Biotech Penny Stocks To Watch Right Now With Recent & Upcoming Developments
The countdown has begun and penny stocks are already part of the conversation for this week. The next few days could determine a lot not only for the U.S. but for the future of certain policymaking. As I’m sure many of you already know, the Presidential Election officially happens on Tuesday, November 3rd.
Speculation is already building as markets try to price in what could a contested election no matter who is the decided winner on Tuesday night. Regardless, we also know as traders that myriad stocks under $5 tend to react in certain ways no matter what the broader markets are doing. A case in point was last week, the S&P and Dow saw one of the worst weeks since March yet plenty of penny stocks reached new 52 week highs.
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One of the reasons we see this trend is that penny stocks are driven by different catalysts. It might be speculative buying based on recent news, upcoming news, or even rumors. It could also be an unusual trading activity thanks to certain filings or insider actions. Still, penny stocks also have a tendency to move simply based on the appeal of share structure. Low float penny stocks have become a focus recently.
Whether it was Chinese fintech stocks, renewable energy stocks, or even biotech penny stocks, traders seek volatility. Last week we saw some of the most volatile trades result in significant gains for many cheap stocks. Some of which even soared hundreds of percentage points.
Biotech Penny Stocks To Watch
- GT Biopharma Inc. (GTBP Stock Report)
- vTv Therapeutics (VTVT Stock Report)
- Pieris Pharmaceuticals Inc. (PIRS Stock Report)
- Trevena Inc. (TRVN Stock Report)
- Soleno Therapeutics Inc. (SLNO Stock Report)
So what’s in store for the week? Well, I’m sure we’ll see plenty of pent up volatility come out in the market ahead of Tuesday’s election. Furthermore, we’ve also got to keep in mind certain sectors. One of which is biotechnology and healthcare. There are several conferences going on this week. Meanwhile, several companies have previously announced key data to be released this week. In light of that, this list of biotech penny stocks could have a few top names to watch heading into the first week of November.
Biotech Penny Stocks To Watch #1: GT Biopharma Inc.
If you’re searching for trending biotech penny stocks to watch right now, GT Biopharma Inc. has been on the radar since late September. At the time we first began monitoring corporate progress, GT Biopharma had just released key Phase data on its current Phase I/II trials. Specifically, it was data from its GTB-3550 trial for treating acute myeloid leukemia and a patient had just completed a Dose Level 3 portion in that trial. Not only were the results favorable, but interim data from this trial was also chosen for presentation at the upcoming ASH conference.
Where this week could come into play is what else GT Biopharma reported in that update regarding the interim results. The company said that an abstract will be published online in the November supplemental issue of the journal Blood. The first publication will be in the online ASH meeting program on November 5, 2020. Regardless of the election, Thursday could be another important day to keep in mind in light of this. Furthermore, GT Biopharma’s treatment platform that GTB-3550 is built on, TriKE, has gotten significant attention recently.
The company recently partnered up with Cytovance® Biologics, a subsidiary of the Shenzhen Hepalink Pharmaceutical Group, to exclusively manufacture three of GT’s TriKE™ therapeutic candidates. Cytovance will use its proprietary Keystone® bacterial or mammalian expression systems to manufacture these therapeutics. What’s more is that GT recently brought on new Scientific advisors to expand on the potential application of TriKE in other cancers including prostate. TriKE™ has been evaluated in ovarian, breast, prostate, pancreatic ductal adenocarcinoma and lung cancer models.
Biotech Penny Stocks To Watch #2: vTv Therapeutics
Another one of the biotech penny stocks to watch this week is vTv Therapeutics. Late last week, VTVT stock picked up momentum in a big way after the company announced that it would present at the Clinical Trials on Alzheimer’s Disease Digital Event. vTv presents on November 4th and will discuss data on the baseline characteristics of patients enrolled in the ongoing phase 2 Elevage Study of its azeliragon treatment.
Azeliragonas is being lauded as a potential treatment for mild-probable Alzheimer’s disease in adult patients who also have type 2 diabetes. Patient enrollment in the Elevage Study concluded as of September 2020 and vTv expects to report topline results in December 2020.
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Like any interim data, the market can get a glimpse into the progress or lack thereof. vTv, for the most part, has been making stronger advances in diabetes-specific treatments. Its TTP399 is currently in Phase 2 studies to support the clinical potential of the treatment as an oral adjunctive in type 1 diabetes. Recent data suggested that the therapy didn’t increase the risk of diabetic ketoacidosis, which could be life-threatening.
TTP399 aims to address unmet needs for patients living with this symptom and manage better outcomes once treated. Heading into this week, however, vTv will be focused on delivering results that pair Alzheimer’s with diabetes on Thursday, delivering preliminary Phase 2 data.
Biotech Penny Stocks To Watch #3: Pieris Pharmaceuticals Inc.
Last week, Pieris Pharmaceuticals Inc. saw a surge of trading action. Since Monday, PIRS stock has climbed roughly 13% with increasing volume coming in throughout the week. In fact, Friday’s activity was the highest that PIRS stock saw all month in October and shares closed within 2 cents of its high of day. This week could be important for the company because Wednesday Pieris hosts a third quarter investor call to discuss its financial results and give a corporate update.
Most of October saw PIRS stock attempting to rebound after a bad beat in September. The company had given updated tumor treatment data that apparently missed the mark. Pieris’ phase 1 monotherapy and atezolizumab combination study of its PRS-343 treatment failed to impress investors. PIRS stock ended up dropping from over $3 to below $2 by the start of October.
Needless to say, the company explained that the results could justify moving to Phase 2. In its September update, Stephen S. Yoder, President and Chief Executive Officer of Pieris, said, “We look forward to completing the in-use studies necessary for resolution of the partial hold and beginning the phase 2 trial of PRS-343 in combination with ramucirumab and paclitaxel alongside our clinical trial collaborator Eli Lilly and Company.”
We’ll see what comes next this week when Pieris gives this next update on Wednesday.
Biotech Penny Stocks To Watch #4: Trevena Inc.
Trevena Inc. was a classic “sell the news” penny stock last week. The last few months have proven to be very bullish for TRVN stock. They are still bullish, in general. However, on a short-term time frame, last week’s momentum was stymied by selling on a day of otherwise positive results. In the article, “Looking For The Best Penny Stocks To Buy Now? 3 Tech Names To Know,” we cited a key development. The Federal Register site showed an “unpublished document” referencing “Schedules of Controlled Substances: Placement of Oliceridine in Schedule II”. This referenced the company’s prior news on how OLINVYK will be commercially available when the U.S. DEA gives it a controlled substance schedule.
Friday, Trevena formally announced that oliceridine has been classified as a Schedule II controlled substance. This news sparked an early gap up. It ended up resulting in a mid-day sell-off, and final closing price of $2.62. TRVN stock managed to recover by the end of the day but not before strong selling took it down to test its 50 day moving average.
Since June 2nd TRVN stock has become a focus. The penny stocks’ initial move came momentum that built from its TRV027 COVID-19 advancements. The company began collaborating with Imperial College London to evaluate the treatment potential of TRV027. Specifically, this was for acute lung injury in COVID patients. Now with OLINVYK as more of a focus, we’ll have to see if there’s some follow-through from Friday’s upswing. The company is hosting a conference call to discuss these latest developments on Monday morning 1 hour before the opening bell.
Biotech Penny Stocks To Watch #5: Soleno Therapeutics Inc.
Finally, Soleno Therapeutics Inc. was another one of the biotech penny stocks to watch late Friday afternoon. Following a 16-day string of selling, SLNO stock saw its first day of breathing room. In late September, the penny stock broke out to highs of $3. This was thanks to favorable top-line results in a Phase 3 study. This was of its Diazoxide Choline Controlled Release tablets for patients with Prader-Willi Syndrome.
As you’ll see, however, SLNO stock’s breakout was short-lived. Shares soon began crumbling after the filing of Soleno’s Special Meeting of Shareholders on October 19th. Among other things, the company aims to approve a 150% increase in authorized shares. In many cases, something like this could be seen as early signs of potential fundraising efforts. Usually when a company wants to increase its authorized share count, it’s because it doesn’t have enough shares to issue compared to the current Outstanding share count. Whatever the ultimate intention is, has yet to be seen.
Why could SLNO be one of the biotech penny stocks to watch this week? The company’s Phase 3 trial, DESTINY PWS (C601), evaluating once-daily Diazoxide Choline Controlled-Release tablets for patients with Prader-Willi Syndrome, will be highlighted in a late-breaking oral presentation at The Obesity Society’s ObesityWeek® 2020 meeting. The data will be presented by Parisa Salehi, M.D., Clinical Director of the Prader-Willi Syndrome Clinic at Seattle Children’s Hospital, on Tuesday (11/3).