Major Nasdaq Stock Gainers Under $2: SPIR, INO, XCUR, AMRS

The Nasdaq index is up by nearly 40% for the year amid renewed interest in risk the market. The gains have mostly been fueled by tech giants and companies with exposure to artificial intelligence technology. With premium valuation becoming a point of concern in the market, small-cap plays in the market are emerging as solid plays.

SPIR, INO, XCUR, and AMRS are some small-cap companies trading for less than $2 on the Nasdaq that are showing signs of breaking out backed by solid technologies and game-changing products and services.

Spire Makes Strides in $447 Billion Space Market

Spire Global Inc. (NYSE: SPIR) has been showing signs of breaking out as it continues to tap into the $447 billion space market opportunity. It has started reaping the rewards of creating an accessible ready-to-use contestation of Earth-observing satellites in space. With over 100 low earth multi-use receiver satellites, it is becoming a big player in space as a service business.

The global provider of space-based data and space services is increasingly powering applications that enhance and drive predictive decision-making analytics for accurate ship monitoring. For instance, its technology is already being used to track and monitor every grain shipment out of Ukraine. The technology has made it possible to monitor cargo ships in real time.

SPIR has already been selected by Navidium, a software company active in the maritime industry, to provide real-time automatic identification systems for tracking vessels in the higher sea. Navidium is to integrate the technology to track vessel positions and end routes to various destinations.

LEMUR satellites feature a radio spectrum and can identify vessels that jam signals or engage in spoofing. The technology is already finding great use from companies and governments that use radio frequency for international intelligence purposes for public safety and commercial insights.

In addition, Spire has built an AI platform that offers farmers valuable insights, allowing them to maximize their yields and analyze various risks. The valuable data helps provide valuable agriculture insights worldwide.

The provider of space-based data analytics is already attracting deals and interest for its technology. OroraTech, a global-based thermal intelligence firm, is the latest to show interest. The two have signed an agreement to build and launch an eight-satellite constellation to monitor global temperature.

Once built and in operation, the eight-satellite constellation will be the largest capable of tracking and monitoring wildfires. The deal further strengthens Spire’s push for market share in the $39 billion space services sector.

Additionally, Rocket Lab USA (Nasdaq: RKLB) has teamed up with Spire Global as it looks to deliver its first space situational awareness satellites to low earth orbit. The strategic partnership affirms Spire Global’s need to develop a space-as-a-service model that removes prohibitive costs and complexity. Consequently, companies like Rocket Lab can now develop and deploy cutting-edge technologies from the point of space.

Meanwhile, Spire Global space as a service is poised to receive a significant boost from the company successfully launching and making contact with two satellites on the SpaceX Transporter 8 mission. The launch should allow SPIR to reduce data latency and strengthen communication security significantly.

The launch of the satellites builds on an in-orbit technology demonstration whereby Spire successfully showed how to transmit and detect optical signals. The use of optical links is expected to lead to higher enhanced security and efficiency and resiliency to interference.

Inovio Secures Orphan Drug Designation in the US and Europe for INO 3107

Inovio Pharmaceuticals Inc. (NASDAQ: INO), a biotechnology company focused on discovering and developing DNA medicines for treating cancer and other infectious diseases, has seen an uptick in activity in the market. The penny stock has started bouncing after being under immense pressure for the better part of the year.

The bounce back coincides with the biotechnology company announcing it has secured an orphan drug designation for INO 3107 from the European Commission. The designation covers its novel treatment for recurrent respiratory papillomatosis (RRP). The novel treatment is designed to elicit a T-cell response against HPV 6 and HPV 11, common causes of RRP.

The orphan drug designations come on the heels of the European Committee for Orphan Medicinal Products providing a positive opinion on Inovio’s application. It marks a significant milestone in INO 3107, becoming the first RRP product to secure designations from the US and the EU regulatory bodies.

The orphan drug designation in the US and the EU acknowledges the high unmet medical need of people suffering the debilitating condition. It also marks an important step in the development process, as Inovio is now eligible for financial and regulatory incentives to accelerate the development and authorization of the novel treatment.

Exicure Restructuring Drive to Unlock Value Gathers Pace

Exicure, Inc. (Nasdaq: XCUR), an early-stage biotechnology company that develops nucleic acid therapies, has nearly doubled in value over the past month. The 70% plus rally has come on the company announcing a restructuring drive away from the biotechnology business to focus on exploring strategic alternatives for maximizing stockholders’ value.

Following the appointment of Jung Sang Kim as the Chief Executive Officer and Chief Financial Officer, the focus shifted to evaluating strategic transaction alternatives involving various industries and businesses. The initiatives include selling certain assets and exploring growth through transactions with potential partners.

The restructuring drive builds on purchasing a $1 million aggregate principal amount of convertible bonds in Cyworld Z Co Ltd. The investment paves the way for SCUR to explore strategic alternatives to maximize stockholder value. Cyworld is a leading SNS platform with over 30 million members. Its app has become the most downloaded in Korea, attracting over $10 million in investments.

Amyris Targets $250 Million Cost Reduction to Boost Margins

Amyris, Inc. (Nasdaq: AMRS), a leading synthetic biotechnology company specializing in creating and commercializing clean beauty personal care health and wellness products, has been in fine form in the market. The stock has already broken out, signaling to strengthen investor sentiments in the market.

The impressive run in the market comes from the biotechnology company engaging the services of PricewaterhouseCoopers to execute a program focused on accelerating improvements in cost and capital structure. In the recent past, AMRS has initiated a strategic review of its cost structure as it looks to trim its expenditure of approximately $250 million from the cost of goods sold, operating expenses, and workforce reduction.

The cost reduction drive is a necessary step in the evolution of Amyris as it seeks to enhance its operational efficiencies and achieve sustainable growth. The restructuring should also accelerate the path to profitability in the race to unlock more shareholders’ value.

The biotechnology firm has also entered into an exclusive license agreement with Croda International. The agreement is for the supply of sustainable squalene, a bio-fermentation adjuvant based on Amyri’s unique Lab to Market technology platform. The compound is used to improve immune responses.

Amyris will receive $4 million in upfront payment for the agreement and a future $4 million performance-based payment. The biotechnology company is also entitled to a share of profits from selling Squalene excipients and other formulated products using its technology. Amyris controls about 70% of the world’s squalene market.