NRx Pharmaceuticals (NRXPW) has had the highest return this month by a small-cap US stock, returning 169.2%.

ASSET	MONTH	% RETURN
NRx Pharmaceuticals (NRXPW)	January 2025	169.23%
Cerence (CRNC)	January 2025	142.23%
QuantumSi (QSI)	January 2025	55.43%
Quantum-Si (QSIAW)	January 2025	54.68%
Richtech Robotics Inc Class B Common Stock (RR)	January 2025	44.52%
Atomera (ATOM)	January 2025	41.57%
Gevo (GEVO)	January 2025	37.68%
Verastem (VSTM)	January 2025	36.45%
Serve Robotics Inc Common Stock (SERV)	January 2025	34.49%
Advent Technologies (ADNWW)	January 2025	27.91%
Sangamo Therapeutics (SGMO)	January 2025	27.45%
Nano X Imaging (NNOX)	January 2025	27.41%
Kaltura (KLTR)	January 2025	25.79%
iRobot (IRBT)	January 2025	25.76%
Butterfly Network (BFLY)	January 2025	25.31%
GH Research (GHRS)	January 2025	23.7%
immatics biotechnologies GmbH (IMTXW)	January 2025	23.26%
Bit Digital (BTBT)	January 2025	22.59%
Sunnova Energy International (NOVA)	January 2025	21.71%
Digimarc (DMRC)	January 2025	21.65%
Absci (ABSI)	January 2025	20.74%
ACELYRIN, INC Common Stock (SLRN)	January 2025	20.13%
Arteris (AIP)	January 2025	20.1%
Centrus Energy (LEU)	January 2025	19.67%
Ouster, Inc Common Stock (OUST)	January 2025	19.61%

Small-cap stocks are treated as having a market cap between $300M and $2B.