Are These On Your List Of Penny Stocks To Watch Right Now?
If you’re looking for penny stocks to buy right now, you’re likely going to begin with a list. I don’t need to tell you how important a list of penny stocks is during volatile times like these. But I will say it helps a lot more than trying to “hunt and peck” for different high-flying names. With that, it’s nice to zero in on different trends. Maybe this involves certain sectors or maybe it’s merely looking for penny stocks under 10 cents, for example. Whichever you choose as a “theme” will help determine the names you seek out.
Given the rising cases of coronavirus recently, biotech stocks have gotten a lot of play. Whether they’re testing companies, coronavirus vaccine stocks, or something with general exposure to the side-effects of COVID, these stocks have been in the spotlight. Furthermore, from the health angle in this niche, biotech penny stocks have essentially evolved the thinking of many traders. COVID introduced them to the wild world of biotech stocks. From there, however, that interest has expanded on more than just coronavirus vaccine stocks.
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We’re now seeing a rise of interest in everything from pain management to immunotherapy treatments. The general idea here is that a narrowed focus on COVID has introduced millions of new traders to the world of biotech. With that kind of growth, it’s likely we see biotech penny stocks become a focus. Are any of these names on your list right now?
Biotech Penny Stocks To Watch: GT Biopharma Inc. (OTC:GTBP)
GT Biopharma Inc. (GTBP Stock Report) experienced a surge of trading momentum over the last several weeks. It initially sparked at the end of September. This came as the company reported on its recent Dose Level 3 update in its Phase I/II trials. Specifically, the company’s GTB-3550 is being evaluated in the treatment of patients with acute myeloid leukemia.
GTB-3550 at a 25mcg/kg/day dose showed a decrease in AML blast levels from 18% to 12% in the bone marrow. Furthermore, there was an improvement in marrow cellularity and improving platelet & red blood cell numbers. Given this outcome, it’s no wonder that GTB-3550’s interim data was chosen for presentation at the American Society of Hematology Annual Meeting and Exposition in a few weeks.
Aside from the treatment itself, the company’s actually treatment technology, TriKE™ has received much more attention recently. The TriKE™ platform is designed to harness and enhance the cancer cell and virus-infected cell killing using the patient’s immune system NK cells. So, according to GT, the goal is for it to become a true, off-the-shelf treatment option. TriKE™ has been evaluated in ovarian, breast, prostate, pancreatic ductal adenocarcinoma, and lung cancer models.
The company announced a publication highlighting the potential of TriKE™ with multiple B7H3 positive cancers. “The findings presented indicate that a B7H3-targeted TriKE™ has the potential to enhance natural killer (NK) cell immunotherapy in solid tumor settings, and supports its further clinical development.”
Biotech Penny Stocks To Watch: Oncternal Therapeutics Inc.
Oncternal Therapeutics Inc. (ONCT Stock Report) was a company we discussed earlier this week. The spark initially came after announcing its third-quarter results. Now, when it comes to biotech, typically early-stage companies tend to have more focus placed on pipeline potential than the actual figures reported. Usually, at the early stages, companies tend to be pre-revenue due to the fact that they’re developing new treatments still in the clinic. However, Oncternal not only reported favorable earnings results, but it also gave a strong update for traders to chew on.
Oncternal recorded a third quarter EPS loss of 22 cents compared to the 32 cent loss from last year’s Q3. Furthermore, sales came in higher, year over year at $585,000 compared to 2019’s $544,000. Still, however, I think it comes down to what the company’s painted as far as what to look for next, that has turned some heads.
“In the third quarter we continued advancing our oncology pipeline while strengthening our balance sheet. We expect to provide additional data updates on our clinical trials in patients with mantle cell lymphoma (MCL), Ewing sarcoma, and chronic lymphocytic leukemia (CLL) in the fourth quarter.”James Breitmeyer , M.D., Ph.D., President and CEO, Oncternal.
What’s more, is that ONCT has upcoming data to keep in mind. The company presents clinical data for over 16 patients with Ewing sarcoma at the Connective Tissue Oncology Society meeting on November 11th. There’s also a clinical data update planned for presentation at the American Society for Hematology in December. This is for patients with MCL and CLL treated with cirmtuzumab plus ibrutinib in the ongoing Phase 1/2 study.
Biotech Penny Stocks To Watch: India Globalization Capital, Inc.
When the conversation about biotech is getting attention, so do some names in cannabis. The advancements made by companies targeting the body’s endocannabinoid system are growing in popularity. India Globalization Capital, Inc. (IGC Stock Report) bridges the gap between cannabis and biotech. The company’s recent focus is on its cannabinoid trial for Alzheimer’s patients. The company unveiled plans to begin early-stage trials for its CBD formation.
This initially stemmed from its 2017 acquisition of rights to a patent filing by the University of South Florida. This was related to a formulation consisting of ultra-low doses of CBD combined with other compounds. The idea behind the treatment is to assist in the treatment of Alzheimer’s disease.
While there haven’t been many new updates from the company, there are a few things to consider. IGC received notice from the FDA to proceed with a 12-subject Phase 1 human clinical trial on its Investigational New Drug Application for IGC-AD1. The investigational drug candidate is based on the previously filed patent by USF. IGC has exclusive intellectual property rights to the patent filing.
“With the FDA’s recent notice to proceed with a cannabinoid trial on Alzheimer’s patients, IGC will be focusing on preparing to conduct the Phase 1 trial for IGC-AD1 in its Puerto Rico medical facility…We are encouraged by these important steps toward our ultimate goal to assist in the management and treatment of this devastating disease.”Ram Mukunda, CEO, India Globalization Capital