The sub-$1 market is heating up with several high-profile moves in biotech, tech, and AI-driven media as investors chase high-volume breakouts and milestone-driven catalysts.

Equillium, Inc. (NASDAQ: EQ) – Financing to Fuel Pipeline Growthafter securing a $50 million financing package to advance EQ504, a novel aryl hydrocarbon receptor modulator targeting severe autoimmune and inflammatory disorders. The deal, led by ADAR1 Capital Management and Janus Henderson Investors, delivers $30 million upfront at $0.57 per share, with an additional $20 million tied to clinical trial initiation and share price milestones. Phase 1 trials are expected to start mid-2026, with data roughly six months later.

Peraso Inc. (NASDAQ: PRSO) – Q2 Financials After the Bellfollowing 100% year-over-year revenue growth in Q4 2024 and 71.6% gross margins. The company’s mmWave segment already surpassed 2024’s total in Q1 2025, underscored by a $3.6M order from a top-tier Fixed Wireless Access (FWA) provider, signaling momentum beyond inventory corrections.

Wang & Lee Group Inc. (NASDAQ: WLGS) – Construction Tech & Design Boom WLGS rocketed +39.1% to $0.0637 on 278.6M shares traded. The company provides contract engineering and outfitting services across low-voltage electrical systems, MVAC, fire safety, and water supply systems.

Entero Therapeutics Inc. (NASDAQ: ENTO) – Capital Raise for GI Disease Pipeline ENTO surged +101.5% to $0.7353 after announcing a $3M private placement priced at-the-market under Nasdaq rules. The funds will advance its targeted, non-systemic GI therapies.

GIBO Holdings Limited (NASDAQ: GIBO) – AI Monetization Platform Expands Reach GIBO rose +9.1% to $0.0407 on 132.9M shares traded following news of a successful GIBO Click trial with CoolShort, a fast-growing interactive short-drama platform serving North America, Japan, Korea, and Southeast Asia. The monetization logic supports flexible revenue streams including IAP, IAA, and subscriptions.

With fresh capital raises, high-profile contracts, and explosive trading volumes, these under-$1 names are proving that the penny stock space remains a hotbed for rapid percentage gains. Traders eyeing biotech milestones, tech adoption curves, and volume-driven breakouts will want to keep these tickers on watch.

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