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FOCUS LIST🔎

BURU – Up over 50% in the pre-market after securing strategic $65 million funding program to accelerate commercialization, including $15 Million PIPE investment & $50M equity line of credit

VIRI – Up over 30% in pre after announcing merger with Wex Pharmaceuticals, Inc. to Form Dogwood Therapeutics, Inc. (Nasdaq: “DWTX”)

BPTH – Up over 48% in pre after announcing initiation of development of therapeutic program for treatment of obesity

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HOTLIST🔥

BURU – Up over 50% in the pre-market after securing strategic $65 million funding program to accelerate commercialization, including $15 Million PIPE investment & $50M equity line of credit 

Nuburu Inc. (BURU) engages in high-power, high-brightness blue laser technology business for welding and 3D printing industries worldwide.

In the after-hours yesterday, the company announced a comprehensive funding program of approximately $65 million, including $15 million of direct investment and $50 million equity line of credit.

The agreement is with Liqueous LP, a Delaware limited partnership.

The stock traded up over 50% in the pre-market in reaction to the news.

The $0.65 area acted as resistance in the after-hours and now becomes a potential support level.

Above it, targets to the upside are $0.72 and then the pre-market high at $0.85. Beyond that, $0.90, $1.05, $1.25 and $1.50 come into play.

Below $0.65, targets to the downside are $0.55, $0.50 and then a gap fill at $0.4471.

VIRI – Up over 30% in pre after announcing merger with Wex Pharmaceuticals, Inc. to Form Dogwood Therapeutics, Inc. (Nasdaq: “DWTX”) yesterday

Virios Therapeutics Inc. (VIRI) is a development-stage biotechnology company that focuses on developing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response.

In the pre-market yesterday, the company announced that Virios has entered into a definitive share exchange agreement with Sealbond Limited, an indirect parent of Wex, pursuant to which the companies will combine in an all-stock transaction.

Highlights of the deal include:

Strategic financing by an affiliate of CK Life Sciences Int’l., (Holdings) Inc., results in working capital of approximately $23 million to fund operations and advance Phase 2b Halneuron® development into 4Q25

Expanded pipeline includes a potential first-in-class non-opioid, NaV1.7 inhibition pain treatment, Halneuron®, currently in Phase 2b development for chemotherapy-induced neuropathic pain, with an expected interim readout 2H25

Near-term catalyst with top-line results from the IMC-2 Long-COVID Phase 2a study expected in early 4Q24

Existing VIRI stockholders to be granted a contingent value right (“CVR”) tied to potential milestone payments associated with any future corporate partnering transactions for IMC-1 and IMC-2

Company announces 25-for-1 reverse stock split of its common stock to be effective on October 9, 2024 to enable business combination and Nasdaq listing compliance

Despite an initially negative reaction to the deal yesterday, with VIRI down over 18%, the stock has paired losses and is gapping higher this morning, up over 30% in the pre-market.

The $0.18 area has acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $0.20, $0.22, $0.24 and then the pre-market high at $0.26.  Beyond that $0.28, $0.30, $0.33, $0.38 and $0.43 come into play.

Below $0.18, targets to the downside are $0.16 and then a gap fill at $0.1379.

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BPTH – Up over 48% in pre after announcing initiation of development of therapeutic program for treatment of obesity

Bio-Path Holdings Inc. (BPTH) operates as a clinical and preclinical stage oncology focused RNAi nanoparticle drug development company in the United States.

In the pre-market this morning, the company announced the initiation of a therapeutic program to develop BP1001-A for the treatment of obesity and related metabolic diseases. This program marks the first application of DNAbilize technology for development of a non-cancer application, which highlights the broad therapeutic potential of this technology.

The stock traded up over 48% in the pre-market in reaction to the news.

The first target for bulls is the pre-market high at $1.52. Beyond that, $1.60, $1.87, $2 come into play.

Below $1.52, targets to the downside are $1.40, $1.30, $1.20, $1.10, $1 and then a gap fill at $0.8513.

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