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FOCUS LIST🔎
CNSP – Up over 50% in pre after announcing expansion of pipeline with in-license of late stage, novel potential blood brain barrier Permeable Abeotaxane for treatment of brain malignancies
IMNN – Up over 180% in pre after announcing 11.1 month increase in overall survival in patients with newly diagnosed, advanced ovarian cancer treated with IMNN-001
TLRY – Up over 10% in pre after reporting better than expected revenue
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HOTLIST🔥
CNSP – Up over 50% in pre after announcing expansion of pipeline with in-license of late stage, novel potential blood brain barrier Permeable Abeotaxane for treatment of brain malignancies
CNS Pharmaceuticals Inc. (CNSP) is a clinical pharmaceutical company that engages in the development of anti-cancer drug candidates for the treatment of brain and central nervous system tumors.
In the pre-market this morning the company announced an expansion of its pipeline with in-license of late stage, novel potential blood brain barrier Permeable Abeotaxane for treatment of brain malignancies.
Under the terms of the Agreement, CNS Pharmaceuticals has obtained an exclusive license and the intellectual property rights to TPI 287, a potentially blood brain barrier permeable microtubule inhibitor, currently in development for the treatment of GBM, in exchange for an upfront payment of 616,698 shares of the Company’s common stock, as well as the possibility of future success-dependent milestone payments of cash or the Company’s common stock to Cortice.
Strategic in-license from Cortice Bioscience is highly synergistic with the ongoing potentially pivotal Berubicin program and demonstrates further commitment to changing the treatment paradigm in GBM
Drug candidate, TPI 287, awarded Orphan designation and studied in over 350 patients to date, including clinical trials as monotherapy and in combination with bevacizumab demonstrating encouraging clinical efficacy and safety profile at target therapeutic doses
Company plans to engage the U.S. FDA to seek guidance on advancing TPI 287 into a potential registration study for recurrent GBM.
CNSP traded up over 50% in the pre-market in reaction to the news.
The $1.30 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $1.40, $1.50, $1.60, $1.70 and then the pre-market high at $1.75. Beyond that, $2 and $2.50 come into play.
Below $1.30, targets to the downside are $1.20, $1.15, $1.10 and then a gap fill at $1.04.
IMNN – Up over 180% in pre after announcing 11.1 month increase in overall survival in patients with newly diagnosed, advanced ovarian cancer treated with IMNN-001
Imunon Inc. (IMNN) is a clinical-stage biotechnology company that engages in the development of immunotherapies and vaccines to treat cancer and infectious diseases.
In the pre-market this morning, the company announced 11.1 month increase in overall survival in patients with newly diagnosed, advanced ovarian cancer treated with IMNN-001.
Highlights from patients treated with IMNN-001 plus standard-of-care in a first-line treatment setting include:
An 11.1 month increase in median OS compared with standard-of-care alone in the intent-to-treat population (ITT).
A hazard ratio in the ITT population of 0.74, which indicates a 35% improvement in survival.
Among the approximately 90% of trial participants who received at least 20% of specified treatments per-protocol in both study arms, patients in the IMNN-001 arm had a 15.7 month increase in median OS, representing a further extension of life with a hazard ratio of 0.64, a 56% improvement in survival.
For the nearly 40% of trial participants treated with a poly ADP-ribose polymerase (PARP) inhibitor, the hazard ratio decreased further to 0.41, with median OS in the IMNN-001 treatment arm not yet reached at the time of database lock, compared with median OS of 37.1 months in the standard-of-care treatment arm.
The first target for bulls is the pre-market high at $4.40.
Beyond that, $5, $5.50 and $6 come into play.
Below $4.40, targets to the downside are $3.50, $3, $2.50, $2 and then a gap fill at $1.19.
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TLRY – Up over 10% in pre after reporting better than expected revenue
Tilray Brands Inc. (TLRY) engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe and internationally. The company operates through four segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, and Wellness Business.
In the after-hours yesterday, the company reported a quarterly loss of $0.04 per share versus the consensus estimate of a loss of $0.02. This compares to break-even earnings per share a year ago.
Revenues of $229.88 million for the quarter ended May 2024 were better than a year-ago revenues of $184.19 million.
The stock traded up over 10% in the pre-market in reaction to the results.
The $1.95 area acted as support in the pre-market and will be an important level to watch.
Above it, targets to the upside are $2 and then the after-hours high at $2.07. Beyond that, $2.20, $2.30 and $2.50 come into play.
Below $1.95, targets to the downside are $1.92, $1.88, $1.85 and then a gap fill at $1.83.
MARKET NEWS 📰
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