DISCLAIMER — Not financial advice. Educational content only, not an offer or solicitation to buy or sell any security. Biotech and small/mid-cap stocks are highly speculative and volatile and can result in a partial or total loss of capital. Do your own research and consult a licensed advisor where appropriate. / Contenuti a solo scopo informativo e didattico, non costituiscono consulenza finanziaria né offerta o sollecitazione al pubblico risparmio ai sensi delle normative CONSOB e SEC. Le azioni biotech e le small/mid cap sono strumenti altamente speculativi e volatili e possono comportare la perdita parziale o totale del capitale investito. Si raccomanda di effettuare sempre le proprie ricerche e, se necessario, di rivolgersi a un consulente abilitato.

Merlintrader Trading Pub
Biotech catalyst news and analysis. FDA PDUFA tracker

Merlintrader Trading Pub
Biotech catalyst news and analysis. FDA PDUFA tracker
Zeta Global Holdings Corp ( $ZETA )

Zeta Global ended 2025 with roughly $1.3 billion in revenue, high-20s growth, expanding margins and a still-modest GAAP net loss, while launching a strategic collaboration with OpenAI to power Athena, its enterprise AI marketing agent. The investment case now revolves less around “can they grow” and more around “can they sustain growth, expand margins and prove that their data and AI stack is truly differentiated.
SeaStar Medical Holding Corp ( $ICU )

SeaStar Medical announced completion of the FDA-mandated enrollment requirement (50 patients) for the SAVE Surveillance Registry evaluating QUELIMMUNE safety in pediatric AKI with sepsis requiring continuous kidney replacement therapy (CKRT).
Atara Biotherapeutics (ATRA): after the new tabelecleucel update, a second attempt at an FDA path

Two months after the FDA’s complete response letter on tabelecleucel for EBV+ PTLD, Atara and partner Pierre Fabre are back in Washington with a Type A meeting request and a thick briefing book. The goal is simple but ambitious: convince the agency that the data set behind EBVALLO, already approved in Europe, can still support a viable U.S. path despite the sudden change of tone on the ALLELE trial.
Altimmune Inc ( $ALT ) Q4 2025 results and plans 2026 global Phase 3 MASH

Altimmune closes 2025 with $274 million in cash and short-term investments and roughly $340 million pro forma after a January 2026 direct offering, while its lead asset pemvidutide moves toward a global Phase 3 trial in MASH and a key Phase 2 readout in alcohol use disorder (RECLAIM) expected in Q3 2026.
CorMedix (CRMD) – From single-asset grind to commercial anti-infective platform

A narrative and technical deep dive on CorMedix after full-year 2025 and Q4 numbers: what DefenCath plus Melinta really changed, how the new P&L looks, and where the risk-reward sits going into 2026–2027.
Castellum Inc ($CTM) – FY 2025 Results & 2026 Execution

On March 4, 2026, Castellum Inc. announced its unaudited FY 2025 financial results, and the numbers reveal a company that has fundamentally shifted trajectory. After years of acquisition-driven roll-up activity, balance sheet stress, and constant capital raises, CTM is now reporting organic revenue growth, positive adjusted EBITDA, and—perhaps most significantly—has completely eliminated all outstanding debt. This is not a dramatic overnight turnaround; rather, it is the culmination of methodical execution: progressive debt paydown, operational efficiency improvements, successful Navy contract wins, and a disciplined capital allocation strategy that prioritizes sustainability over growth-at-any-cost.
BioXcel Therapeutics Inc ( $BTAI ) BXCL501 in opioid withdrawal

Positive topline Phase 2 results from a Columbia University-led study suggest that BXCL501 may match or outperform lofexidine in opioid withdrawal, with a cleaner tolerability profile. But BioXcel is still a small-cap with a fragile balance sheet: can this new data point reshape the long-term story for IGALMI/BXCL501 and the broader pipeline?
Palladyne AI Corp ( $PDYN ) Deep Dive after Q4 & 2025 Full year Results

A detailed look at Palladyne AI’s fiscal 2025 numbers, backlog and capital structure after the latest annual report and guidance update.
Verastem Oncology ( $VSTM )

First commercial year for AVMAPKI FAKZYNJA CO-PACK in KRAS-mutant LGSOC delivered $30.9M in net product revenue, Japan’s RAMP 201J bridged exposure and responses in both KRAS-mutant and wild-type disease, and management now promises a self-sustaining LGSOC franchise by 2H 2026 — with RAMP 301 confirmatory data only in mid-2027.
Aquestive Therapeutics ( $AQST ): Anaphylm after the CRL

Aquestive remains pre-commercial on Anaphylm, with a manufacturing-driven revenue base, a sizeable cash cushion and a clearly negative EBITDA profile in 2026 as it funds the resubmission and maintains a pre-launch infrastructure.
BriaCell Therapeutics Corp ( $BCTX ) Phase 3 BRIA-ABC

BriaCell Therapeutics Corp. is a clinical-stage immuno-oncology company developing cell-based therapies for advanced breast cancer and other solid tumors. The core asset, Bria-IMT™ plus a checkpoint inhibitor, is in a pivotal Phase 3 study (BRIA-ABC) in heavily pre-treated metastatic breast cancer (MBC) under FDA Fast Track designation.
SNDL Inc. ( $SNDL ) from meme cannabis trade to cash-rich retail platform

SNDL today is a hybrid animal: one of Canada’s largest private liquor and cannabis retailers, a vertically integrated cannabis operator and an investment platform deploying capital into the North American industry. The numbers are getting cleaner, the balance sheet is strong, but the equity story is still controversial.
Aurora Cannabis Inc ( $ACB ) Medical Cannabis Leader + Strategic Pivot to Global Markets

Aurora Cannabis is a Canadian medical cannabis company undergoing a strategic transformation. In Q3 FY2026 (ended December 31, 2025), Aurora reported estimated $94.2M CAD in net revenue (+7% YoY), with record medical cannabis revenue of $76.2M CAD (+12% YoY). The company is pivoting aggressively toward high-margin global medical markets (especially Germany, Poland, Australia, UK), exiting lower-margin consumer segments in Canada, and divesting its plant propagation business.
Ocugen Inc ( $OCGN ) MAR 04 Bussines Update

Q4 2025 business update in focus: where Ocugen stands after another loss-making year, how the OCU400/410 platform is evolving, and what really matters for the next 18–24 months in gene therapy and anti-aging.
Klotho Neurosciences Inc. ( $KLTO )

EN IT NASDAQ: KLTO Klotho Neurosciences Inc. Gene Therapy for Neurodegeneration + Strategic Minerals Division Market Cap: ~$39.6M | Price: $0.54 | YTD: -86.2% Chart: 1-year daily bars | Current Price: $0.54 | 52-week range: $0.11–$3.91 Data as of March…
Ondas – $20M initial border-defense order ( $ONDS )

Ondas’ Airobotics subsidiary has received a $20 million initial purchase order as prime contractor under a strategic national Autonomous Border Protection Program – the formal launch of a multi-year, multi-phase architecture built around thousands of AI-driven drones.
Can-Fite Biopharma Ltd ADR ( $CANF )

Deep dive after the March 4, 2026 Phase IIa update of Namodenoson in advanced pancreatic ductal adenocarcinoma (PDAC), with a full look at pipeline, balance sheet, governance, bull & bear case, and retail sentiment.
Actelis Networks ( $ASNS ) – Cyber-Hardened Networking For Critical Infrastructure In 2026

Ultra-microcap deep dive on Actelis Networks after a series of transportation, utility and carrier orders, reverse split and financing moves. Focus on the core technology, recent contracts, balance sheet stress and the asymmetry between operational progress and capital structure risk.
Asana Inc ( $ASAN ) Scaling SaaS & 2026 Growth Trajectory

Asana Inc. (ASAN) – Work Management Platform & 2026 Growth Trajectory NYSE: ASAN · SaaS · Work Management Platform Asana Inc. (ASAN) – Scaling SaaS and 2026 Growth Trajectory SaaS deep-dive report – focus on product platform, financial performance, customer…
Ocugen Inc ( $OCGN )

Headline today: Ocugen will host its Q4 and full-year 2025 conference call and live webcast today at 8:30 a.m. ET (14:30 CET), giving investors a first chance to hear management on cash, strategy and the OCU400 program, just days after the company announced completion of enrollment in the Phase 3 liMeliGhT trial for retinitis pigmentosa.