Midday Market Notes: June 24, 2025

June 24, 2025

DENVER, Colo., Jun 24, 2025 (247marketnews.com)- Nektar Therapeutics (NASDAQ:NKTR) is one of today’s headliners, which surged in early trading following breakout data from its REZOLVE‑AD Phase 2b study for rezpegaldesleukin in atopic dermatitis. With a rapid onset of EASI improvement and itch relief noted by Prof. Silverberg, and no typical side effects seen with competitor biologics, the stock is enjoying a major bump. CEO Howard Robin emphasized the drug’s potential as a regulatory T-cell therapy for autoimmune diseases. A fast-track FDA designation for AD further boosts confidence. NKTR now trades at 13-month highs, with the promising data reshaping investor perception of the company’s immunology pipeline.

Nano Labs (NASDAQ:NA) shocked markets by announcing it will issue $500M interest‑free convertible notes to fund a $1B Binance Coin (BNB) purchase, aiming to hold 5–10% of BNB’s circulating supply. Shares ran to a two‑year high, following a major thematic shift into blockchain assets.

Venu (NYSE:VENU) shares are flat after rallying about 50% since our prior alert. The momentum resulted in bullish technical signals: the 20-day SMA above the 50-day, which in turn is above the 200-day, along with multiple indicators flashing green. The dip appears tied to short sellers and Venu remains under many analysts’ price targets, suggesting further upside. With the stock still below those targets and on hard-to-borrow lists, the stage is set for a potential short squeeze setup.

OneMedNet (NASDAQ: ONMD) is seeing renewed attention following its $3.7M private placement, which raised funds by selling shares at $0.42 each. The company also announced sweeping balance sheet improvements, including the settlement or conversion of about $11M in liabilities, a 60% reduction from its levels on March 31, 2025. The move set shares on fire, doubling around two-year highs, following crypto treasury plays, like Circle Internet.

InMed Pharmaceuticals (NASDAQ:INM) is up over the past five sessions, amid a rally over the last week. The biotech is focused on cannabinoid- and small-molecule-based therapies for neurodegenerative, ocular, and dermatologic diseases, is drawing renewed interest thanks to a tight float (0.17M shares), 54% short interest, and recent preclinical successes, including progress in Alzheimer’s, glaucoma, and epidermolysis bullosa.

Eyenovia (NASDAQ:EYEN) has pushed to session highs following encouraging updates regarding its micro-pulse delivery platform under development for presbyopia. Market chatter suggests positive data from ongoing Phase 3 trials and potential for partner-led commercialization, lifting investor sentiment ahead of expected updates.

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