Biotech Rally Builds as Markets Eye Buybacks and Breakouts

August 22, 2025

DENVER, Colo., Aug 22, 2025 (247marketnews.com)- Markets are kicking off with momentum as biotech and healthcare names lead the premarket watchlist, boosted by institutional moves, and strategic initiatives. Here’s a rundown of the morning’s most notable developments:

Incannex Healthcare (NASDAQ:IXHL) surged into focus this morning after announcing a $20 million share repurchase program, signaling management’s confidence in the company’s undervalued stock and deep clinical pipeline. President and CEO Joel Latham said the move “reflects our confidence in the strength of our pipeline… and the opportunities ahead.” With multiple late-stage trials in motion, the repurchase plan aligns with the company’s aim to enhance long-term shareholder value.

Modivcare (NASDAQ:MODV) filed for voluntary Chapter 11 protection in Texas to execute a comprehensive restructuring supported by a supermajority of its lenders. The company secured $100 million in DIP financing to ensure operations continue smoothly across its non-emergency medical transportation, personal care, and remote monitoring services. The plan will slash over $1.1 billion in debt and transition ownership to a new investor group. CEO Heath Sampson noted the move strengthens Modivcare’s foundation to lead in “coordinated care.”

Azitra (NYSE:AZTR) filed a new institutional disclosure revealing Alumni Capital holds over 2.6 million shares. Additionally, the company recently entered into a $20 million equity line agreement with Alumni to fund its clinical development pipeline, boosting confidence in its capital position.

LIXTE (NASDAQ:LIXT) continues to build momentum behind its lead PP2A inhibitor, LB-100, now in trials with Roche’s (OTCQX:RHHBY) atezolizumab and GSK’s (NYSE:GSK) dostarlimab. The company’s unique “lethal activation” approach to cancer treatment is gaining attention, particularly in MSS colorectal and ovarian cancers where current therapies fall short. The potential crossover into military medical infrastructure adds a speculative edge to the story.

Several of yesterday’s big movers, including Precigen (NASDAQ:PGEN), Tharimmune (NASDAQ:THAR), and Aptorum (NASDAQ:APM), continue to show technical strength without announcing new dilutive financing, which could set up further upside as traders hunt for momentum names with clean cap tables.

After nearly hitting a new 52-week high yesterday, Precigen (NASDAQ:PGEN) remains on watch. Investors continue to digest the company’s UltraCAR-T platform updates, including Phase 1/1b results for PRGN-3006 in AML showing durable anti-tumor activity and strong safety. All eyes are now on upcoming data from PRGN-3007 in solid tumors, which could further validate Precigen’s non-viral CAR-T approach.

Tharimmune (NASDAQ:THAR) is showing premarket strength as traders circle its TH104 buccal nalmefene film, designed for 24-hour fentanyl protection. Positive simulation results released earlier this week sparked speculation that TH104 could become a core component of federal preparedness strategies, especially for military and first responders operating in high-risk environments.

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