FSO NEWS: Premarket Gappers Nov. 10: PEPG, SMX and MI Jump Before the Bell

Key takeaways

In premarket data as of about 8:05 AM ET Tuesday, Nov. 10, 2026, PepGen (PEPG) was up 115.90%, SMX (Security Matters) up 64.83% and NFT Limited (MI) up 57.25%.
PEPG jumped on positive Phase 2 data in myotonic dystrophy type 1. MIND C.T.I. (MNDO) rose on an all-cash US$1.30-per-share offer from Enghouse Systems, and Securitize (SECZ) on third-quarter results plus an acquisition and a buyback.
Kaltura (KLTR), Senseonics (SENS), Palladyne AI (PDYN) and Quantum (QMCO) reported results, and Xcel Brands (XELB) began a strategic review of legacy assets. No clear catalyst was reported for SMX, MI or C3is (CISS). RKLZ is a leveraged fund tied to Rocket Lab, and it is scheduled to close.
Many of the names are thinly traded or recently reverse-split. Premarket moves can fade quickly once regular trading begins at 9:30 AM ET.

Tuesday's premarket gappers include a biotech data readout, a takeover bid, a run of earnings reactions and several low-priced stocks with no reported news. Futures are little changed ahead of the October Consumer Price Index report. The figures below are premarket % changes against Monday's close, on premarket volume that is far thinner than regular-session trading. They come from premarket data as of about 8:05 AM ET Tuesday and can change sharply before the 9:30 AM ET open.

Today's premarket gappers

Ticker	Name	% change	Volume	Catalyst
PEPG	PepGen (Nasdaq)	+115.90%	16.3M	Announced positive topline results from the 10 mg/kg cohort of its Phase 2 FREEDOM2-DM1 trial of PGN-EDODM1 in myotonic dystrophy type 1: mean muscle splicing correction of 46.5% at Week 13, and a 52.7% improvement in video Hand Opening Time at Week 16. The drug was generally well tolerated, with no serious or severe adverse events reported. PepGen also reported third-quarter results with $104.8 million in cash, which it says funds operations into 2028, and noted an FDA partial clinical hold from March remains in place.
SMX	SMX (Security Matters) (Nasdaq)	+64.83%	9.1M	No clear catalyst was reported. Context, not a clear explanation: a 2.8-for-1 reverse stock split took effect Nov. 9, and StockAnalysis shows the stock fell about 32% on that first split-adjusted session.
MI	NFT Limited (NYSE American)	+57.25%	170.3M	No clear catalyst was reported. Context, not a clear explanation: the company has priced several discounted offerings since early October, including a Regulation S agreement for 80 million shares at $0.45, and StockAnalysis showed the stock down about 19.6% on Monday.
MNDO	MIND C.T.I. (Nasdaq)	+45.98%	7.2M	Enghouse Systems agreed to acquire MIND CTI for US$1.30 per share in cash, about US$25.4 million in total equity value and a premium of about 42% to the 30-day volume-weighted average price. The deal needs shareholder approval and is expected to close in the first quarter of 2027; MIND CTI may solicit alternative proposals until Dec. 10, 2026.
SECZ	Securitize Corp. (NYSE)	+21.95%	0.5M	Reported third-quarter results after Monday's close: revenue of $11.5 million (up 28%), tokenized assets on the platform of $4.8 billion, and an adjusted EBITDA loss of $2 million. The board also authorized a $50 million share buyback, and the company announced the acquisition of asset-backed finance platform River One, terms undisclosed. CNBC reported the shares up about 10% in postmarket trading.
CISS	C3is Inc. (Nasdaq)	+19.41%	7.2M	No clear catalyst was reported. Context, not a clear explanation: a 1-for-5 reverse stock split took effect for trading on Nov. 9, which the company said was aimed at meeting Nasdaq's minimum bid-price requirement.
XELB	Xcel Brands (Nasdaq)	+17.63%	0.0M (thin)	The board began exploring strategic alternatives for non-core legacy assets, including a possible sale of select legacy consumer brands and related intellectual property, to strengthen the balance sheet. No timetable was set and there is no assurance a transaction will result.
KLTR	Kaltura (Nasdaq)	+17.48%	0.1M	Reported third-quarter results Monday: revenue of $47.3 million (up 8%), adjusted EBITDA of $6.0 million (up 45%) and a GAAP net loss of $1.5 million. Full-year 2026 revenue guidance was raised to $185.0 million to $185.7 million, the third increase this year.
RKLZ	Defiance Daily Target 2X Short RKLB ETF (Nasdaq)	+16.27%	0.0M (thin)	Leveraged ETF; the move follows the underlying. Rocket Lab (RKLB) was down about 5.7% in premarket trading after a wider-than-expected third-quarter loss and a Neutron launch delay to 2027. See the leveraged fund section below, including the fund's scheduled closure.
SENS	Senseonics Holdings (Nasdaq)	+16.22%	0.1M	Reported third-quarter results Monday: revenue of $19.6 million, up about 140%, gross margin of about 62%, and full-year 2026 revenue guidance raised to $68 million to $70 million from $62 million to $66 million. The net loss was $32.7 million.
PDYN	Palladyne AI (Nasdaq)	+16.10%	0.3M	Reported third-quarter results Tuesday morning: revenue of $8.6 million, up 895% from a year earlier, and a GAAP net loss of $12.0 million. The low end of 2026 revenue guidance was raised to $25 million, with the $27 million top end reiterated.
QMCO	Quantum Corporation (Nasdaq)	+15.95%	0.1M	Reported fiscal second-quarter 2027 results Monday after the close: revenue of $89.6 million, up 42.9%, non-GAAP adjusted net income of $0.25 per share and a record backlog of nearly $100 million. GAAP net loss was $44.8 million, including a $51.6 million non-cash warrant charge. Third-quarter revenue guidance is $91.0 million, plus or minus $2 million.

Percent change and volume are premarket data as of about 8:05 AM ET Tuesday, Nov. 10, 2026, measured against Monday's close. Volume is shares traded so far in the premarket session; "0.0M" means fewer than about 50,000 shares, so those moves rest on very thin trading. Figures change quickly before the open.

What moved the stocks

PepGen (PEPG) led the list. The Nasdaq-listed biotech announced positive topline results from the 10 mg/kg cohort of its Phase 2 FREEDOM2-DM1 trial of PGN-EDODM1 in myotonic dystrophy type 1. Mean muscle splicing correction reached 46.5% at Week 13, with five of six treated participants above 20% and four above 50%, and video Hand Opening Time, a measure of myotonia, improved 52.7% at Week 16, according to the Business Wire release. The company said the drug was generally well tolerated. In its third-quarter report, PepGen listed $104.8 million in cash as of Sept. 30, said to be enough to fund operations into 2028, and noted that the FDA partial clinical hold announced in March is still in place. The study cohort was small, with six treated participants.

SMX (Security Matters) and NFT Limited (MI) were second and third, and no clear catalyst was reported for either. SMX completed a 2.8-for-1 reverse split on Nov. 9 (Nasdaq), and StockAnalysis shows it fell about 32% on that first split-adjusted session, so Tuesday's gain follows a sharp drop. MI, listed on NYSE American, trades below $1 after a series of discounted offerings, including an agreement to sell 80 million shares at $0.45 (Form 6-K), and fell about 19.6% on Monday (StockAnalysis). Those are background facts, not an explanation of Tuesday's jump. MI's 170.3M of premarket volume was the highest on the list.

MIND C.T.I. (MNDO) rose after Enghouse Systems agreed to acquire it for US$1.30 per share in cash, about US$25.4 million in total, a premium of roughly 42% to the 30-day volume-weighted average price. Shareholder approval is required, the deal is expected to close in the first quarter of 2027, and MIND CTI may solicit alternative proposals until Dec. 10, 2026, per the PR Newswire release. StockAnalysis showed MNDO at $0.87 at Monday's close.

Securitize (SECZ), a tokenization platform listed on the NYSE, reported third-quarter revenue of $11.5 million, up 28%, with tokenized assets of $4.8 billion and an adjusted EBITDA loss of $2 million. It also announced a $50 million share buyback authorization and the acquisition of River One, an asset-backed finance platform, with terms not disclosed (CNBC, Nov. 9).

Earnings and company news. Kaltura (KLTR) raised full-year revenue guidance for the third time this year after record quarterly revenue of $47.3 million. Senseonics (SENS) reported revenue up about 140% to $19.6 million and raised 2026 revenue guidance to $68 million to $70 million, while its net loss was $32.7 million. Palladyne AI (PDYN) reported third-quarter revenue of $8.6 million, up 895%, a GAAP net loss of $12.0 million and a raised low end of full-year revenue guidance to $25 million. Quantum (QMCO) reported fiscal second-quarter revenue up 42.9% to $89.6 million and a record backlog of nearly $100 million, though its GAAP net loss was $44.8 million on a $51.6 million non-cash warrant charge. Xcel Brands (XELB) said its board started a process to explore strategic alternatives for non-core legacy assets, with no timetable and no assurance of a transaction.

C3is (CISS), a Greece-based ship owner, had no clear catalyst reported. Its 1-for-5 reverse split began trading on Nov. 9, with the stated aim of meeting Nasdaq's minimum bid-price requirement (GlobeNewswire); that is context, not a clear explanation for the move.

The leveraged fund on the list

RKLZ is the Defiance Daily Target 2X Short RKLB ETF, which seeks twice the inverse of the daily move of Rocket Lab. It is not a company. Rocket Lab (RKLB) was down about 5.7% in premarket trading after a wider-than-expected third-quarter loss and a delay of the first Neutron launch to 2027 (Investing.com, 5:43 AM ET Tuesday), which is the direction that benefits a short fund. RKLZ showed 0.0M in premarket volume, meaning fewer than about 50,000 shares. Defiance also announced that RKLZ will close: its final trading day is Nov. 16, 2026, and shares still held on the Nov. 20 liquidation date will be redeemed for cash at net asset value (GlobeNewswire, Nov. 4).

Because leveraged products reset daily, holding them for more than a day can produce returns very different from the stated multiple of the underlying. The SEC's investor bulletin on leveraged and inverse ETFs explains why.

Market context

US stock futures were little changed Tuesday morning ahead of the Consumer Price Index report. As of a Yahoo Finance update at 7:40 AM ET, Dow futures were up 0.3%, S&P 500 futures edged higher and Nasdaq-100 futures were down 0.3%. Economists forecast headline inflation of 0.3% from a month earlier and core inflation of 0.2%. Brent and WTI crude were each down more than 2%, and Nvidia rebounded slightly after falling more than 4% on Monday amid a board investigation into its CEO. CoreWeave (CRWV) and the quantum-computing stocks QBTS and RGTI report after the close.

Risk note

Premarket gappers are dominated by small caps and low-float stocks, and those can reverse just as quickly as they rise. Premarket volume is thin, spreads can be wide, and a gap up before the bell can fade at the open. Several of today's names are low-priced or recently reverse-split shares, and the moves in XELB and RKLZ rest on 0.0M of premarket volume. Deal-driven moves such as MNDO depend on shareholder votes and closings that may not happen, and an early-stage biotech result such as PEPG's comes from a small number of participants. Leveraged products can lose value quickly, and RKLZ is scheduled to be liquidated. Moves this large can bring trading halts and sudden drops; FINRA explains how trading halts work. A big percentage gain is not a sign of company quality. This article is not investment advice.

Sources

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Premarket Gappers Nov. 10: PEPG, SMX and MI Jump Before the Bell