$TNXP, $RCAT, $KULR Moved on News. Looking at $SILO Silo Pharma

Congratulations to those traders and investors that profited from positive spikes on news. Updates on Red Cat Holdings $RCAT and KULR Technology $KULR follow below.

$TNXP has been amazing...soaring 800% in five trading days. In looking at the recent press releases for Tonix, there were updates on their fibromyalgia drug before today's news. After scanning for similar companies with fibromyalgia treatments in development, Silo Pharma $SILO came up with recent news on fibromyalgia. But first, a bit more on TNXP...

$TNXP Tonix Pharmaceuticals announced today that the FDA accepted the filing of its New Drug Application (NDA) for TNX-102 SL, the company's fibromyalgia drug candidate. https://finance.yahoo.com/news/tonix-pharmaceuticals-announces-fda-acceptance-130000940.html Just one week ago, TNXP was trading at $0.20 and today spiked to over $1.65 on huge trading volume on the news. It probably helped that TNXP was under additional pressure from tax loss selling (TNXP's 52 week high was $22.08).

$TNXP has been amazing...soaring 800% in five trading days. In looking at the recent press releases for Tonix, there were updates on their fibromyalgia drug before today's news. After scanning for similar companies with fibromyalgia treatments in development, Silo Pharma $SILO came up with recent news on fibromyalgia. 

$SILO Silo Pharma Inc. is another developmental stage biopharmaceutical company with a fibromyalgia treatment in its drug pipeline. https://finance.yahoo.com/news/silo-pharma-enters-joint-development-130500100.html  The company already has a New Drug Application (pre-IND) for the treatment of PTSD submitted to the FDA in June 2024. But the next drug in development is SP-26,a time release implant for fibromyalgia and chronic pain relief. Silo Pharma is also developing therapeutics for PTSD, stress-induced psychiatric disorders, chronic pain conditions, and central nervous system.  With a market cap of only $3.9 million, and a public float of 4.3 million shares, any future development on chronic pain and fibromyalgia treatments will attract biotech traders.  Silo also has been under pressure as a tax loss selling candidate considering its 52 week high is $3.47. Another catalyst? Short interest was up 30% from November 15 to November 30 and motivated short covering just contributes to any market reaction (like with $RCAT and $KULR).

Updates on $RCAT and $KULR

Red Cat $RCAT had a highly anticipated earnings call after the market close yesterday which attracted short term traders expecting (hoping?) for a bombshell announcement. Instead, the earnings call showed a decline in quarterly revenues BECAUSE Red Cat was awarded a US ARMY drone contract worth $265 Million and they were switching production over to the particular drone ordered. But the "overlooked" detail was the increase in management's revenue forecast for 2025 to $80 million-$120 Million from the previous forecast of $50 million-$55 Million.

KULR Technology $KULR had news today that probably surprised the shorters. As of November 30, there were 15.5 Million shares short. KULR announced plans to launch the KULR ONE Space (K1S) battery via launch integrator Exolaunch on a SpaceX rideshare mission helping to validate its battery technology. KULR had a good run in the past two weeks, so it may not be surprising to see profit taking.

NOTE: Do your own due diligence. Stocks mentioned are just trading/investing ideas to prompt more research.