Tuesday morning kicked off with mixed stock futures, but the real action happened after the closing bell Monday. Here's what moved in extended trading and could grab attention when the market opens.
TEN Holdings Inc. (XHLD) announced a $2.25 million private placement of 991,000 shares priced at $2.27 per share. The stock climbed 17% to $1.65 in after-hours trading. Yes, you read that right—shares sold at $2.27 are now trading well below that level, which tells you something about how the market is digesting this capital raise.
Fonar Corp. (FONR) had the biggest move of the bunch, surging 24% to $18.18 in extended hours after announcing it signed a definitive agreement for a take-private sale. Going private typically means management or outside buyers think the stock is undervalued, and shareholders seem to agree with the premium being offered.
On the flip side, CapsoVision Inc. (CV) dropped 11% to close at $11.58 on Monday after submitting its 510(k) application to the FDA for its proprietary AI-assisted module for CapsoCam Plus. The FDA submission is typically seen as a positive step toward commercialization, but the market's reaction suggests investors might be worried about the approval timeline or competitive landscape.
Verastem Inc. (VSTM) announced its intent to discontinue the RAMP 203 clinical study in advanced KRAS G12C-mutated non-small cell lung cancer. The biotech's shares fell 2.7% to $7.55 in after-hours trading. Shutting down a clinical trial is never great news, though the relatively modest decline suggests this wasn't a make-or-break program for the company.
Meanwhile, Dermata Therapeutics Inc. (DRMA) announced the closing of a $12.4 million private placement priced at-the-market under Nasdaq rules. The stock jumped 10.2% to $2.05 in after-hours trading, as investors welcomed the influx of cash to fund operations.
These after-hours moves set the stage for what could be an interesting Tuesday trading session. Keep an eye on how these stocks perform once regular trading begins.
