Some investors are hesitant to invest in penny stocks due to their unpredictability. However, those who play the risks and invest wisely can see great profits. Trading and finding penny stocks to buy can be overwhelming so here are a couple of penny stocks to watch on for the next month. Being that Robinhood has been a popular penny stock trading app, here are two stocks to watch:
Penny Stock To Watch #1: Oragenics Inc. (OGEN)
Oragenics Inc. (OGEN Stock Chart) is a biopharmaceutical company that develops antibiotics for infectious diseases and treatments for oral mucositis. During pre-market trading on May 20th, the company’s share price saw a 12.5% increase from its previous close. The biotech penny stock had trouble breaking $0.50 mark but got to $0.5188 on its move.
Strong penny stock news helped with this move. The company’s Phase II clinical trial for AG013 enrolled 80 patients. In addition, the World Health Organization gave AG013 the generic name of dapatifagene navolactibac.
“We continue to increase the number of clinical sites across the globe with 48 of the 61 identified clinical sites actively enrolling patients for our Phase 2 clinical trial of AG013.”Alan Joslyn, Ph.D, the President and CEO of Oragenics
Aside from their recent news, the technical analysis could also show potential for a large jump in the near future. The penny stock has reached its 3-year support line. This is significant because the last time the stock did this, share prices bounced off the support and increased 750% over 13 days.
Penny Stock To Watch #2: Outlook Therapeutics Inc. (OTLK)
Outlook Therapeutics Inc. (OTLK Stock Chart) is a late clinical-stage biopharmaceutical company focused on creating and selling monoclonal antibodies for ophthalmic indications. Over the last 3 trading sessions, this healthcare penny stock has increased from $0.93 to $3.35, or 260%. The move has also been supported by large trading volume on all 3 days.
The company’s report on its Q2 business highlights prompted this move. Outlook Therapeutics got its ONS-5010 antibody to Phase III of its clinical trial while also appointing Dr. Jennifer Kissner to Senior Vice President of Clinical Development.
“We are pleased with the progress being made in both of our Phase 3 clinical trials for ONS-5010 thus far in 2019, which includes the FDA’s acceptance of our IND for ONS-5010 and the initiation of our second Phase 3 trial. The two studies remain on track with our plan to submit ONS-5010 for regulatory approval in multiple markets in 2020.”Lawrence A. Kenyon, President, Chief Executive Officer and Chief Financial Officer of Outlook Therapeutics