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A new wave of innovation is reshaping small-cap markets across sectors including oncology, functional energy beverages, neuromodulation, crypto treasuries, advanced connectivity, and AI fitness. The following publicly traded companies—each under $5 per share—are generating increased investor attention with transformative developments.

Kazia Therapeutics (NASDAQ: KZIA): Preclinical Breakthrough in Breast Cancer Immunotherapy Kazia Therapeutics announced transformative preclinical data published in Molecular Cancer Therapeutics showing that its lead drug, paxalisib, may overcome resistance to immunotherapy in triple-negative breast cancer (TNBC)—one of the deadliest and most treatment-resistant cancer types. The study highlights paxalisib’s potential to reshape cancer treatment landscapes and elevate Kazia’s profile in the oncology pipeline space. 

Synergy CHC Corp. (NASDAQ: SNYR): Coca-Cola Exec Joins to Scale Focusfactor Energy Drink. Synergy CHC Corp. continues its aggressive expansion into the $100B+ global functional beverage market, appointing Scott Woodburn, a former Coca-Cola VP, as President of Beverage. This leadership move aligns with the Company’s high-growth strategy behind Focusfactor Energy Drink, now sold in Costco (NASDAQ: COST)Walmart (NYSE: WMT), and Amazon (NASDAQ: AMZN). Roth Capital recently reiterated a Buy rating and $10 price target(read more), as Synergy prepares for national TV exposure on Bloomberg TV (June 14, 2025) and FOX Business. The company also markets brands such as Flat Tummy®, Sneaky Vaunt®, and Hand MD®, with distribution across North America, the UK, and Canada. 

Helius Medical (NASDAQ: HSDT): Aetna Joins Reimbursement Network for PoNS Device Neurotech innovator Helius Medical received a reimbursement claim approval from Aetna, joining Anthem and UnitedHealthcare in supporting its PoNS® Device. The device, used for treating gait and balance disorders, is now covered at an out-of-network negotiated price of $18,350, signaling growing insurance momentum in the neuromodulation space. 

Interactive Strength (NASDAQ: TRNR): $500M Crypto + AI Fitness Strategy Launches TRNR, maker of CLMBR and FORME smart fitness systems, entered into a $500 million facility to acquire $FET tokens, launching the largest public crypto treasury focused on AI. Backed by ATW Partners and DWF Labs, TRNR is also collaborating with Fetch.ai to integrate AI into fitness tech. This move sets TRNR apart as a hybrid AI, crypto, and fitness tech innovator

Peraso Inc. (NASDAQ: PRSO): Federal Legislation Boosts mmWave and Broadband Momentum Peraso, a leader in mmWave and fixed wireless access (FWA) solutions, stands to benefit from both the $42.45B BEAD Act and the $280B CHIPS Act. As broadband infrastructure expands and U.S. semiconductor manufacturing is prioritized, Peraso’s products are gaining traction across military defense, telecom, and connectivity markets—making it a critical player in the next wave of American tech leadership. 

INNEOVA Holdings (NASDAQ: INEO): Financial Results Highlight Resilience. INNEOVA Holdings, a Singapore-based OEM and aftermarket parts provider, reported $58.3 million in 2024 revenue, with gross profit margins holding steady at 18.7%. While net income declined due to higher admin costs, the company maintains pricing discipline and continues to serve Southeast Asia’s automotive and combustion engine markets. 

Power Metallic Mines (TSXV: PNPN | OTCQB: PNPNF) is rapidly emerging as a top sub-C$2 Canadian, $1 US  North American explorer, advancing multiple high-grade zones across a growing land package in Quebec. As the world’s first carbon-neutral polymetallic explorer, the company targets in-demand critical minerals—nickel, copper, gold, silver, PGEs, and battery metals—vital to the clean energy transition. With standout drill results and strong positioning in a developing district, Power Metallic presents a compelling play in the booming energy metals market.

FST Corp. (NASDAQ: KBSX): Golf Tech Company Swings with 27% Revenue Growth. FST Corp., a leader in steel and graphite golf shafts, reported $36.5 million in revenue for 2024, up 27% year-over-year. With increasing demand in golf and related services, the company remains on track to expand market share in both performance and recreational golf tech. 

Imunon Inc. (NASDAQ: IMNN): Immune System-Based Therapies in Development. Imunon Inc., a clinical-stage biotech firm, continues to advance its immunotherapy pipeline. The company leverages the body’s own mechanisms to develop durable, safe, and effective treatments targeting a range of human diseases, positioning itself in the broader immuno-oncology and personalized medicine markets.

From cutting-edge cancer therapeutics and crypto AI integrations to national retail expansions and federal broadband initiatives, these small-cap disruptors are showing breakout potential. Investors looking for emerging market opportunities in biotech, digital health, consumer goods, and infrastructure may want to keep a close eye on KZIA, SNYR, HSDT, INEO, KBSX, TRNR, IMNN, and PRSO as they continue building momentum in 2025.