Pre-market trading brought some dramatic moves on Tuesday, with Cyclerion Therapeutics Inc. (CYCN) leading the charge after announcing it's expanding its strategic collaboration with Medsteer to advance its closed-loop anesthetic platform CYC-126. The stock surged 44.2% to $1.99 before the opening bell, giving investors an early morning jolt.
But Cyclerion wasn't the only stock making waves before most people finished their coffee. Here's a look at the other notable movers in pre-market action.
The Winners
Kandal M Venture Ltd (FMFC) jumped 40.9% to $0.47 in pre-market trading, building on Monday's 8% gain. The stock appears to be riding momentum from the previous session.
Aeva Technologies Inc. (AEVA) posted an impressive 24.2% gain to $16.26 after dropping some significant news: its Frequency Modulated Continuous Wave 4D LiDAR technology has been selected for the NVIDIA DRIVE Hyperion autonomous vehicle reference platform. That's the kind of partnership validation that gets investors excited about the future of autonomous driving technology.
KALA BIO Inc. (KALA) climbed 18.3% to $0.73 following an announcement that it settled approximately $10.6 million of debt. Cleaning up the balance sheet is always a positive catalyst for struggling companies.
Arbe Robotics Ltd (ARBE) rose 17% to $1.52 in pre-market action, continuing its upward trajectory after gaining 8% on Monday. The autonomous vehicle and robotics sector was clearly having a moment.
Alumis Inc. (ALMS) gained 16.4% to $9.67 ahead of a major data release. The company announced it will report topline data from the Phase 3 ONWARD clinical program evaluating envudeucitinib in patients with moderate-to-severe plaque psoriasis on Tuesday. Investors were positioning themselves ahead of the results.
OneStream Inc. (OS) surged 14.4% to $21.03 after Bloomberg reported that buyout firm Hg is nearing a deal to take OneStream private. Takeover speculation tends to light a fire under stocks, and this was no exception.
Oriental Culture Holding Ltd (OCG) rose 14.1% to $0.043 in pre-market trading, recovering from Monday's brutal 63% decline. The previous day's drop came after the company's Board determined a 1-for-220 share consolidation, with fractional shares rounded up. Tuesday's bounce suggests some investors see value in the rubble.
Big Tree Cloud Holdings Ltd (DSY) climbed 12.7% to $0.36 after the company received two notification letters from the Nasdaq. The content of those letters appears to have been taken positively by the market.
Zeta Global Holdings Corp (ZETA) gained 11.3% to $24.12 following news of a collaboration with OpenAI to power conversational intelligence and agentic applications behind its Athena platform. Anything involving OpenAI these days seems to get investor attention.
The Losers
MOBIX LABS, INC. (MOBX) led the decliners, falling 23.8% to $0.25 in pre-market trading after announcing a proposed public offering of common stock. Dilution fears sent shareholders heading for the exits.
Fitell Corp (FTEL) dropped 17.9% to $0.41 after announcing a 1-for-8 share consolidation. Reverse splits are rarely welcomed by investors, and this reaction was typical.
Datavault AI Inc. (DVLT) fell 12.4% to $1.26, giving back some of Monday's spectacular 43% rally. The previous session's surge came after the company announced a nationwide planned deployment of SanQtum in partnership with AP Global to support near-real-time tokenization, data exchange, and agentic monetization in 2026. Some profit-taking was perhaps inevitable.
BitVentures Ltd - ADR (BVC) declined 9.7% to $13.33 in pre-market trading after gaining 5% on Monday. Another case of giving back recent gains.
SOLAI Ltd - ADR (SLAI) dipped 8.5% to $0.77 after jumping 30% on Monday. When a stock moves that dramatically in one direction, some reversal is common.
Parazero Technologies Ltd (PRZO) fell 8% to $1.15 after gaining around 6% on Monday. The drone safety systems company couldn't maintain its momentum.
RedHill Biopharma Ltd (RDHL) shares dipped 7.9% to $1.29 in pre-market trading. This came after the company's shares jumped around 36% on Monday following an announcement of development progress for RHB-102. Like several other stocks on this list, it was simply giving back some of the previous day's gains.
Zenas Biopharma Inc. (ZBIO) tumbled 6.6% to $15.50 in pre-market trading, extending Monday's catastrophic 52% decline. The damage from Monday came after the company released results from the Phase 3 INDIGO trial of obexelimab in Immunoglobulin G4-Related Disease (IgG4-RD), and investors clearly didn't like what they saw.
Theravance Biopharma Inc. (TBPH) dipped 6% to $17.07 in pre-market trading after declining 3% on Friday. The biotech continued to slide as the week progressed.
Starfighters Space Inc. (FJET) fell 3.3% to $9.08 in pre-market trading after dipping 10% on Monday. The space company's shares continued their downward trajectory to start the week.
As always, pre-market movements can be volatile and don't always hold once regular trading begins. But they offer a useful preview of market sentiment and which stories are capturing investor attention.
