Stock markets prepared to continue their downward trend on Wednesday, as early morning moves in futures markets indicated further declines after two losing sessions on Monday and Tuesday. The Nasdaq Composite (^IXIC 1.10%) looked poised to suffer the most significant declines, with futures contracts falling more than 1% in premarket trading.

However, the malaise for the broader market didn't stop a couple of prominent Nasdaq-listed stocks from having great days. MongoDB (MDB -1.53%) rose sharply after the software-as-a-service (SaaS) company reported solid financial results late Tuesday, but the biggest pop came for Prometheus Biosciences (RXDX). You can read all about the details below.

MongoDB posts mondo growth

Shares of MongoDB soared 26% in premarket trading on Wednesday morning. The cloud database services provider's latest financial results for the quarter ending Oct. 31 showed that it could continue to see solid growth even in a tough macroeconomic environment.

MongoDB's numbers were outstanding. Revenue for the fiscal third quarter rose 47% year over year to $334 million, with subscription-based sales representing the lion's share of the money that the company brought in. Revenue from MongoDB's Atlas cloud platform jumped 61% for the period. Adjusted net income rose sevenfold from year-ago levels to $18.7 million, working out to adjusted earnings of $0.23 per share.

MongoDB brought on 2,100 new customers over the past three months, with total client counts of 39,100 rising by more than 8,100 from 12 months ago. The database provider also saw good performance from its large customers. The company boasted 29% more clients spending at least $100,000 annually on the platform, bringing the total to 1,545. Net annualized recurring revenue expansion rates remained above 120%, extending a string of past strong performances.

Investors also seemed pleased with MongoDB's forward guidance, which included fourth-quarter projections for between $334 million and $337 million in sales and adjusted net income of $0.06 to $0.08 per share. Given that many investors have feared that the software company would return to quarterly losses even on an adjusted basis, the big jump in the stock seems warranted, particularly after its steep drop over the past year.

Prometheus stock gets fired up

Shares of Prometheus Biosciences were the true winners of the day, though, skyrocketing more than 180%. The clinical-stage biotechnology company reported extremely encouraging results from studies that should help it push a key candidate treatment forward in the coming year.

Prometheus released results from its Artemis-UC phase 2 and Apollo-CD phase 2a studies of its PRA023 treatment for ulcerative colitis and Crohn's disease. In the Artemis trial, which involved 68 ulcerative colitis patients, PRA023 met its primary endpoint in showing a substantial boost in clinical remission rates. It also demonstrated significant improvement in endoscopy-based scores for patients along with several other secondary endpoints, and the treatment met the safety profile terms reasonably well.

Meanwhile, the Apollo-CD trial had 55 Crohn's disease patients who had failed through conventional or biologic therapy, and PRA023 showed statistically significant improvements in achieved endoscopic response and in reaching clinical remission.

In response, Prometheus will move forward to phase 3 trials in 2023 after talking with regulators at the U.S. Food and Drug Administration (FDA). With the company competing against Pfizer and others in the space, the news for Prometheus was a massive step forward and gave investors hope for an eventual FDA approval in the years to come.