4 Penny Stocks To Watch Amid New Record Numbers In July
Here we are at the start of a new week and coronavirus penny stocks remain in focus. While the stock market rally stutter-stepped a bit, it hasn’t seen COVID-related names stall. Investors are looking at another pending stimulus package discussion this week.
Top Republicans and Democrats will begin talks today. No matter which side you’re on, it’s another trillion to multi-trillion dollar package aimed at helping the U.S. economy. Is it too little too late or right on time based on recent cases surging in hotbeds across the country?
There’ve now been over 600,000 deaths globally with over 14 million cases to date. Meanwhile, former zones that supposedly flattened the curve early on are seeing some resurgence. Hong Kong, for instance added a new record COVID-19 cases with its government calling for mandatory face masks.
L.A. mayor, Eric Garcetti, warned that the city could be on the verge of another stay at home order because the Covid-19 situation is not under control. A lawmaker in Florida has called for a lockdown.
Though we’re likely far from an immediate vaccine, early trials are proving to be successful. Last week we saw Moderna’s Phase 1 study report positive results. Meanwhile, AstraZeneca’s vaccines showed “robust immunes responses” in all participants in a Phase 1/2 trial. With that type of news, coronavirus penny stocks have seen a jolt of momentum come into the stock market today. The biggest question is if it will continue during the rest of the month.
Coronavirus Penny Stocks To Watch: Revive Therapeutics
Revive Therapeutics (RVVTF Stock Report) (RVV) has been one of the COVID stocks to watch over the last few months. In fact, since May, the penny stock is up by more than 90%. It has also rallied as high as $0.50 during that time. Something that has helped spark such a move has to do with Revive’s latest progress on several products in its pipeline.
On June 30, Revive announced it submitted its Investigational New Drug application to the U.S. FDA for a Phase 3 confirmatory study for Bucillamine. The trial is to see Bucillamine as a potential treatment in COVID-19. Once the U.S. FDA allows the IND to go into effect, Revive said it will initiate a randomized, double-blind, placebo-controlled study of Bucillamine in patients with mild-moderate COVID-19 in Q3-2020.
The company said it will enroll up to 800 patients that will be randomized 1:1:1 to receive Bucillamine 100 mg three times a day, Bucillamine 200 mg TID or placebo TID for up to 14 days. The company has also previously met with Health Canada in a Pre-Clinical Trial Application meeting.
This was, again to evaluate the potential of a clinical study of Bucillamine in the treatment of patients with mild-moderate COVID-19 due to the SARS-CoV-2 infection in Canada. Revive’s said that it intends to follow up with the submission of the complete CTA package for Health Canada around its Phase 3 study as part of the same multinational clinical strategy. Considering the focus on COVID penny stocks, will this proposed Phase 3 study catch investors’ attention in July?
Coronavirus Penny Stocks To Watch: AIM ImmunoTech
AIM ImmunoTech (AIM Stock Report) is another one of the COVID penny stocks we’ve tracked for some time now. We’ve reported on this company since late-January. At the time we also explained how the coronavirus was starting to become “a big topic” and how “following trends in the market” could help determine potential penny stocks to watch. Fast-forward and AIM began testing Ampligen as a potential treatment for COVID-19.
AIM has also filed a provisional patent application for, among other discoveries, the use of its experimental drug Ampligen®. Specifically, it was as a potential early-onset therapy for the treatment of COVID-19 induced chronic fatigue. The last update was from July 9th. This is when AIM entered into a clinical trial agreement with Roswell Park Comprehensive Cancer Center.
It was in support of Roswell Park’s Phase 1/2a trial of Ampligen (rintatolimod) in combination with interferon alfa-2b. The combo specifically targets cancer patients with COVID-19. According to the company, enrollment was expected to begin 30 days from that update. The initial Phase 1 portion of the study is planned to evaluate 12-24 patients receiving both Ampligen and interferon alfa-2b at escalating doses. AIM stock started climbing again on Monday along with most of the coronavirus vaccine stocks at the start of the week. Year to date, AIM stock is up over 570%.
Biotech Penny Stocks To Watch: Xenetic Biosciences Inc.
COVID hasn’t only sparked interest in coronavirus vaccine stocks this week. It has also shed more light on immunotherapy & biotech penny stocks, in general. Take, for instance, Xenetic Biosciences Inc. (XBIO Stock Report). It doesn’t focus on coronavirus but it does target immune treatments.
[Read More] Top Penny Stocks To Buy Under $4 Right Now
Last month the company announced that it entered into a master services agreement with PJSC Pharmsynthez. This was to advance the development of its XCART technology for B-cell malignancies. Under the terms of the agreement, Pharmsynthez will act as the primary contract research organization to assist in managing the collaboration with multiple academic institutions in Russia and Belarus.
This month, Xenetic followed with an update on its XCART platform. This included going over its previously announced agreements not only with Pharmsythez but also with Scripps Research.
Curtis Lockshin, Ph.D. and Chief Scientific Officer of Xenetic said, “e believe that we can strengthen the data sets with which we approach discussions with the United States Food and Drug Administration and, importantly, support our IND filing to advance our U.S. development strategy for XCART.”
XBIO stock surged on July 20th seeing some of its highest trading volume of the year. In a tweet last week, the company said “$XBIO believes if we are able to successfully generate preclinical data which further proves the concept of XCART, that we can generate significant value before even getting to the clinic…we think there is an opportunity for significant moves very quickly. #CarTCellTherapy.”
Biotech Penny Stocks To Watch: Onconova Therapeutics Inc.
Another non-coronavirus penny stock that’s been on our list this year is Onconova Therapeutics Inc. (ONTX Stock Report). We actually discussed this company over the weekend following an active week last week. Keep in mind if you’re new to the site, we first saw this in early December. Shares traded around $0.25 and Point72 Asset Management had just reported a stake in the biotech penny stock. Now, ONTX stock has seen 2020 highs of over $1 after today’s $1.07 high.
The company most recently announced the e-publication in the international hematological malignancy journal Leukemia Research. These were with regard to results from a Phase 1 company-sponsored study. It was of its oral rigosertib in combination with standard dose azacitidine. The target group included patients diagnosed with either higher-risk myelodysplastic syndrome or acute myeloid leukemia.
What’s more, is that the company was set to receive some media attention in July as well. Worldwide Business with kathy ireland® spotlighted key executives from Onconova Therapeutics this week. Since the show streams on outlets like Bloomberg, we had explained that it could be something to note during your DD process. As we see on Monday, ONTX stock has rallied even higher. Is this trend going to be the new normal for July?