coronavirus penny stocks to trade right now

Penny Stocks Are Surging & So Are COVID Cases; 4 Names To Know

This week, penny stocks as well as new coronavirus cases are surging. In the U.S. alone, more than 4.5 million confirmed cases were recorded in total. More than 150,000 deaths have also been counted. Over the past week, the average number of deaths a day in the US has climbed more than 25%, from 843 to 1,057. Florida, a current hot spot, on Thursday reported 253 more deaths, setting its third straight single-day record.

What’s more is that the U.S. President has taken heed from some of his constituents and walked carefully in his comments. On Thursday, in a press conference, the president made it known that he still wants schools to reopen in the fall. That’s in spite of numerous cities calling for virtual learning to start the school year.

However, something that he did request is a call to action of recovered coronavirus patients. In the press conference, he said, “If you’ve had the virus if you donate it would be a terrific thing. We really need donations of the plasma. To those that have had the virus: You’ve gotten through it, and I guess that means you have something very special there.”

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This has seemingly sent a jolt of energy across the newly formed “COVID sector” of the market. Everything from coronavirus vaccine stocks to medical device and testing stocks upticked after the comments. Considering this was an aftermarket “event,” it will be interesting to see how some of these penny stocks finish out the week and the month on Friday.

Coronavirus Penny Stocks To Watch: ADMA Biologics

ADMA Biologics (ADMA Stock Report) has been on the radar since late-March. At the time, ADMA was just coming off of an earnings update and was trading around $2.40. Since then, the trend has been relatively side-ways. However the range has flip-flopped between $2.50 and $3.40 for the most part. Recently, however, the company has garnered a bit more attention in light of rumblings related to the FDA nearing a decision related to antibody-rich plasma.

The Wall Street Journal came out with a report that could signal potential momentum for plasma collection companies. The Journal cited “people familiar with the matter” but no one by name. Considering this has yet to be officially confirmed, it simply something to note at that time. In addition to that, we also had the latest comments from President Trump citing an outcry of recovered patients to start donating.

On Wednesday, the company announced that it will host a conference call to discuss its financial results on August 5th. Better yet is earlier in July, the company also reported that it began operations and initiation of collections at its newest plasma collection facility in Knoxville, TN. ADMA further announced that it has submitted a Biologics License Application (BLA) to the U.S. FDA seeking approval for this second plasma collection center. With so much related progress, will ADMA stock be one to watch at the end of the month?

coronavirus penny stocks to watch ADMA Biologics (ADMA stock chart)

Coronavirus Penny Stocks To Watch: T2 Biosystems

 Earlier this year, T2 Biosystems Inc. (TTOO Stock Report) came into a more direct focus following bigger updates across the biotechnology sector. Since then, we’ve seen shares explode from around $0.50 to highs of $2.31 on July 2. At the beginning of last month, anticipation was building around the expected first shipment of the company’s SARS-CoV-2 test. Then on June 30th, T2 announced the U.S. launch of its T2SARS-CoV-2™ Panel. The Panel runs on T2’s FDA-cleared T2Dx® Instrument, which is a fully-automated, random access system capable of performing seven tests simultaneously. 

The company caught some attention similar to the way ADMA did after the President’s comments. T2 Biosystems provides rapid in vitro diagnostic tests to hospitals and laboratories. Its core technology is T2 Magnetic Resonance technology. It can detect a variety of molecular targets directly from whole blood. Considering the clear focus on companies even remotely related to blood plasma, it makes sense that momentum has built a bit after Thursday’s closing bell.

[Read More] Top Penny Stocks To Watch Right Now After Latest News

There are a few things to keep in mind after the hype settles. First, the company is set to report its financial results on August 11. That’s still a few weeks away but an item to keep mindful of. Also, T2 will participate in an industry conference on August 13th. Given the current trend in TTOO stock anyway, it has managed to hold an uptrend for several months. Will this latest “Trump Bump” spark the next leg in that trend?

coronavirus penny stocks to watch T2 Biosystems (TTOO stock chart)

Coronavirus Penny Stocks To Watch: electroCore, Inc. 

electroCore, Inc.  (ECOR Stock Report) has held a place on the radar since early April. electroCore just submitted an Emergency Use Application to the FDA. The point of doing this is to allow electroCore to facilitate a study and clinical use of its gammaCore Sapphire nerve stimulation therapy for respiratory symptoms associated with COVID-19.

Fast-forward to more recent weeks and the FDA issued the Emergency Use Authorization allowing for the use of its gammaCore Sapphire™ CV product. Specifically, this was a non-invasive vagus nerve stimulation product. It can be used at home or in a healthcare setting to treat adult patients with known or suspected COVID-19. On top of this, just last week, electroCore was granted a U.S. patent. It was “Systems and Methods for Treating Patients with Diseases Associated with Replicating Pathogens” for those following at home.

All of those were key updates that have acted as a catalyst along with ECOR stock’s rally this year. But that hasn’t just stopped there. After Thursday’s closing bell electroCore announced more information about availability, distribution, and pricing for gammaCore Sapphire™ CV under its Emergency Use Authorization.

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Dan Goldberger, Chief Executive Officer of electroCore, said “Our goal is to make this process as simple as possible for all of the patients, physicians and hospitals that would like to use gammaCore Sapphire CV, and we have engaged Premier Pharmacy Services, a national specialty pharmacy, to support its distribution.”

coronavirus penny stocks to watch electroCore Inc. (ECOR stock chart)

Coronavirus Penny Stocks To Watch: Tonix Pharmaceuticals

It seems like Tonix Pharmaceuticals (TNXP Stock Report) has been one to watch for a while now. In fact, TNXP stock has been on the list of penny stocks to watch since late-February. During the period between here and there, TNXP has seen its share of volatility. Most recently the penny stock has experienced a significant surge in momentum.

This month Tonix announced that it met its target enrollment of approximately 470 participants in a Phase 3 RELIEF trial of TNX-102 SL 5.6 mg. The treatment is in development as a non-opioid, centrally acting analgesic, taken daily at bedtime for the management of fibromyalgia. Tonix also announced a collaboration with Columbia University to study immune responses against COVID-19.

Earlier this week, Tonix announced preclinical results of TNX-1900 will be presented via a poster at the American Academy of Neurology’s Sports Concussion Conference. The company will also present at the SNN Network Virtual Investor Conference on August 6th. Considering that TNXP stock falls into the coronavirus “sector,” a surge in recent momentum might be expected.

The research collaboration I mentioned above will focus on T cell and antibody responses to SARS-CoV-2 (CoV-2). Given the widespread focus on coronavirus vaccine stocks, TNXP shares have responded in line with the rest of the niche. The biggest question now is will TNXP stock continue higher in August or has it topped out? Leave us a comment if TNXP is on your list of penny stocks to watch right now.

coronavirus penny stocks to watch Tonix Pharmaceuticals (TNXP stock chart)

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