Premarket Penny Stocks To Watch Today
Welcome to another day of trading penny stocks and seeking out new opportunities. The U.S. President is out of the hospital, stimulus talks are back in the news cycle, and there’s plenty of economic data to digest this week. One thing that we can see going on right now is a surge in stocks under $5. Specifically, these cheap stocks are experiencing certain sector strength at the start of the week. A few of these sectors to watch include tech, energy, and biotech penny stocks.
News from the U.K. that the plan is to add even more renewable, non-fossil fuel energy to its grid became a strong, upbeat catalyst for energy stocks that’ve already been climbing. Throughout the last week, we’ve reported on companies like CBAK Energy Technology (CBAT Stock Report), Polar Power (POLA Stock Report), Sunworks (SUNW Stock Report), and others. What had begun as a catalyst stemming from Elon Musk’s Battery Day discussion has blossomed into momentum of its own. Now, with news out of the U.K. focusing on renewables, this has added more fuel to the fire.
Then we’ve got the biotech side of things. However, it’s not just about coronavirus anymore. We’re now seeing a clear divergence from “COVID Only” catalysts. What was the case earlier in the year has now evolved into something much more. The new traders looking to get in on the COVID hype have come to know many of these stocks for more than just their coronavirus exploits. Immunotherapies, pain management, and other treatment methods are in focus with big moves in many biotech penny stocks today. With all of this in mind, let’s take a look at a few of the premarket penny stocks to watch.
Penny Stocks To Watch: GT Biopharma Inc.
GT Biopharma Inc. (GTBP Stock Report) has steadily gained ground over the past few weeks. In fact, since September 21st, the biotech stock has climbed as much as 33%. Furthermore, daily trading activity has picked up. One of the key points of focus with this company is GT’s TriKE™ platform. It’s a combination protein that bridges an immune cell and a tumor cell to drive tumor cell killing power exponentially. It has led to new first-in-human phase studies to treat leukemia. What’s more is that TriKE™ has been evaluated in ovarian, breast, prostate, pancreatic ductal adenocarcinoma, and lung cancer models.
This morning the company announced a key update regarding its TriKE™ platform. The company entered into a partnership agreement with Cytovance® Biologics. This is a USA-based contract development and manufacturing organization and a subsidiary of the Shenzhen Hepalink Pharmaceutical Group Co., Ltd. The terms of the partnership put Cytovance as the exclusive GMP manufacture for three of GT’s TriKE™ therapeutic product candidates. Cytovance will manufacture TriKE™ in accordance with GMP using Cytovance’s proprietary Keystone® bacterial or mammalian expression systems.
Anthony Cataldo, the Chairman and Chief Executive Officer of GT Biopharma commented, “The flexibility and breadth of our TriKE™ therapeutic platform allows us to quickly adapt to new disease targets, and rapidly advance TriKE™ product opportunities into the clinic.”
This follows shortly after GT announced that it had completed treatment of the first patient enrolled at Dose Level 3 in its GTB-3550 TriKE™ Phase I/II clinical trial for acute myeloid leukemia showing favorable results.
Penny Stocks To Watch: Pioneer Power Solutions Inc.
Pioneer Power Solutions Inc. (PPSI Stock Report) is one of the premarket penny stocks moving higher during Tuesday’s session. Monday, PPSI stock closed at $1.57 and during premarket hours on Tuesday, PPSI stock reached a high of $3.23 without a catalyst of its own.
The company manufactures, sells and services a broad range of specialty electrical transmission. Essentially, it allows customers to manage their electrical power distribution systems. It’s also getting folded into the surge of momentum we’ve seen in fuel cell and energy stocks this months. One of the interesting parts of the sympathy trade is that once certain stocks have extended beyond certain comfort zones, traders look for plausable alternatives. What I mean by this is in the case of SPI a few weeks ago, shares moved over $40. Those looking for penny stocks to buy are less likely to jump into SPI at those levels so they look for alternatives. SUNW essentially became the alternative at the time.
Whether or not that is the case with PPSI today is yet to be seen. What we do know is that stocks like CBAT have extended further. Is PPSI stock simply just benefitting from sympathy momentum or is there more to focus on heading into the session?
Penny Stocks To Watch: Jaguar Health Inc.
Jaguar Health Inc. (JAGX Stock Report) is another one of the biotech stocks to watch during premarket hours on Tuesday. JAGX stock gapped up from a close of $0.31 to premarket highs of over $0.37. The company’s latest move comes after its recent update.
On Tuesday, Jaguar Health announced non-dilutive royalty financing transaction – which has the potential to total $16 million – involving the sale of royalty rights related to the future revenue stream for the company’s FDA-approved drug product, Mytesi® (crofelemer).
Lisa Conte, Jaguar’s president and CEO said, “We intend to use the proceeds to support advancement of regulatory activities associated with our pipeline, including funding the pivotal trial for our lead product candidate, crofelemer, for cancer therapy-related diarrhea (CTD). The trial is expected to initiate in the fourth quarter of 2020. Our wholly-owned subsidiary, Napo Pharmaceuticals, Inc., has contracted with the primary clinical research organization that will support the trial, and we believe the proceeds from the aggregate royalty financing will cover anticipated trial-related costs.”
The company’s management is also set to present at the upcoming Lytham Partners Virtual Investor Growth Conference. So if JAGX is on your list, keep October 8th in mind. The company presents at 11 AM EST.
Penny Stocks To Watch: SINTX Technologies Inc.
SINTX Technologies Inc. (SINT Stock Report) is another one of the penny stocks to watch this morning. The penny stock saw its own explosive move before the opening bell. SINTX has been on our list for months. Today, shares are taking off after its latest update.
The company announced progress toward the manufacture of a “catch-and-kill” mask that will inactivate respiratory viruses. Exposure to silicon nitride has been shown to neutralize several bacterial species and viral strains. O2TODAY has an agreement with SINTX to develop and commercialize antimicrobial face masks. O2TODAY’s CEO Bruce Lorange said, “We are excited by the rapid progress we are making and looking forward to sharing more updates as we have them.”
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SINTX said that it has successfully dispersed and embedded silicon nitride particles into nonwoven and woven fabric fibers. The next steps are the optimization of this process, fabric safety, and efficacy testing. With this latest milestone, will SINT stock continue on the same bullish path in October?