to sharing the latest data from the Phase 2 part of the NuTide:701 study of NUC-7738 in combination with pembrolizumab in patients with melanoma at the ESMO annual conference in September 2024 (13th-17th)." As we await further updates from the company, we will be monitoring for a potential resistance break in the $3.05 to $3.25 range with increased trading volume.

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