Are These Biotech Penny Stocks Worth Watching Tomorrow?
Finding the best biotech penny stocks to buy can be easy if investors take a few small steps. First, traders need to understand where the most value is with penny stocks in the biotech industry. Right now, this includes Covid, respiratory-related illnesses, cancer, and medical tech products. When it comes to biotech penny stocks, we can break the industry down into two categories.
Finding Biotech Penny Stocks to Buy
On one hand, we have companies that are producing or commercializing drugs and compounds. These are the most common companies you’ll stumble upon when searching for penny stocks to buy in the biotech industry. While they can be volatile, these companies also present a great deal of opportunity.
On the other hand, we have biotech companies that are producing physical products. This includes medical devices, diagnostic tools, and much more. And in addition to these two categories, there are companies that work in both sectors. One of the key factors that adds value to any biotech company is the amount of funding and cash on hand it has.
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While capital is important in any sector, with biotech, it is the main fuel for growth. Because biotech companies will show little to no revenue until a product is approved or commercialized, it will use its cash on hand to sustain business. And for this reason, many biotech companies will engage in sizable fundraising opportunities as a way to stay ahead. So, while this is not a complete list of everything to look for in a prospective biotech stock, it should help to get you on the right track. With that in mind, here are three for your watchlist right now.
3 Biotech Penny Stocks to Watch Right Now
- Evofem Biosciences Inc. (NASDAQ: EVFM)
- Atossa Therapeutics Inc. (NASDAQ: ATOS)
- Infinity Pharmaceuticals Inc. (NASDAQ: INFI)
Evofem Biosciences Inc. (NASDAQ: EVFM)
An interesting biotech penny stock to consider adding to your August watchlist is Evofem Biosciences. This innovative company focuses on the research and development of women’s health products. Specifically, EVFM aims to address the unmet needs of feminine health in areas such as sexual and reproductive care. This includes hormone-free contraception as well as STI protection and prevention products.
One of its flagship products is Phexxi, an FDA-approved medication that has benefitted the company substantially since it was approved. In addition to this, it is currently working on EVO100. EVO 100 is a new product candidate and is used as a preventative measure for urogenital Chlamydia trachomatis and Neisseria gonorrhea. As of right now, it is in its Phase 3 trial, which means it could be close to gaining approval.
Right now, shares of EVFM stock sit at around $0.80. This is down from its 12 month high of almost $5. It’s difficult to say what the fair value of EVFM is, however, having an FDA-approved compound in circulation is a big deal. While its price movement is nothing to write home about, EVFM does look like an interesting company to keep an eye on. Considering all of this, should you add EVFM to your August biotech penny stock watchlist?
Atossa Therapeutics Inc. (NASDAQ: ATOS)
Atossa Therapeutics is another biotech penny stock to watch with over 120% in gains since mid-April. For some context, Atossa is a clinical-stage biopharmaceutical company that is researching and developing medication for oncological and infectious disease indications. As of right now, ATOS’s efforts are being allocated towards breast cancer as well as COVID-19 therapeutics. These key issues are at the top of the interest list for many companies and therefore have brought a lot of attention to ATOS stock.
Its Covid-19 treatment known as AT-H201 is an inhalable therapeutic for moderate-to-severe hospitalized Covid patients. Only a few weeks ago, the company announced that Australia’s Human Research Ethics Committee granted it permission to begin clinically studying AT-H201. This was big news, and will continue to play out in the coming months.
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Another leading product for Atossa is its oral Endoxifen which is currently in Phase 2 trials. This drug is meant to target mammographic breast density (MBD) in order to identify and target breast tumors. Density in mammary tissue is a common way to detect tumor size as well what stage a patient may be at in their cancer development.
And for this reason, Endoxifen is showing potential as a promising treatment for breast cancer. Because Atossa has so much in the works right now, the company remains at the top of the list for many biotech stock investors. And, with its consistent growth over the past few months, investors are showing bullish sentiment toward ATOS stock. Considering this, will it be on your penny stock watchlist for in August?
Infinity Pharmaceuticals Inc. (NASDAQ: INFI)
Another biotech penny stock making big waves right now is Infinity Pharmaceuticals. On August 5th, shares of INFI stock shot up by a solid 10%, ending the day at just under $3 per share. This penny stock specializes in oral, Immuno-oncology therapeutics and specifically operates in macrophage reprogramming. This directly deals with cancer therapy that is in use to suppress damaging immune function.
Recently, INFI has been working on MARIO-3, a combination study meant to evaluate the effectiveness of combination therapy of Tecentriq and Abraxane. The goal with this testing is to potentially treat renal cell carcinoma in a group of advanced-stage cancer patients.
In the past five days, shares of INFI stock have shot up by over 30% and in the past twelve months, by over 200%. This is a sizable uptick and while big gains in the biotech industry can occur, they are by no means an everyday thing. Considering all of this, what do you think of Infinity Pharmaceuticals as a penny stock for your watchlist for August?
Which Biotech Penny Stocks Are You Watching in August?
So far in August, the biotech sector has already been heating up. This is marked by higher than average volume and many companies showing potential for the future. With Covid cases continuing to rise right now, many investors are searching for biotech penny stocks that could benefit.
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And with so many to choose from, it all comes down to knowing what to look for. With all of this in mind, which biotech penny stocks are you watching in August?
