It looks like it could be a 🩸bloodbath today with disappointing earnings from TSLA and GOOGL last night.

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FOCUS LIST🔎

PIRS – Up over 70% in the pre-market after announcing definitive merger agreement with Palvella Therapeutics

HOTH – Up over 50% in pre after announcing partnership with LTS Therapy Systems to accelerate novel Alzheimer’s treatment 

ALLR – Up over 20% in pre after encouraging shareholders to Vote FOR the reverse stock split and decrease in authorized shares at AGM scheduled for Jul 26, 2024

HOTLIST🔥

PIRS – Up over 70% in the pre-market after announcing definitive merger agreement with Palvella Therapeutics

Pieris Pharmaceuticals, Inc. (PIRS) is a biotechnology company that discovers and develops biotechnological applications.

In the pre-market this morning, the company announced a definitive merger agreement with Palvella Therapeutics. 

The proposed merger will create a Nasdaq-listed, clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for serious, rare genetic skin diseases for which there are no FDA-approved therapies.

The combined company is expected to have approximately $80.5 million of cash and cash equivalents at closing, including approximately $78.9 million from an oversubscribed private financing with participation from a syndicate of leading healthcare-dedicated investors, which is expected to provide cash runway into the second half of 2027.

Anticipated cash and cash equivalents are expected to fund combined company through multiple clinical trial milestones, including pivotal Phase 3 clinical trial results from a single-arm, baseline-controlled clinical trial of QTORIN(™); 3.9% rapamycin anhydrous gel (QTORIN(™); rapamycin) for the treatment of microcystic lymphatic malformations currently being conducted under FDA’s Breakthrough Therapy Designation and Fast Track Designation programs

QTORIN(™); rapamycin has the potential to be the first approved therapy and standard of care in the U.S. for microcystic lymphatic malformations and cutaneous venous malformations, if approved

The transactions contemplated by the merger agreement have been unanimously approved by the boards of directors of both companies and are expected to close in the fourth quarter of 2024, subject to approvals by the stockholders of each company. 

Pre-merger Pieris stockholders are expected to own approximately 18% of the combined company and pre-merger Palvella stockholders are expected to own approximately 82% of the combined company, in each case, prior to the issuance of the shares under the concurrent private financing.

Shares of PIRS traded up over 70% in the pre-market in reaction to the news of the merger.

The $14.60 area acted as resistance in the pre-market and will be an important level to watch. Above it, targets to the upside are $15 and then the pre-market high at  $15.83. Beyond that, $17, $17.60, $18 and $19 come into play.

Below $14.60, targets to the downside are $14,  $13.38, $13, $12, $10.60, $10 and then a gap fill at $7.98. 

HOTH – Up over 50% in pre after announcing partnership with LTS Therapy Systems to accelerate novel Alzheimer’s treatment 

Hoth Therapeutics, Inc. (HOTH) is a clinical-stage biopharmaceutical company that focuses on developing therapies for unmet medical needs.

In the pre-market this morning, the company announced it had secured a  partnership with LTS Therapy Systems to accelerate novel Alzheimer’s treatment.

The partnership with LTS Therapy Systems LLC (LTS) is to develop and manufacture the HT-ALZ oral film prototype. HT-ALZ is being developed as a novel therapeutic solution for Alzheimer’s Disease based on its exciting preclinical results released earlier this year. HT-ALZ’s pre-clinical significance lies in its ability to restore cognitive functions and improve quality of life for subjects suffering from Alzheimer’s disease.

Treatment of pre-clinical subjects showed cognitive benefits that suggest HT-ALZ’s mode of action may involve a reduction in brain inflammation, thereby improving cognitive outcomes for Alzheimer’s patients.

The pre-clinical research shows compelling evidence of HT-ALZ’s capacity to improve memory tasks related to the hippocampus and sensorimotor gating, showcasing an important step forward in Alzheimer’s disease treatment.

HOTH shares traded up over 50% in the pre-market in reaction to the news. 

The $1.25 area acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $1.50, $1.56, $1.70 and then the pre-market high at $1.94. Beyond that, $2.20, $2.40 and $2.60 come into play.

Below $1.25, targets to the downside are $1.20, $1.10 and then a gap fill at $0.9720.

ALLR – Up over 20% in pre after encouraging shareholders to Vote FOR the reverse stock split and decrease in authorized shares at AGM scheduled for Jul 26, 2024

Allarity Therapeutics Inc. (ALLR) is a clinical-stage biopharmaceutical company that engages in developing oncology therapeutics using drug-specific companion diagnostics generated by its drug response predictor technology.

In the after-hours yesterday, the company released a PR statement encouraging shareholders to Vote FOR the reverse stock split and decrease in authorized shares at AGM scheduled for Jul 26, 2024.

The company stated:

the reverse stock split is essential to enabling compliance with this objective. If the reverse stock split is not approved by the Company’s stockholders, the Company’s common stock may be delisted from Nasdaq. Put simply, a Nasdaq delisting could complicate stockholder’s ability to trade the Company’s common stock, impact its stock price and affect stockholder’s ability to buy or sell when desired.

Therefore, the Board of Directors emphasizes the importance of this stockholders’ vote, specifically urging for a positive vote FOR the reverse stock split as well as FOR the decrease in authorized shares.

The stock traded up over 20% in the pre-market in reaction to the press release.

The $0.20 area acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $0.22, $0.24, $0.26, $0.30, $0.33 and then the after-hours high at $0.3589.

Below $0.20, targets to the downside are $0.18 and then a gap fill at $0.1665. Below that is all-time lows at $0.1535.

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