Today’s Top Market News and Trades

March 24, 2025

DENVER, Colo., Mar 24, 2025 (247marketnews.com)- Kraig Biocraft Laboratories (OTCQB:KBLB), a trailblazer in spider silk biotech, today unveiled a stunning leap forward: the largest spider silk gene insert ever engineered into silkworms, nearly doubling the previous record. This milestone, spearheaded by Kraig’s Research Manager, Dr. Xiaoli Zhang and her team, turbocharges the quest for next-gen spider silk fibers boasting superior strength, flexibility, and performance.

The real kicker isn’t just the insert’s size—it’s the genetic payload, unlocking complex proteins that could transform silk’s mechanical properties. “This opens a new frontier for spider silk tech,” Dr. Zhang noted, highlighting how these beefy gene packets pave the way for materials that outstrip today’s limits. Kraig Labs is already eyeing the payoff: tougher, smarter fibers for everything from high-performance textiles to defense gear.

While pushing this breakthrough, Kraig Labs is ramping up production of its current strains for market entry. With a $60 billion high-performance fiber market in sight, the company’s dual-track strategy—scale now, innovate next—positions it to weave a big future. Updates on both fronts are promised as Kraig Labs spins its web wider.

MicroAlgo (NASDAQ:MLGO) announced, Friday afternoon, that it’s set to bolster its balance sheet with a fresh issuance of shares at $0.80 each, as it moves to repay a $20 million convertible bond inked with creditors on October 7, 2024. This strategic step follows a creditor push to convert the 360-day bonds into equity, leveraging terms that peg the conversion price at 70% of the lowest closing market price over the prior 60 trading days—a figure now landing at $0.80 per share.

The convertible bond deal, first detailed in a Form 6-K filing with the U.S. Securities and Exchange Commission (SEC) on October 9, 2024, gave creditors the green light to swap debt for stock. “This move aligns with our financial strategy while fulfilling our commitments,” a company spokesperson noted, framing it as both a debt-clearing play and a risk disclosure for investors.

Treasure Global (NASDAQ:TGL) unveiled a strategic initiative to develop and deploy an advanced AI cloud infrastructure in Malaysia that’s capable of supporting AI models up to one trillion parameters, positioning it among the most powerful AI computing environments in Southeast Asia.

Carlson Thow, Treasure Global’s CEO, commented, “The shift toward AI-native enterprises is accelerating, and the Company is committed to enabling this transformation by building world-class infrastructure. This initiative not only expands our technological footprint but also unlocks new opportunities to create long-term value for our customers and shareholders.”

TEN Holdings (NASDAQ:XHLD) reported that it’s able to add conversational AI solutions to its service offering through its V-Cube partnership.

Randy Jones, CEZO of TEN Holdings, stated, “At TEN Holdings, Inc., we are committed to delivering the most advanced and effective solutions for our clients. By now offering conversational AI solutions, we believe we can elevate the virtual event experience while empowering event companies to scale more effectively and make data-driven decisions.”

Evofem Biosciences (OTCQB:EVFM) is riding a wave of resilience, posting its fourth straight year of net sales growth with $19.4 million in 2024, up 6% from $18.2 million in 2023. The women’s health innovator slashed operating expenses by 27% (excluding $0.6M non-cash amortization) to $26.4 million, down from $36.1 million, driving a 57% improvement in operating loss to $7.7 million from $17.8 million. PHEXXI, its hormone-free contraceptive gel, fueled most of the gains, boosted by a January 2024 price hike and lower returns, while the July 2024 acquisition and November relaunch of SOLOSEC—a single-dose bacterial vaginosis treatment—added fresh revenue streams.

Sales and marketing costs dropped to 47% of net sales for the year (from 64% in 2023), hitting a post-PHEXXI-launch low of 31% in Q4—the leanest yet. Q4 net sales soared to $7.1 million, a 48% jump from $4.8 million in 2023, propelled by PHEXXI’s price bump and SOLOSEC’s debut. Operating expenses held steady at $8.1 million (down 1%), trimming the Q4 operating loss to $1.0 million from $3.4 million. Net loss for the year was $8.9 million, a stark contrast to 2023’s $53 million gain skewed by a one-off debt wipeout, with Q4 at $3.0 million (including a $0.7M equipment write-down) versus $2.1 million last year.

Strategically, Evofem’s July 2024 sourcing deal with Windtree Therapeutics (NASDAQ:WINT) aims to cut PHEXXI costs, eyeing profitability and global expansion. Its merger with Aditxt, Inc. (NASDAQ:ADTX), amended March 20, 2025, secures $1.5 million by April 7, with a stockholder vote by September 26 and closure by September 30.

Windtree Therapeutics is among this morning’s most active listings, joining Playa Hotels & Resorts (NASDAQ:PLYA), and Integrated Media Tech (NASDAQ:IMTE).

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