penny stocks new highs

The broader markets pulled back during the opening hours on Wednesday March 27, 2019. Right around 7AM EST, however, the S&P and Nasdaq reversed this trend briefly in an attempt to gain back some of the early losses.  With this, we’ve seen several penny stocks begin to gap up on industry catalysts and penny stock news.  Here are 3 of them that are gapping up before the opening bell:

Oragenics, Inc. (OGEN)

Oragenics develops antibiotics that target infectious diseases and works to create effecgtive treatments for oral mucositis. Over the better part of the last 2 weeks, this penny stock had been greeted by the “business end” of a bear trend.  In fact, on Tuesday March 26 this stock hit its lowest price since September of 2018.

So why does this penny stock need some attention today? This morning, Oragenics, Inc. (OGEN) announced that it had begun collaborating with FIU (Florida International University). The collab will see Oragenics and FIU create computational models of the company’s lantibiotic compounds and how they interact with bacterial membranes and “Lipid II>” It just so happens that this is the target of the company’s compounds with the end goal of growing the lantibiotic pipeline. This news triggered an early morning jump to $0.62 right around 8AM EST.

BioLineRx Ltd. (BLRX)

BioLineRX also saw its shares pop on Wednesday morning. Another biotech penny stock that released news to act as a momentum catalyst, BioLineRX (BLRX) announced key milestones.  The company reported results of its hematopoietic stem cells “mobilized by BL-8040 in combination with granulocyte colony-stimulating factors”[1] were successful.

Results of the first 11 patients in the study showed nearly all (9 out of 11) reached the primary endpoint with only one dose of BL-8040. Also, 64% of the patients reached the threshold in a single “apheresis session”[2] only. If you’re not fully up on medical terminology, we’ve highlighted some terminology below this article. In any event, this news has triggered some excitement with this penny stock prior to the opening bell on March 27, 2019.

Globus Maritime Limited (GLBS)

One of the penny stocks on our List Of Penny Stocks, Globus is once again attracting attention this morning.  The stock had gapped up to highs of nearly $5 around 7AM EST. What could have triggered this?

We’re back to the discussion about US trade talks with China.  We’ve also got some other earnings to look forward to as far as the shipping sector is concerned.  Also gapping up in sympathy with the sector: DryShips Inc. (DRYS), Top Ships Inc. (TOPS), and Euroseas Ltd. (ESEA)

[1] Granulocyte colony-stimulating factors is a type of growth factor. You might have G-CSF after chemotherapy to help your white blood cells recover after treatment. Or you might have it before and after a stem cell transplant.

[2] Apheresis is a medical technology in which the blood of a person is passed through an apparatus that separates out one particular constituent and returns the remainder to the circulation.

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