Aptorum Group Stock Rallies 1,066% Overnight Sparking Momentum For Biotech Penny Stocks
If you’re looking for penny stocks to buy right now, you’re probably pretty busy. There’ve been countless breakouts in the energy sector. Additionally, many of these stocks have halted myriad times just after the opening bell. While oil and gas stocks are hot today, so are biotech penny stocks. One of the biggest contributing factors came from a huge move on big news this morning from Aptorum Group (APM Stock Report). The biopharmaceutical company focuses on targeted treatments for infectious diseases.
APM stock managed to jump more than 1,000% quite literally overnight. On Monday, shares closed at $1.22 and during the regular session on Tuesday, APM stock hit a high of $14.23. What’s more, is that the stock reached a premarket high of $29.59. This explosive move came following the company’s update. Aptorum announced its launch of Aptorum Innovations.
This is an infectious disease liquid biopsy diagnostics subsidiary and it has established exclusive in-licensing arrangements with Accelerate Technologies Pte Ltd. This is the commercialization arm of Singapore’s Agency for Science, Technology, and Research. The two will co-develop molecular-based rapid pathogen identification and detection diagnostics, or RPIDD, technology.
Dr. Clark Cheng, Chief Medical Officer and Executive Director of Aptorum Group, commented, “With the significant worldwide disruption caused by the COVID19 pandemic and the current global focus on antimicrobial resistance…Aptorum Group expands its potential infectious disease liquid biopsy diagnostics capabilities in synergy with its current infectious disease platform.”
In any case, the news has brought a wave of attention back to small-cap biotech stocks. Here’s a quick list of names to watch in light of recent sector momentum.
Biotech Penny Stocks To Watch: GT Biopharma Inc.
GT Biopharma Inc. (GTBP Stock Report) has gained attention recently as well. The momentum also stems from one of the company’s recent updates. Earlier last week, GT gave an update on its current Phase I/II Clinical Trial. The company’s GTB-3550 TriKE platform has been designed to initially target acute myeloid leukemia (AML). It’s also the company’s lead drug.
The company announced that it had completed treatment of the first patient enrolled at Dose Level 3 in this Phase I/II trial of GTB-3550. Results appear to have been favorable with the dose showing a decrease in AML blast levels from 18% to 12% in the bone marrow. GT Biopharma also observed an increase in the patient’s NK cell activity and numbers attributable to the IL-15 component of the TriKE™ molecule. Additionally, the patient experienced no adverse reactions.
The company’s TriKE™ has been evaluated in ovarian, breast, prostate, pancreatic ductal adenocarcinoma, and lung cancer models. According to GT Biopharma, it demonstrated a significant reduction in tumor burden in animal models. It also boosted overall survival in animal models of solid tumor cancers.
Based on the clinical trial overview, this Dose Level 3 is the midpoint of its dosing levels. This first phase of the trial will ultimately establish the basis for the second phase where the company will study for toxicity levels in the maximum tolerated dose. During the last week, we’ve seen GTBP experience higher trading volume. Price has also managed to climb from $0.1575 last Wednesday to highs of $0.22 this week already.
Biotech Penny Stocks To Watch: Catalyst Pharmaceuticals Inc. (CPRX)
Catalyst Pharmaceuticals Inc. (CPRX Stock Report) is another high-flyer this morning. Shares have been beaten down for several weeks. Yet CPRX stock continues to make attempts at breaking this trend. The company hasn’t reported much of anything since the end of August.
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The company focuses on rare diseases or patients with unmet medical needs; specifically chronic neuromuscular and neurological diseases. At the end of August, Catalyst and KYE Pharmaceuticals Inc. filed a proceeding in Canadian Federal Court challenging Health Canada’s issuance of a Notice of Compliance (NOC) on August 10, 2020. This was for Medunik’s New Drug Submission for the drug Ruzurgi® (amifampridine). Ruzurgi is also for the treatment of Lambert-Eaton Myasthenic Syndrome.
The “sticky part” of this scenario was that Catalyst’s Firdapse® (amifampridine phosphate) was issued a NOC on July 31, 2020 and was granted data protection as an “innovative drug” as it was the first amifampridine product to be approved in Canada. Data protection is supposed to prevent Health Canada from issuing a NOC to a drug that “directly or indirectly references an innovative drug’s data,” for eight years. Whether or not this week’s momentum has seemed from the anticipation of a ruling is yet to be confirmed. What we can see, however, is that numerous analysts have remained bullish on CPRX stock. Roth Capital, Oppenheimer, and SunTrust all carry Buy ratings on the stock.
Biotech Penny Stocks To Watch: HTG Molecular Diagnostics Inc.
In light of the news from Aptorum, other companies like HTG Molecular Diagnostics Inc. (HTGM Stock Report) are also gaining steam today. We’ve watched this company since late-March as it focused on facilitating treatment for COVID-19 using its platform. Its proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples. Essentially, it helps to identify biomarkers important for precision medicine.
But at the heart of the company is more than just a COVID play. With a clearer focus on oncology and cancer stocks following Gilead’s big acquisition earlier this month, HTG has introduced oncology applications. Late last month, the company announced the commercial release of its HTG EdgeSeq Reveal version 3.0. It’s a web-based biostatistical analysis software suite designed to accelerate customer research by streamlining their statistical analysis of samples processed with HTG’s RUO profiling assays.
Byron Lawson, Senior Vice President and Chief Commercial Officer said in an August 18th PR that the company “saw firsthand the tremendous impact of these newly launched capabilities” in advancing research. “We believe our customers will be able to use these tools to further accelerate their discovery, support translational applications, and to identify potential biomarkers for development of companion diagnostics,” he explained.
This week HTGM stock has continued on its now 3-day uptrend that began late last week. Over the last few days, the penny stock has bounced by as much as 34%.
Biotech Penny Stocks To Watch: Checkpoint Therapeutics
The Fortress Bio group of companies has been a focus over the last few weeks. Checkpoint Therapeutics (CKPT Stock Report) is one of them. In fact, the company was founded by Fortress Biotech (FBIO Stock Report). The company falls into the trend of cancer stocks to watch this month. Checkpoint focuses on the development, acquisition, and commercialization of non-chemotherapy, combination treatments. Its licensed portfolio of antibodies includes targeting programmed cell death-ligand 1 (PD-L1), glucocorticoid-induced TNFR related protein (GITR) and carbonic anhydrase IX (CAIX).
Earlier this month, CVI Investments reported a 5.5% stake in the company. Based on the timing of that report, it was around the same time Checkpoint was in the middle of its investor conference circuit. These included H.C. Wainwright’s Global Investment Conference, Cantor’s Global Healthcare Conference, & MedTech Summit, & Lake Street Capital Markets Growth Conference. What’s more is that at the Society for Medical Oncology Virtual Congress 2020, Checkpoint presented interim safety and efficacy data from its ongoing clinical trial of cosibelimab. The is the company’s treatment used to treat patients with metastatic cutaneous squamous cell carcinoma.
This week, we’re seeing CKPT stock pull somewhat of an aboutface. The penny stock has been in a downtrend for the last few weeks. Tuesday CKPT stock bounced from Monday’s $2.55 low to highs of nearly $3 before the lunch hour. H.C. Wainwright recently raised its price target on CKPT from $15 to $17. It currently maintains a Buy rating on the stock.