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
Aardvark Therapeutics Inc ( $AARD )pause of Phase 3 HERO trial in Prader
A closer look at the decision to voluntarily pause the Phase 3 HERO trial of ARD-101 in Prader–Willi syndrome, the emerging safety signal, the new competitive landscape in hyperphagia and the key milestones that will shape the path forward into and beyond the Q2 2026 update.
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BioNTech SE ADR ( $BNTX )From Covid Breakout to Oncology Powerhouse in the Making
How a Mainz-based research project turned into a global vaccine champion, and how the company is now trying to convert an unprecedented Covid cash pile into a multi-product oncology franchise built on mRNA, individualized vaccines and next-generation immunotherapies.
Arcturus Therapeutics Holdings Inc ( $ARCT ) March 3 earnings test
With Q4 2025 results and a strategic update due on March 3, 2026, Arcturus enters a high-stakes phase: the inhaled mRNA program in cystic fibrosis (ARCT-032) must justify its continuation after mixed Phase 2 data, while vaccine royalties, cost controls and a long cash runway are asked to support a pipeline increasingly focused on rare diseases.
War in Iran 2026 – Geopolitics, Oil Shock Risk and Market Winners & Losers
An editorial look at what the new Iran–Israel–US conflict could mean for global power balances, for oil and shipping routes, and for the sectors and individual stocks that tend to benefit or suffer when the Middle East becomes the epicentre of risk.
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Weekly Recap & Briefing – Iran War Risk, Energy Shocks and Catalyst Trading (Feb 23–27, 2026)
The new week opens with markets forced to reprice global risk after coordinated US–Israel strikes on Iran and retaliatory missile attacks on US bases across the Gulf and on Israel itself. Oil and shipping risk premia jump, while gold and defense stocks rediscover their role as hedges. At the same time, AI and chips are coming off a volatile stretch after Nvidia’s “beat and fade” reaction, Rocket Lab posts record revenue and backlog, and small-cap biotech continues to trade on single-name catalysts rather than broad factor flows. This recap looks at where we are, how the Iran conflict feeds into energy and risk assets, and which names go on the watchlist for the coming days across defense, energy, space, biotech and AI.
Uranium Energy Corp ( $UEC ) From explorer to integrated U.S. uranium supplier?
UEC is positioning itself as one of the key U.S. uranium names for the new nuclear cycle: in-situ recovery hubs in Texas and Wyoming, a large resource and project base in the United States and Canada, and the launch of a dedicated refining and conversion vehicle designed to move the company beyond the role of “pure miner” into the broader fuel value chain.
IREN Ltd ( $IREN )
IREN Limited, formerly Iris Energy, is rapidly transforming itself from a cyclical Bitcoin miner into a vertically integrated AI infrastructure provider, combining long-duration power contracts, hyperscale data centres and multi-year GPU cloud deals with blue-chip counterparties. The next phase of the story is all about execution: how fast the company can switch its asset base to AI, how stable those cloud revenues become and how it balances growth ambitions with leverage and dilution.
AtaiBeckley Inc. ( $ATAI ) Building a late-stage psychedelics platform Updated March & 2025
AtaiBeckley is no longer just “another psychedelics stock”: after the combination between atai Life Sciences and Beckley Psytech, the company now controls one of the most advanced late-stage pipelines focused on interventional psychiatry for treatment-resistant depression (TRD) and social anxiety disorder (SAD). The three flagship assets — BPL-003, VLS-01 and EMP-01 — are all in Phase 2 or entering Phase 3 planning, which puts AtaiBeckley structurally ahead of most early-stage psychedelics peers still working through small, single-site trials.
i-80 Gold Corp ( $IAUX ) Nevada hub-and-spoke gold growth story under construction
i-80 Gold Corp (IAUX) – Nevada hub-and-spoke gold growth story 2026 Gold & Precious Metals – Deep Dive 2026 i-80 Gold Corp (IAUX) – Nevada hub-and-spoke gold growth story under construction A Nevada-focused gold developer trying to turn a cluster…
BigBear.ai Holdings Inc ( $BBAI )
BigBear.ai is trying to turn years of work in defense intelligence, mission planning and logistics optimization into a scalable AI platform story, boosted by large capital raises and the acquisition of generative-AI partner Ask Sage. Revenues are meaningful and the cash cushion is large, but the path from contract wins to durable, profitable growth remains complex and execution-dependent.
SKYX Platforms Corp ( $SKYX ) Smart Ceiling Plugs
SKYX Platforms is trying to turn a seemingly boring standard – the ceiling light socket – into a plug-and-play infrastructure layer for lighting and smart-home devices, backed by dozens of patents, distribution partnerships and collaborations with larger technology players. Revenue growth is strong and the product vision is ambitious, but the business is still loss-making and depends on external capital, disciplined execution and a long time horizon.
Rocket Pharmaceuticals ( $RCKT ) — Q4/FY 2025 results Road to March28-Pdufa
This update is anchored to the company’s latest filing that laid out (1) the reiterated March 28, 2026 FDA action date for KRESLADI, (2) the resumption plan for Danon dosing in 1H 2026, and (3) the year-end 2025 cash position and runway guidance. The goal is to keep it neutral: what was said, what it implies, and where the remaining uncertainty still lives.
New Found Gold Corp ( $NFGC )
From pure exploration play to potential emerging producer: where New Found Gold stands after years of drilling at Queensway and the fresh Hammerdown PEA, and what really matters for risk/reward over the next cycle.
Americas Gold and Silver Corp ( $USAS ) Record production and the 2026 Inflection
Americas Gold and Silver Corporation (NYSE American: USAS / TSX: USA) is a Toronto-based junior silver producer with three active mining assets in the United States and Mexico. After years of restructuring, the company has entered a genuine inflection phase: FY2025 silver production reached a record 2.65 million ounces (+52% YoY), the Q3 FY2025 adjusted EBITDA turned positive for the first time, and analyst consensus revenue forecasts for FY2026 have been revised up by +265% to $383 million.
United States Antimony ( $UAMY ) – domestic critical minerals with a multi-year Pentagon angle
UAMY operates the only antimony smelters in North America and is trying to evolve from a small specialty-metals producer into a strategic supplier to the U.S. defense stockpile, underpinned by record revenue growth, a five-year Defense Logistics Agency contract and fresh capital to expand mining and processing capacity.
Kopin Corp ( $KOPN ) Defense-grade optical systems and NeuralDisplay pivot
Two-year timeline, current pipeline and ownership structure for a small-cap U.S. microdisplay specialist transitioning from R&D-heavy contracts to higher-margin defense and industrial production.
Mannkind Corp ( $MNKD ) after the Tresmi shock
A first full-scope look at MannKind after Q4 2025 results and United Therapeutics’ new soft-mist treprostinil product (“Tresmi”), with focus on revenue mix, 2026 catalysts, balance sheet, insider and institutional positioning, analyst expectations and retail sentiment around the latest 35–40% drawdown.
Intuitive Machines ( $LUNR ) 175M Equity Raise Lanteris Integration and the Road to a Space Prime
Update as of late February 2026: how the new 175M strategic equity investment, the Lanteris and KinetX acquisitions and NASA’s Near Space Network roadmap reshape the Intuitive Machines story – and when dilution turns into real infrastructure.
Ondas Holdings ( $ONDS ) Asia-Pacific defence contract Feb 2026
A new multi-phase contract with an Asia-Pacific government for autonomous unmanned aerial systems adds another piece to the Ondas puzzle – and fits into a broader defence-spending upswing that is favouring drone, counter-drone and autonomous surveillance platforms.
BlackSky Technology Inc ( $BKSY )
Q4 2025 delivered record quarterly revenue and a sharply narrower net loss, while management doubled down on Gen-3 very-high-resolution satellites and real-time AI analytics. At the same time, the new $100 million at-the-market equity program changed the risk-reward for equity holders. This report puts the latest numbers, the 2026 guidance and the capital structure into context, with a focus on how BKSY fits into the broader “Golden Dome” and space-defence narrative we follow at Merlintrader.