Kala Pharmaceuticals [KALA] - Last Close: $0.2821
Kala Pharmaceuticals is surging in today's premarket.
The biopharma firm is running hot after a couple of recent news stories hit the market.
Yesterday, the micro-cap company announced plans for a reverse stock split, although the split's ratio was not immediately revealed.
The matter is still up for shareholder vote, but Kala's board of directors is advising a 'yes' vote from shareholders.
Kala also recently announced it would focus its efforts on developing its KPI-012 drug candidate to treat rare and severe ocular diseases.
KALA is trading actively with a 20.5% gain in today's premarket.
My Take: Hard to say why this one is running hot all of a sudden. The reverse stock split news doesn't seem to add up to this type of rally. Tread lightly here.
Nuwellis Inc [NUWE] - Last Close: $0.6301
Upbeat drug data is lifting shares of NUWE.
The medical device company announced today that new clinical data revealed coronary bypass grafting patients using its Aquadex FlexFlow System demonstrated a 100% survival at 30 days.
Nuwellis published the study's key clinical data in the Journal of Cardiac Surgery under the title: The Use of Simple Ultrafiltration Technology as a Fluid Management Strategy for High-Risk Coronary Artery Bypass Grafting Surgery,
The company says it will continue to gather data about the use of Aquadex for challenging patient populations such as this.
NUWE is up 58.7% on active trading volume.
My Take: This is a very small-float stock, so it's no surprise we're seeing such a sharp move. Shorts are relatively low at 0.22%, but the small float is throwing extra fuel on this rally.
