Penny stocks continue to see volatility as the market tries to figure itself out. One thing is certain and that is there has been no shortage of penny stock news catalysts. This morning, even though it is still early, a number of companies (on this list of penny stocks) have caught serious momentum and are already up big before Tuesday morning’s opening bell.
We usually see most news catalysts come via the biotech sector. Furthermore, when there’s economic news, commodities are usually what investors pay attention to. Needless to say, August still has much more to offer. Heading into the last 11 days of the month, we’ll see if market momentum picks up with “back to school season.”
Penny Stocks To Watch After Licensing News: Tonix Pharmaceuticals (TNXP)
The first penny stock on this watch list is Tonix Pharmaceuticals (TNXP Stock Report). This has been a stock to watch for a few weeks now. TNXP stock price has steadily climbed and on Tuesday, positive news continues to move the needle. On Monday, shares of the company closed at $0.4656 so what has caused the jump to pre-market highs of $0.738 so far?
The biotech company announced an exclusive agreement to in-license its TNX-1600 to treat posttraumatic stress disorder. It may also target central nervous system disorders. The agreement is a license with Wayne State and TRImaran, which will acquire assets.
Frank Bymaster, Chief Scientific Officer and co-founder of TRImaran Pharma Inc. said, “TNX-1600 is a novel TRI that inhibits simultaneously the reuptake of three key neurotransmitters: serotonin, norepinephrine, and dopamine. Each of these three neurotransmitters plays a key modulatory role in many CNS processes. Inhibiting reuptake of all three may provide an effective treatment for PTSD.
Penny Stocks To Watch After Earnings Beat: Seadrill (SDRL)
Another penny stock to watch before Tuesday’s opening bell, Seadrill (SDRL Stock Report). The company came out with earnings on Tuesday morning. Though the results didn’t show better losses, they did beat street estimates. Even when earnings appear negative, a beat of Wall Street’s analysts can be favorable for retail and institutional investors.
SDRL stock rallied to highs of more than $3.20 before 8 AM on Tuesday. Seadrill posted a wider second-quarter loss. However, revenue from the company topped the view of “The Street.” The company came in with $321 million for the quarter, which beat analysts consensus of $295.1 million.
Biotech Penny Stocks To Watch On Key Developments: iBio Inc. (IBIO)
One of the penny stocks surely to capture attention on Tuesday: iBio Inc. (IBIO Stock Report). When we talk about news catalysts, it may not get better than a big deal with a leader in an industry. As far as iBio goes, the company secured a deal along those lines. On Tuesday, IBIO stock jumped over 300% (so far).
A deal was inked between the company and a subsidiary of United Therapeutics Corporation (UTHR Stock Report), an $80 Nasdaq listed biotech stock. The subsidiary, Lung Biotechnology PBC, and iBio will produce recombinant human collagen-based bioink for 3D printing of organ transplants. Yes, you read that correctly – 3D printing of organs. Shares have jumped from a closing price of $0.70 on Monday to pre-market highs of $3.60 before 8 AM on Tuesday.
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“We’re pleased to have been selected by United Therapeutics to help in the mission to fundamentally change access to vital organ transplants for patients,” said Tom Isett, a member of iBio’s Board of Directors.
