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FOCUS LIST🔎
TNON – Up over 400% in the pre-market after announcing pricing of $4.5 Million public offering priced At-The-Market under Nasdaq rules
OMIC – Up over 60% in pre after receiving non-binding acquisition proposal from Deerfield
IMRX – Up over 35% in pre after announcing positive initial Phase 2a data including complete and partial responses with IMM-1-104 in combination with chemotherapy in first-line Pancreatic Cancer patients
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HOTLIST🔥
TNON – Up over 400% in the pre-market after announcing pricing of $4.5 Million public offering priced At-The-Market under Nasdaq rules
Tenon Medical Inc. (TNON) is a medical device company that engages in the development of surgical implant systems to treat severe lower back pain in the United States and Puerto Rico.
Late yesterday, the company announced the pricing of its “reasonable best efforts” public offering with a single health-care focused institutional investor for the purchase and sale of up to 1,222,850 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 1,222,850 shares of common stock at a combined offering price of $3.68 per share and accompanying warrant, priced at-the-market under Nasdaq rules (the “Offering”).
The Company expects to receive aggregate gross proceeds of approximately $4.5 million, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants.
The warrants will have an exercise price of $3.55 per share, will be exercisable immediately and will expire five years from the issuance date.
The closing of the Offering is expected to occur on or about September 16, 2024, subject to the satisfaction of customary closing conditions.
TNON had a float of only 460,000 shares according to Finviz based on yesterday’s close.
The stock traded up over 400% in the pre-market this morning.
The $13.50 area has acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $17.50, $20, $25 and then $29.88.
Below $13.50, targets to the downside are $11.50, $9.62, $7.50, $5 and then a gap fill at $4.40.
OMIC – Up over 60% in pre after receiving non-binding acquisition proposal from Deerfield
Singular Genomics Systems, Inc. (OMIC) is a life science technology company that develops next generation sequencing and spatial multiomics technology for researchers and clinicians to advance science and medicine.
In the pre-market this morning, the company announced that it has received a non-binding proposal from Deerfield Management Company, L.P. and certain affiliated funds (collectively, “Deerfield”), to acquire all of the Company’s outstanding shares of common stock that are not already owned by Deerfield for $10.00 per share in cash. Deerfield, an existing stockholder of the Company, indicated in its letter that it intends to invite other major stockholders and existing management to rollover their shares of common stock into the new company.
The stock traded up over 60% in the pre-market in reaction to the news.
The first target for bulls is $9 and then the pre-market high at $9.53.
Beyond that, $10, $11 and $12.37 come into play.
Below $9, targets to the downside are $8.50, $7.75, $7, $6 and then a gap fill at $5.65.
IMRX – Up over 35% in pre after announcing positive initial Phase 2a data including complete and partial responses with IMM-1-104 in combination with chemotherapy in first-line Pancreatic Cancer patients
Immuneering Corporation (IMRX) is a clinical-stage oncology company that engages in the development of medicines for broad populations of cancer patients.
In the after-hours yesterday, the company announced positive initial response data from the first five patients treated with IMM-1-104 in combination with modified gemcitabine/nab-paclitaxel in first line pancreatic cancer as part of its ongoing Phase 2a clinical trial.
Highlights include:
– In Phase 2a arm investigating IMM-1-104 in combination with modified gemcitabine/nab-paclitaxel, complete or partial responses have been observed in the first two patients (2/5) to date, for an initial response rate of 40% and an initial disease control rate of 80%, with all five patients continuing on treatment –
– Clear path forward expected for clinical development of IMM-1-104 in combination with gemcitabine/nab-paclitaxel for pancreatic cancer, assuming initial data is representative; FDA previously granted IMM-1-104 Fast Track designation for the treatment of first- and second-line pancreatic ductal adenocarcinoma –
– Enrollment progressing in all Phase 2a arms with further data expected by year end –
The stock traded up over 35% in the pre-market in reaction to the positive results.
The $1.95 area acted as support in the after-hours and then resistance in the pre-market and will be an important level to watch.
Above it, targets to the upside are $2.12, $2.20, $2.30 and then the pre-market high at $2.63. Beyond that, $3 and $3.20 come into play.
Below $1.95, targets to the downside are $1.80, $1.60, $1.50 and then a gap fill at $1.43.
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