These Penny Stocks Raced Higher On Friday But Can They Maintain The Trend Next Week?
After all of the major markets took a slight dip yesterday, they all seem to be in the green to start off November 22nd’s trading session. It is a strong look for the markets to show some corrections and continue to push upwards. When looking at penny stocks, we have some promising candidates today as well.
For those new to penny stocks, the SEC defines them as any stock trading below $5. These types of stocks have high levels of volatility which allows them to bring investors substantial returns in short amounts of time.
Penny Stocks To Watch Before Next Week
While trading penny stocks can be extremely lucrative, you must trade effectively, or you can lose your money very fast. You should have a game plan ready that incorporates stop-loss orders to minimize your risk.
In addition, you should spend hours researching potential investment opportunities to make sure it is right for you. To help you get started with this research, we have developed a list of penny stocks to watch before next week.
VBI Vaccines Inc. (VBIV)
Kicking things off on November 22nd, VBI Vaccines Inc. (VBIV Stock Report). This biotechnology company creates vaccines for infectious diseases and immuno-oncology. The company has the only FDA approved trivalent hepatitis B vaccine called Sci-B-Vac. Furthermore, the company has 7 ongoing clinical trials in its pipeline.
VBI recently announced it would present its interim data from Part B of its Phase 1/2a study of VBI-1901. This is a cancer vaccine immunotherapeutic candidate. One patient in the study had a tumor size reduction of 33% from Part B. This presentation will happen at the 24th Annual Scientific Meeting and Education Day of the Society of Neuro-Oncology.
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“In an effort to better understand these early tumor response data, we are also characterizing baseline biomarkers and immunologic responses, notably T cell responses. Correlations between immunological biomarkers and tumor/clinical responses will be refined as more patients are enrolled in Part B of the study,” expressed David Anderson, Chief Scientific Officer of VBI Vaccines.
EyeGate Pharmaceuticals Inc. (EYEG)
Like VBI Vaccines, EyeGate Pharmaceuticals Inc. (EYEG Stock Report) is another biotechnology company but it has its focus elsewhere. EyeGate Pharmaceuticals creates treatments for disorders in patients’ eyes. The company’s lead product candidate, Ocular Bandage Gel, hydrates and heals when applied to the ocular surface. In addition, EyeGate has also developed a treatment for anterior uveitis which is the inflammation of the uveal tract.
This biotech penny stock has increased by 85% thus far on November 22nd thanks to some recent news. The company announced that it hit its primary endpoint for its study using the Ocular Bandage Gel eye drop. This treatment demonstrated superiority over standard-of-care for corneal wound repair. EyeGate is expecting additional data from the study next week and the full-data package in mid-December. Not only is EYEG stock no longer considered a penny stock after this move but shares are up more than 200% in Q4 (so far).
Workhorse Group Inc. (WKHS)
In order to take a break from the biotechnology sector, we have an auto company up next. Workhorse Group Inc. (WKHS Stock Report) is a manufacturer that designs, builds, and sells battery-electric forms of transportation. The 2 main parts of its business come from vehicles like trucks and vans. It’s also involved with aviation like drones and helicopters. In addition, the company also evaluates the performance of its consumers’ fleets to help make improvements.
Workhorse revealed that it has entered into a financial agreement for $41 million with an institutional lender. This financing will come from the issuance of a Senior Secured Convertible Note. It can convert into common stock at $3.05 per share. The expected use of funds includes working capital amounts. They’ve also allowed for repayment of existing debt, and other general company purposes.
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The CEO of Workhorse, Duane Hughes, explained, “Additionally, while we now have the resources to deliver on our outstanding orders, we also have the freedom to pursue other strategic initiatives where we’ve already made significant investments. Our new lender is the right partner at the right time for this stage in our company’s development, and we look forward to a mutually beneficial working relationship.”
Aslan Pharmaceuticals (ASLN)
One of the best penny stocks to watch on Friday was, believe it or not, a biotech stock. Aslan Pharmaceuticals (ASLN Stock Report) saw its share soar to highs of $2.98. This may not seem like a lot but considering ASLN stock was trading around $0.38 a day earlier, it’s a considerable move for the penny stock as I’m sure most would agree.
Aslan Pharmaceuticals, a Singapore-based company, focuses on oncology and immunology. Its ASLAN003 therapy is a treatment for a specific type of leukemia; acute myeloid leukemia. If you’ve read our previous articles, you’ve come to understand how big a catalyst positive data can become for biotech penny stocks. In true fashion, Aslan announced that new preclinical data for ASLAN 003 was published in the November issue of Haematologica Journal. The findings were an interesting part of this press release.
In its own words, the company stated that “In the study, ASLAN003 was shown to inhibit protein synthesis and induce differentiation of AML cell lines via activation of AP-1 transcription factors. The study also confirmed that ASLAN003-meditated AP-1 activation is important for the reversal of the blocked differentiation of AML cells.”
Essentially, the data supports ASLAN’s treatment as a potential treatment for AML. With roughly 32 million shares outstanding at an original price of about $0.40, the share structure wasn’t large, to begin with. On Friday ASLN stock traded over 10 million shares and produced a move of 577% from its previous closing price.
