Company Performance - AZZ Inc reported adjusted earnings of $1.52 per share, exceeding market estimates of $1.47 per share [1] - The company's sales reached $425.746 million, surpassing expectations of $418.164 million [1] - AZZ shares increased by 2.1% to $112.09 in pre-market trading following the earnings report [1] Notable Stock Movements - CIMG Inc gained 33.3% to $1.44 after securing approximately $124 million in commercial contracts [4] - ECD Automotive Design Inc rose 26.4% to $0.59 due to talks for strategic deals valued between $2 million and $10 million [4] - Acrivon Therapeutics Inc increased by 22.1% to $3.60, announcing a clinical update on its ongoing studies [4] - Nuvve Holding Corp gained 17.1% to $4.11 after a previous 60% rise [4] - RenovoRx Inc surged 16.8% to $1.18 in pre-market trading [4] - Serina Therapeutics Inc rose 16.4% to $2.82 after a 15% increase on Wednesday [4] - Super League Enterprise Inc increased by 11.2% to $0.68 following an asset purchase agreement [4] - Northrop Grumman Corp gained 6.8% to $616.26, influenced by a potential increase in the military budget [4] Declining Stocks - Immuneering Corp fell 20.7% to $6.61 after announcing updated trial data [4] - Erasca Inc decreased by 14% to $4.45 after a previous 42% rise [4] - Phathom Pharmaceuticals Inc dropped 13.7% to $15.60 following a $130 million public offering announcement [4] - United Microelectronics Corp fell 6.3% to $8.37 after a previous 10% increase [4]

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Core Insights - Cyclerion Therapeutics is pioneering a new therapeutic category in neuropsychiatry, focusing on treatment-resistant depression through precision anesthesia and advanced EEG-guided technology [3] Company Overview - Regina Graul serves as the CEO, President, and Director of Cyclerion Therapeutics, leading the company in its innovative approaches to mental health [1] - Dr. Husseini Manji, a prominent figure in neuroscience and mental health, is an adviser to Cyclerion and has significantly influenced the strategy for the company's lead program, CYC-126 [2] Industry Context - There is a substantial unmet need in the treatment of resistant depression, which Cyclerion aims to address with its novel therapeutic approaches [3]

Market Overview - U.S. stocks showed mixed performance with the Nasdaq Composite gaining over 50 points, while the Dow decreased by 0.03% to 48,962.01 and the S&P 500 rose by 0.14% to 6,911.52 [1] - Energy shares increased by 2.9%, while utilities stocks fell by 2.2% [1] Company Earnings - AngioDynamics, Inc. reported better-than-expected second-quarter results with an adjusted EPS of $0.00, surpassing market estimates of a loss of $0.10 per share. Sales reached $79.433 million, exceeding expectations of $76.300 million [2] Commodity Prices - Oil prices rose by 0.5% to $58.58, gold increased by 0.6% to $4,477.40, silver gained 2.4% to $78.505, and copper rose by 1.4% to $6.0565 [5] European Market Performance - European shares were mostly higher, with the eurozone's STOXX 600 gaining 0.3%, Spain's IBEX 35 Index rising 0.5%, London's FTSE 100 increasing by 1%, Germany's DAX gaining 0.4%, and France's CAC 40 slipping by 0.3% [6] Asian Market Performance - Asian markets closed mostly higher, with Japan's Nikkei 225 up 1.32%, Hong Kong's Hang Seng Index up 1.38%, China's Shanghai Composite surging 1.50%, while India's BSE Sensex fell by 0.44% [7] Notable Stock Movements - Alumis Inc. shares surged 148% to $20.54 following positive Phase 3 trial results for envudeucitinib in psoriasis [8] - Envirotech Vehicles, Inc. shares rose 73% to $0.6699 after announcing a merger transaction [8] - Cyclerion Therapeutics Inc. shares increased by 54% to $2.13 due to an expanded collaboration with Medsteer [8] - Instil Bio Inc. shares dropped 53% to $5.78 after discontinuing clinical development of AXN-2510 [8] - MOBIX LABS, INC. shares fell 45% to $0.18 following a $6.0 million stock offering [8] - BitVentures Ltd – ADR shares decreased by 23% to $11.40 [8] Economic Indicator - The Logistics Manager's Index declined for the second consecutive month to 54.2 in December, down from 55.7 in the previous two months [9]

Core Insights - Cyclerion Therapeutics Inc announced an expansion of its strategic collaboration with Medsteer to advance its closed-loop anesthetic platform CYC-126, resulting in a 44.2% increase in its share price to $1.99 in pre-market trading [1] Gainers - Kandal M Venture Ltd saw a 40.9% increase to $0.47 in pre-market trading after an 8% rise on Monday [4] - Aeva Technologies Inc rose 24.2% to $16.26 after its LiDAR technology was selected for NVIDIA's autonomous vehicle platform [4] - KALA BIO Inc gained 18.3% to $0.73 after settling approximately $10.6 million of debt [4] - Arbe Robotics Ltd increased by 17% to $1.52 following an 8% rise on Monday [4] - Alumis Inc rose 16.4% to $9.67, with topline data from its Phase 3 clinical program expected to be reported [4] - OneStream Inc surged 14.4% to $21.03 amid reports of a buyout deal [4] - Oriental Culture Holding Ltd increased by 14.1% to $0.043 after a significant share consolidation [4] - Big Tree Cloud Holdings Ltd rose 12.7% to $0.36 after receiving notifications from Nasdaq [4] - Zeta Global Holdings Corp gained 11.3% to $24.12 following a collaboration with OpenAI [4] Losers - MOBIX LABS, INC. fell 23.8% to $0.25 after announcing a public offering of common stock [4] - Fitell Corp decreased by 17.9% to $0.41 due to a share consolidation [4] - Datavault AI Inc dropped 12.4% to $1.26 after a significant rise on Monday [4] - BitVentures Ltd declined 9.7% to $13.33 after a previous gain [4] - SOLAI Ltd dipped 8.5% to $0.77 following a substantial increase on Monday [4] - Parazero Technologies Ltd fell 8% to $1.15 after a minor gain [4] - RedHill Biopharma Ltd shares decreased by 7.9% to $1.29 after a notable rise [4] - Zenas Biopharma Inc tumbled 6.6% to $15.50 after a significant drop following trial results [4] - Theravance Biopharma Inc dipped 6% to $17.07 after a decline on Friday [4] - Starfighters Space Inc fell 3.3% to $9.08 after a previous dip [5]

Core Insights - Cyclerion Therapeutics has entered into a strategic collaboration with Medsteer to enhance the development of its closed-loop anesthetic platform, specifically for its lead program CYC-126, aimed at treating treatment-resistant depression (TRD) [1][3][9] - The collaboration will integrate Medsteer's proprietary technology into Cyclerion's CYC-126 program, which utilizes real-time patient feedback and EEG monitoring for precision dosing [2][11] - Cyclerion plans to initiate a Phase 2 proof-of-concept study for CYC-126 in the second half of 2026, with initial clinical data expected in 2027 [5][12] Company Overview - Cyclerion Therapeutics focuses on developing therapeutics for neuropsychiatric diseases, with CYC-126 as its foundational product candidate targeting TRD [9] - The company has shifted its strategic focus towards neuropsychiatry, having divested other product candidates to concentrate resources on its neuropsychiatric pipeline [10] Collaboration Details - The partnership with Medsteer is expected to accelerate the development of Cyclerion's drug delivery system, leveraging Medsteer's expertise in closed-loop anesthetic delivery systems validated in over 25 clinical settings and more than 9,000 patients [11][12] - Medsteer's technology will enhance the individualized treatment approach of CYC-126, addressing significant unmet needs in the mental health space [3][11] Development and Regulatory Path - Cyclerion is on track to complete device integration and finalize its proprietary drug delivery system ahead of the Phase 2 study initiation [12] - The company plans to enroll the first patient in Australia under an expedited regulatory pathway in 2026, while preparing for a potential U.S. IND submission [12]

Product Development and Research - Cyclerion has prioritized an individualized therapy for treatment-resistant depression (TRD) as its foundational product candidate, entering into a license agreement with MIT for related intellectual property in September 2025[93]. - The PRIZM study for zagociguat, which began dosing patients in January 2025, is evaluating its efficacy in treating MELAS and has received Fast Track designation from the FDA[104]. - The company is exploring potential license opportunities for olinciguat after terminating an Option Agreement due to failure to agree on terms[101]. - Cyclerion has developed a financing strategy plan and filed a Shelf Registration with the SEC in February 2025 to raise funds for TRD product plans[94]. Financial Performance - Total revenues for the three months ended September 30, 2025, were $875,000, a 351% increase compared to $194,000 for the same period in 2024[118]. - Revenue from purchase agreement was $800,000 for both the three and nine months ended September 30, 2025, representing a 100% increase[119]. - Net loss for the nine months ended September 30, 2025, was $2.7 million, a 24% improvement from a net loss of $3.6 million for the same period in 2024[142]. Expenses and Cash Flow - Research and development expenses for the three months ended September 30, 2025, totaled $348,000, a significant increase from $81,000 in the same period in 2024[108]. - General and administrative expenses rose by $292,000 (24%) for the three months ended September 30, 2025, compared to the same period in 2024[123]. - Net cash used in operating activities was $1.7 million for the nine months ended September 30, 2025, primarily due to a net loss from operations of $2.7 million[146]. - Net cash used in operating activities decreased by $2.96 million (63%) for the nine months ended September 30, 2025, compared to the same period in 2024[145]. Funding and Financial Strategy - The company closed a private placement of 499,998 shares for total gross proceeds of approximately $1.375 million on March 21, 2025[128]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $3.1 million, including $1.2 million from an equity private placement and $1.8 million from an ATM issuance[148]. - Cash and cash equivalents as of September 30, 2025, were approximately $4.6 million[140]. - Cash and cash equivalents as of September 30, 2025, are expected to fund operations into the second quarter of 2026, but additional funding will be needed to sustain operations[149]. - The company anticipates needing additional funding to sustain operations beyond the second quarter of 2026 due to expected ongoing operating losses[143]. Corporate Governance and Structure - Cyclerion's infrastructure is being strengthened with the promotion of Regina Graul to CEO and the hiring of Rhonda Chicko as CFO, while relying on consultants to limit operating expenses[95]. - The company is currently evaluating collaborations, licenses, mergers, acquisitions, and other targeted investments to enhance shareholder value[106]. - The MIT License Agreement includes potential milestone payments of up to $4.4 million and tiered royalties based on future net sales of licensed products[102]. Risk and Compliance - The company has no uncertain tax positions as of September 30, 2025[154]. - The company does not have off-balance sheet arrangements that expose it to financing, liquidity, market, or credit risk[156]. - The company is a smaller reporting company and is not required to provide certain market risk disclosures[159].

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential opportunities for traders [1] Premarket Gainers - PepGen Inc. (PEPG) is up 151% at $6.68 [3] - 22nd Century Group, Inc. (XXII) is up 27% at $1.93 [3] - Immuneering Corporation (IMRX) is up 23% at $11.36 [3] - uniQure N.V. (QURE) is up 10% at $52.58 [3] - Lithium Americas Corp. (LAC) is up 9% at $6.60 [3] - Jasper Therapeutics, Inc. (JSPR) is up 9% at $2.55 [3] - American Shared Hospital Services (AMS) is up 8% at $2.75 [3] - PSQ Holdings, Inc. (PSQH) is up 7% at $3.06 [3] - K Wave Media Ltd. (KWM) is up 7% at $2.48 [3] - ClearPoint Neuro, Inc. (CLPT) is up 5% at $20.48 [3] Premarket Losers - Transocean Ltd. (RIG) is down 14% at $3.11 [4] - Cyclerion Therapeutics, Inc. (CYCN) is down 12% at $2.83 [4] - CarMax, Inc. (KMX) is down 11% at $50.38 [4] - ARB IOT Group Limited (ARBB) is down 11% at $10.45 [4] - SHF Holdings, Inc. (SHFS) is down 10% at $6.49 [4] - Digital Brands Group, Inc. (DBGI) is down 10% at $6.21 [4] - Aqua Metals, Inc. (AQMS) is down 9% at $5.29 [4] - Akanda Corp. (AKAN) is down 8% at $3.96 [4] - Galecto, Inc. (GLTO) is down 8% at $3.88 [4] - Platinum Analytics Cayman Limited (PLTS) is down 7% at $11.12 [4]

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Core Perspective - Cyclerion has announced a transformational relaunch as a neuropsychiatric company, supported by a licensing agreement with MIT that secures foundational intellectual property [1]. Group 1: Company Strategy - The company aims to build a new era in neuropsychiatric therapies, highlighting the opportunities ahead and outlining its clinical and corporate roadmap [1]. Group 2: Forward-Looking Statements - The presentation includes forward-looking statements regarding the company's ability to develop product candidates, the timing of related milestones, and the expected addressable market size [2][3]. - There is an emphasis on the uncertainty of future events or outcomes, indicating that actual results may differ materially from projections [2][3].