3 Coronavirus Penny Stocks To Watch Before September
We’re winding down another month and coronavirus penny stocks remain a key focus. There have been several, key government initiatives put in place that has given a boost to this “micro-sector”. Most recently, the Trump administration pushed ahead for emergency use authorization of convalescent plasma. This put coronavirus penny stocks center stage on Monday. The race for a vaccine or at least something to remediate early symptoms is heating up as the election nears.
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Other reports today, that haven’t been confirmed, from Financial Times also suggest the rumor mill is also wondering about a potential vaccine. The Times reported that there could be a scenario for an emergency use authorization for a vaccine being developed by AstraZeneca and Oxford University. Despite AstraZeneca telling Financial Times that it hasn’t discussed anything of the sort, shares of AZN stock climbed at the top pf the week. This, in turn brought a spotlight to small-cap coronavirus stocks.
Furthering the momentum for these stocks are recent, global developments. There are now 172 countries engaged with the World Health Organization-led COVAX plan. It’s designed to secure “a globally coordinated rollout” of Covid-19 vaccines that prove safe and effective, according to WHO director-general Tedros Adhanom Ghebreyesus.In light of this renewed interest in coronavirus vaccine stocks, here’s a quick list of names to know before September.
Coronavirus Penny Stocks To Watch: Revive Therapeutics Ltd.
Revive Therapeutics Ltd. (RVVTF Stock Report) (RVV) has been a long-standing COVID-19 stock to watch this year. Since early on in the fight for a vaccine candidate, Revive has focused on breakthrough therapies for rare diseases. The company has also taken a more diversified approach and expanded its model to include things like psychedelics as well. However, the more recent focus has been on its biotechnology strategy in addressing coronavirus.
Late last week the company announced that following the U.S. FDA approval to proceed with Revive’s Phase 3 clinical trial, they will evaluate the safety and efficacy of Bucillamine in patients with mild-moderate COVID-19. Revive said it’s proceeding with plans to expand the Phase 3 clinical trials in Asia-Pacific Countries and Canada – “APAC.”
“With the approval from the FDA to conduct the Phase 3 clinical trial in COVID-19 and our progress that we have made to date, we are now establishing plans to complement and support our initiatives in the U.S. to include clinical sites in APAC and Canada,” said Michael Frank, Revive’s Chief Executive Officer. One of the reasons why Revive could be on the list of coronavirus penny stocks to watch before September has everything to do with this trial. The company expects to open the Phase 3 clinical trial for patient enrollment and dosing next month.
Aside from these recent developments, Revive’s chart has also shown a clear trend. If you look from March of this year to present, RVVTF has continued climbing with the 50 Day Moving Average acting as support. Each time it has come to test that level, RVVTF has bounced off and continued higher. Considering the plan for September, will this trend continue into the second half of the third quarter?
Coronavirus Penny Stocks To Watch: Genetic Technologies
Genetic Technologies (GENE Stock Report) could be another one of the coronavirus penny stocks to watch. This week GENE stock kicked things off on a high note with a jump to $4.65. If you remember from earlier this year, we highlighted Genetic Technologies amid a huge move. The company said it aims to produce, at scale, a COVID test that could predict whether a person is at risk of severe COVID-19 if infected.
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Genetic reported that it completed the design and request for the initial production of the SNP (Single Nucleotide Polymorphism) panel. Furthermore, the company ordered this from Thermo Fisher Scientific and confirmed with major manufacturers that the COVID-19 Severity Risk Test is capable of being rolled out on a large scale. This saw shares explode to highs of $10.30 before quickly coming back down to earth a day later. Of course, it came after the company announced a discounted financing deal for $5.1 million at a price per share of $5.
In any event, GENE stock has held a consistent sideways trend after the dust settled. No new updates or filings have come out from the company directly. However the recent spike in trading momentum for coronavirus penny stocks has made its way to spark a move in GENE stock on Monday. With this renewed interest and fresh capital, will GENE be one of the COVID penny stocks on your list before September?
Coronavirus Penny Stocks To Watch: XpresSpa Group Inc.
XpresSpa Group Inc. (XSPA Stock Report) is still fighting for market dominance. Over the last several weeks, XSPA stock slid hard. It fell from highs of $8.82 to recent lows of $2.54. There was a bounce attempt at the end of July but once again shares fell back, this time to lows of around $2.80. On Monday, XSPA stock caught another burst of momentum following its latest update.
If you’ve followed this story for as long as we have, you might remember the early origins. Initially, the in-airport spa company was having high-level talks to pivot into COVID testing. Fast-forward a few months and XpresCheck was born. It has begun a pilot program at New York’s John F. Kennedy International Airport Terminal 4. This week XpresSpa came out with more news on another big step for the company.
The company said it was able to slash the waiting time for results from 48 hours or more to under 15 minutes. XpresSpa signed a contract with Abbott Laboratories securing 100 ID NOW testing instruments. This rapid molecular testing technology has become a critical part of the diagnostic landscape to help fight the pandemic by allowing fast, accurate diagnosis. This comes just days after the company announced the opening of the XpresCheck at Newark Liberty International Airport’s Terminal B. Considering the strong start to the week, will XSPA stock finish the month of August on a high note?
