DISCLAIMER — Not financial advice. Educational content only, not an offer or solicitation to buy or sell any security. Biotech and small/mid-cap stocks are highly speculative and volatile and can result in a partial or total loss of capital. Do your own research and consult a licensed advisor where appropriate. / Contenuti a solo scopo informativo e didattico, non costituiscono consulenza finanziaria né offerta o sollecitazione al pubblico risparmio ai sensi delle normative CONSOB e SEC. Le azioni biotech e le small/mid cap sono strumenti altamente speculativi e volatili e possono comportare la perdita parziale o totale del capitale investito. Si raccomanda di effettuare sempre le proprie ricerche e, se necessario, di rivolgersi a un consulente abilitato.
Read / Leggi Disclaimer

SAVA Cassava Sciences Inc

As of late 2025, Cassava is a small-cap CNS company trading in the low-single-digit USD range after its lead Alzheimer’s drug, simufilam, failed in Phase 3 and the program was discontinued.

TBPH Theravance Biopharma Inc

Over the last weeks of 2025, several themes have dominated coverage on TBPH: a clearly positive Q3 2025 earnings print (revenue up high-teens percent year-on-year, earnings swinging to a small profit), a sizeable analyst re-rating with average price targets in the mid-to-high twenties per share, and a steady drumbeat of commentary framing Theravance as a “growth” or “momentum” stock again rather than a restructuring situation.

VRDN Viridian Therapeutics Inc

Viridian Therapeutics is trying to become the second major commercial player in thyroid eye disease after Amgen’s Tepezza, with a TED franchise built around veligrotug (IV) and VRDN-003 (subcutaneous), plus an FcRn platform (VRDN-006/008) that targets broader autoimmune indications.

PROK ProKidney Corp

ProKidney is a late clinical-stage cellular therapeutics company focused on a single lead product: rilparencel, also known as REACT (Renal Autologous Cell Therapy).

MBRX Moleculin Biotech 

Deep dive on Moleculin Biotech, Inc. (NASDAQ: MBRX), a Phase 3 oncology company built around Annamycin (AnnAraC) in relapsed/refractory AML, with additional programs in STS lung metastases, brain tumors and viral indications. We walk through MIRACLE’s design and timelines, Phase 1b/2 AML data, the latest December 2025 updates, the balance sheet and why the stock still trades like a distressed nano-cap.

ADGM Adagio Medical Holdings

Adagio Medical is not a biotech but a medical device company developing catheter-based ultra-low temperature cryoablation (ULTC) systems for cardiac arrhythmias: atrial fibrillation (AF), atrial flutter and ventricular tachycardia (VT). Its technology uses near-critical nitrogen to reach temperatures as low as −196°C in a linear catheter system, aiming to create rapid, continuous, transmural lesions.

PCSA Processa Pharmaceuticals Inc

PCSA

Processa Pharmaceuticals is a clinical-stage company built around a simple idea: instead of discovering entirely new oncology molecules, it re-engineers existing, FDA-approved chemotherapies to improve their therapeutic index. The Next Generation Cancer (NGC) platform aims to keep the same cancer-killing mechanism, while changing metabolism and distribution to reduce toxicity and potentially increase efficacy.

MBIO Mustang Bio Inc

Mustang Bio is a clinical-stage biotech focused on CAR-T and oncolytic virus approaches for hard-to-treat cancers and rare diseases. The science is interesting (especially around MB-106 and MB-101), but cash is tight, dilution is heavy and the going-concern risk is real. Here we lay out numbers, pipeline, sentiment and risk without any promotional angle.

SLS SELLAS Life Sciences Group Inc

SELLAS Life Sciences is a late-stage oncology biotech whose near-term equity story is dominated by a single survival-driven Phase 3 trial (REGAL with GPS in AML maintenance) and a rapidly de-risking CDK9 program (SLS009 in AML-MR).

BEAM Beam Therapeutics

Beam Therapeutics is one of the purest listed plays on base editing. Its pipeline spans ex vivo and in vivo programs: risto-cel (BEAM-101) for sickle cell disease, BEAM-201 for aggressive T-cell malignancies, BEAM-301 for glycogen storage disease type Ia (GSD1a) and BEAM-302 for severe alpha-1 antitrypsin deficiency, plus an engineered stem-cell antibody-paired evasion (ESCAPE) platform aimed at non-genotoxic conditioning.

MREO Mereo BioPharma

Mereo BioPharma is now a concentrated bet on setrusumab (UX143), an anti-sclerostin monoclonal antibody partnered with Ultragenyx for osteogenesis imperfecta (OI), plus a back-up program in respiratory alpha-1 antitrypsin deficiency (alvelestat) and an earlier-stage bone asset (vantictumab) licensed to āshibio for autosomal dominant osteopetrosis type 2, where Mereo retains European commercial rights.

ABVX Abivax  

Abivax SA is a French biotech now focused almost entirely on chronic inflammatory diseases, with obefazimod as its lead – and effectively only late-stage – asset. Originally developed for HIV, obefazimod was repositioned in ulcerative colitis after mid-stage virology data underwhelmed but immune-modulation readouts looked promising. Over time, the company abandoned its older infectious disease and oncology projects and concentrated resources on inflammatory bowel disease.

CYTK Cytokinetics

Cytokinetics enters 2026 in a very different position from just a year ago. After years as a development-stage muscle biology company – including the high-profile failure of omecamtiv mecarbil in chronic heart failure – the company now has its first approved product: MYQORZO (aficamten) for symptomatic obstructive HCM.

CRSP Crispr Therapeutics

CRSP

CRISPR Therapeutics enters 2026 as a hybrid story: part royalty-like partner on a first-in-class commercial gene therapy (Casgevy for SCD/TDT), part high-risk platform company pushing CRISPR into autoimmune disease, oncology, cardiovascular disease and regenerative medicine.

ALT Altimmune Inc 22 Dec Update

ALTd

On December 18, 2025, Altimmune announced 48-week data from the IMPACT Phase 2b trial of pemvidutide for MASH (metabolic dysfunction-associated steatohepatitis). While the company highlighted “key measures of success” including improvements in non-invasive fibrosis markers (ELF, LSM, cT1), sustained weight loss, and favorable safety, the stock fell by more than 20% in the following sessions.

CGTX Cognition Therapeutics

Cognition Therapeutics, Inc. is a clinical-stage biopharmaceutical company (no products on the market yet) headquartered in Purchase, New York (USA). The company develops orally available therapies for age-related neurodegenerative disorders, primarily Alzheimer’s disease and Dementia with Lewy bodies (DLB).

RVPH Reviva Pharmaceuticals Holdings Inc Dec 22

RVPH

Reviva Pharmaceuticals is a small late-stage clinical company built almost entirely around one asset: brilaroxazine (RP5063), a serotonin-dopamine modulator for schizophrenia and other CNS / inflammatory indications. The company has successfully completed one large global Phase 3 trial (RECOVER-1) and a 1-year open-label extension and is now preparing for a pre-NDA meeting with the FDA in Q4 2025, targeting a full NDA submission in Q2 2026 for schizophrenia.