Are Any Of These Biotech Penny Stocks On Your Watchlist This Month?
While it is true that timing the market is something that investors often try to accomplish, it’s important to note that it’s tough to do that consistently. So, it’s important for investors to watch the market closely and look out for penny stocks that are making an upward move.
It’s also key for those same investors to look at things like penny stock news that could become a potential catalyst for momentum. Obviously biotech penny stocks can be a source for lots of pivotal news.
The same principle should be in place when one is trying to identify biotech penny stocks to buy. Case in point, there were several penny stocks to watch leading into the new week, all with new updates or upcoming updates. Based on speculation, those companies saw early momentum this week.
Now, in this article, we’ll look at a few other penny stocks that have just come off of recent news and may warrant a closer look. Here is a look at 4 biotech penny stocks that reported new updates recently.
Penny Stocks To Watch #1: GT Biopharma (GTBP)
One of the biotech sectors micro-cap penny stocks to watch a few weeks back was GT Biopharma (GTBP Stock Report). This company focuses on immune diseases like cancer and HIV. Most recently the company’s scientific team presented new findings on its novel TriKE treatment platform. They highlighted not only the diversity of the platform but also the effectiveness of it as well.
In addition to showing that the treatment method could irradicate HIV-infected cells, a recent update shed light on the company’s application for lung cancer. Specifically, Drs. Jeffrey Miller, Martin Felices and Pippa Kennedy from the University of Minnesota presented research results concerning a solid tumor targeting TriKE™. It actually demonstrated the killing of non-small cell lung cancer tumor cells.
“We believe the NSCLC TriKE™ has the potential to offer lung cancer patients with a treatment option that achieves targeted killing of metastatic lung cancer cells in all locations within the body, and hopefully will become part of a scalable and curative therapeutic strategy for lung cancer patients.”Anthony Cataldo, the Chairman and Chief Executive Officer of GT Biopharma
That being said, shares of GTBP stock have hovered around $0.16 a share. At the start of the first full week of November, GTBP jumped to highs of $0.195 in early trading on Monday. The company’s GTB-3550 is GT Biopharma’s first TriKE™ product candidate and is currently in Phase I/II clinical trials.
Penny Stocks To Watch #2: Calithera Biosciences (CALA)
One of the penny stocks that has made a significant upward move was Calithera Biosciences Inc (CALA Stock Report). Earlier in October, it emerged that the company had concluded the enrollment of patients for the study of its product telaglenastat. The study tests whether the treatment can be combined with Exelixis in order to treat kidney cancer.
It’s a highly important development for the company and one that could send Calithera on a good path. The markets gave a thumbs up to the news as well. Last week, the stock climbed by as much as 25%.
What’s more, is that the company set November 12 to report third-quarter results as well as host its earnings call. As discussed in a previous article, upcoming events can see periods of speculative volatility so keep that in mind.
Penny Stocks To Watch #3: Avadel Pharmaceuticals (AVDL)
The other penny stock that has been in the middle of an uptrend is Avadel Pharmaceuticals PLC (AVDL Stock Report). The latest rally in the stock commenced towards the end of September. It came after the US FDA agreed to reduce the sample size for testing of one of its products.
Even with this being the case, shares of AVDL stock have really been in an uptrend since April. There was a run-up from 52-week lows of $1.03 to highs of $3.58. AVDL then retreated back to lows of $1.82 in August. Then once again rallied higher in September. Contributors from PennyStocks.com have reported on AVDL stock since June of this year as the stock rallied over 130% in that time.
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The company’s FT218 is meant for treating narcolepsy. As soon as the news was announced in September, the stock soared significantly. It actually ran as high as $5.37 before settling back around $3.50. But recently, Avadel has found itself gaining more attention.
The company set November 12th as the date to report third-quarter earnings. This has apparently become reason for some investors to watch the penny stock closer. Will these earnings trigger another move higher or is AVDL stock set to slide later this month?
Penny Stocks To Watch #4: Bellicum Pharmaceuticals (BLCM)
Last but not least, Bellicum Pharmaceuticals Inc (BLCM Stock Report) made significant gains on Friday. This came after it emerged that one of its products is going to be presented at an important event.
The company’s chimeric antigen receptor (CAR) program is going to be presented at the annual meeting. This is the Society for Immunotherapy of Cancer (SITC) this week.
Fortunately or unfortunately, the date of the presentation won’t be until November 8. However, leading up to the event, BLCM stock has continued higher. Since hitting 52-week lows of $0.72 in late October, shares have jumped as high as $1.47 so far this week. Is that move set to continue?