Pre-market trading is heating up as Black Diamond Therapeutics, Inc. (Nasdaq: BDTX) surges on positive Phase 2 data for its cancer treatment BDTX-1535. Peraso Inc. (NASDAQ: PRSO) continues its expansion into the Asian markets and a major military contract. Kaival Brands (NASDAQ: KAVL) saw its stock surge in early trading today on merger announcement. Other stocks to watch include Banzai International Inc. (NASDAQ: BNZI), which saw a 97.51% rally after announcing a favorable share structure, Battalion Oil Corp (NASDAQ: BATL) on merger news, and Treasure Global Inc. (NASDAQ: TGL), experiencing unusual high volume on its innovative ZCITY Super App. Keep these stocks on your radar for potential moves. See more in-depth information below.
Black Diamond Therapeutics, Inc. (Nasdaq: BDTX) surging in pre-market trading on news released today on initial Phase 2 data on BDTX-1535, showing strong anti-tumor activity in patients with recurrent EGFR-mutant non-small cell lung cancer (NSCLC). At a 200 mg daily dose, BDTX-1535 demonstrated a 42% objective response rate (ORR) in 19 patients with EGFR resistance mutations, with a duration of response (DOR) of approximately 8 months for the first 3 patients. No new safety concerns were observed, and 14 of 19 patients remain on treatment. Regulatory feedback on the drug’s registration path is expected in Q1 2025, along with initial results for first-line NSCLC patients.
Peraso Inc. (NASDAQ: PRSO), announced today announced a purchase order for its High-Velocity Roaming (HVR) technology to enhance high-speed internet connectivity on trains in Korea, marking its continued expansion into the Asian market. This follows the announced of a major military contract for its advanced Perspectus module, which leverages 60 GHz mmWave RF technology for battlefield applications. The system enhances soldiers’ situational awareness and communication by reducing detection risks and interference through proprietary narrow-beamforming technology. Following this milestones, “Benchmark” issued a “Buy” rating with a $4 price target, citing the validation of Peraso’s technology in a highly demanding market. The firm expects broader adoption of Peraso’s mmWave solutions across military and commercial sectors, forecasting strong growth opportunities. The price target is based on FY25 revenue estimates of $16.2 million and 2.4 million shares outstanding. “Benchmark” also highlighted the potential of mmWave technology in the Fixed Wireless Access (FWA) sector, projecting it to drive long-term revenue growth. Read entire report.
Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) saw its stock surge over 200% today following the announcement of a merger with Delta Corp Holdings Limited, a fast-growing asset-light logistics company. The merger will form a new public entity, Delta Corp Holdings Limited, engaged in global logistics, energy, commodities, and asset management services. The transaction, valued at a 359% premium to Kaival’s stock price, will result in an implied price per share of $2.66, with Delta shareholders becoming the majority owners of Pubco. The deal is pending shareholder approval and Nasdaq listing, positioning the combined company for strong growth.
Banzai International Inc. (NASDAQ: BNZI) experienced a significant volume surge as the market responded favorably to its new share structure. Shares bounced from a low of $2.88 on Thursday to close at $5.68 on Friday, a 97.51% gain with 61,385,735 shares traded during regular hours. The rally extended into after-hours trading, positioning Banzai as a stock to watch through the end of September. As a marketing technology company, Banzai offers essential marketing and sales solutions for businesses of all sizes, with clients including Square, Inc. (NYSE: SQ), HP Inc. (NYSE: HPQ), Thermo Fisher (NYSE: TMO), and Thinkific Labs Inc. (TSE: THNC), among thousands of others.
Battalion Oil Corp (NASDAQ: BATL) Closed up 123.47% on Friday at $6.57 on 1,461,623 shares of trading volume. Following an amendment to its merger agreement with Fury Resources, Inc. Fury will acquire all outstanding Battalion common stock for $7.00 per share in cash, with key preferred stockholders, including Luminus Management and Oaktree Capital, exchanging their shares for new Fury preferred stock. Fury has secured $200 million in debt, $188 million in preferred stock, and $160 million in equity funding, leaving approximately $100 million in cash post-acquisition. The deal is pending Battalion stockholder approval and is expected to close in Q4 2024.
Treasure Global Inc. (NASDAQ: TGL) experiencing unusual high volume on pre-market trading today, a leading Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed the ZCITY Super App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards. The ZCITY Super App boasts over 2.7 million registered users, making a stock worth monitoring now.
As the market prepares for Monday, September 23, 2024, stocks like Black Diamond Therapeutics, Inc. (Nasdaq: BDTX), Peraso Inc. (NASDAQ: PRSO), Banzai International Inc. (NASDAQ: BNZI), Battalion Oil Corp (NASDAQ: BATL) and Treasure Global Inc. (NASDAQ: TGL) are worth monitoring closely for further developments today and beyond.
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