Are These Biotech Penny Stocks On Your List Right Now?
Are you looking for top biotech penny stocks after seeing Moderna stock skyrocket this week? Shares of MRNA stock jumped over 10% in a single day. However, the sympathy trade is what others were looking at. What I’m talking about are companies with some relation to the results that Moderna (MRNA Stock Report) reported.
It might’ve had something to do with optimism on economic recovery or it might’ve been something dealing with coronavirus more specifically. One thing that I can say, however, is that biotech stocks are among the hot tickets in the stock market today.
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Whether it’s a vaccine stock or even some of the cancer stocks, countless names across the sector surged. Moderna’s coronavirus vaccine is the second this month to show promising results. With that, traders are speculating on a quicker economic recovery than initially thought. However, let me remind you that just because early results are positive, it doesn’t mean we’re out of the woods yet. In fact, certain states and cities across the country are still pondering the idea of a more strict policy when it comes to things like social distancing.
Penny Stocks Continue Covid-Fueled Rally Amid More Restrictions
Philly is the latest to reinstate indoor dining bans in the city. Officials announced on Monday that they would roll back the decision on allowing customers to eat inside of restaurants. This becomes effective on Friday. Meanwhile, New Jersey has implemented new restrictions limiting indoor gatherings of more than 10 people and outdoor gatherings of more than 100. This was slashed from the previous 25 and 500 respectively.
Even with this as the case, top brass in healthcare are optimistic.
Whether these newest restrictions are short-term or not, the idea that there are numerous potential vaccines showing promise is, well, promising. Moderna said on Monday that its vaccine appears to be more than 94% effective according to preliminary data. Just last week, Pfizer’s COVID-19 vaccine had shown a 90% effective rate in early results. With this in mind, will biotech stocks soon become the hot penny stocks to watch this month?
Biotech Penny Stocks To Watch
- GT Biopharma Inc. (GTBP Stock Report)
- MannKind Corporation (MNKD Stock Report)
- Outlook Therapeutics Inc. (OTLK Stock Report)
- 9 Meters Biopharma Inc. (NMTR Stock Report)
- Selecta Biosciences Inc. (SELB Stock Report)
Biotech Penny Stocks To Watch #1: GT Biopharma Inc.
GT Biopharma has taken a place on the list of biotech penny stocks to watch in November. The company gained acclaim after reporting a favorable Dose Level 3 result from a patient in its Phase I/II trial of GTB-3550 for acute myeloid leukemia. The company’s TriKE platform 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.
While GTB-3550’s interim results are set for presentation at the upcoming ASH conference in December, TriKE continues making new advancements of its own. Earlier this quarter, GT Biopharma announced a partnership agreement with Cytovance® Biologics, a USA-based contract development and manufacturing organization. Under the terms of the partnership agreement, Cytovance will be the exclusive GMP manufacture for three of GT’s TriKE™ therapeutic product candidates.
Cytovance will manufacture TriKE™ using its proprietary Keystone® bacterial or mammalian expression systems. What’s more, GT Biopharma further expanded on the applications of TriKE. Findings presented that have TriKE targeting a B7H3 protein indicated 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 #2: MannKind Corporation
MannKind Corp. is one of the most popular biotech penny stocks at the moment. After IPO’ing in 2004, the company has since seen great critical appeal for its inhaled insulin substance known as Afrezza. For some context, the global insulin market is worth as much as $25 billion per year. In addition, cases of diabetes are continuing to rise at high levels. Traditionally, insulin is taken into the body via an injection. Those with diabetes often have to give themselves several injections per day. With the advent of insulin that can be inhaled, those suffering from diabetes could see their illness become a lot easier to treat.
In the past few months, positive data has continued to come out regarding Afrezza. In both Type 1 and Type 2 diabetes, Afrezza is able to swiftly lower blood sugar levels in the body. If the data continues to be positive, MannKind Corp. could capitalize on an incredibly large industry. In the past month, shares have shot up by around 41%. In the past six months however, shares are up by over 120%. If we consider the potential market size for MannKind to capitalize upon, it looks like MNKD stock could continue to be a penny stock to watch.
Biotech Penny Stocks To Watch #3: Outlook Therapeutics Inc.
Outlook Therapeutics Inc. is a clinical-stage biopharmaceutical company that is working on several unique compounds. The company states that its drug known as ONS-2010 or Lytenava, is the first FDA approved ophthalmic formulation of bevacizumab for use in retinal applications. This means that the drug can be used to treat several conditions regarding eye deterioration.
If the drug gains approval, the company has stated that it will commercialize it as soon as possible so that it becomes available to the wider market. The company also states that this substance can be used in a broad range of markets including the U.S., Japan, the U.K., Europe and more. Recently, the company announced that it has issued $10.2 million in an unsecured promissory note. The goal with these funds is to pay off its existing debt as well as to use for new capital expenditures.
Lawrence Kenyon, CEO of Outlook stated that “this non-dilutive funding provides us with additional flexibility as we continue to make great progress in advancing ONS-5010/Lytenava towards our planned Biologics License Application for wet AMD BLA in the second half of 2021. With all of our planned clinical trials for a wet AMD BLA now complete or fully enrolled, we are intensely focusing on advancing ONS-5010 towards pivotal data readout in mid-2021.” In the past month, shares of OTLK stock are up by almost 37%.
Biotech Penny Stocks To Watch #4: 9 Meters Biopharma Inc.
9Meters Biopharma Inc. is another clinical-stage biotech company working on several drugs that can treat intestinal disorders. The company’s pipeline includes celiac disease treatments as well as other similar disorders.
On November 16th, the company announced its preliminary results for the substance NM-102 in collaboration with Gustave Roussy. Patrick Griffin, chief medical officer of 9 Meters Biopharma states that “we are pleased to show through this collaboration how our novel peptide, NM-102, can fit within the complex interactions of the gut microbiome and immunosurveillance. We intend to continue to advance research in this space to better understand this promising area of immunomodulation via the gut.”
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Additionally, earlier in November, the company announced very solid Q3 2020 results for the period ending on September 30th. In the past month, shares of NMTR stock have shot up by almost 20%. In the past six months, shares of the company are up by almost 50%. With this momentum in mind, 9 Meters Biopharma looks like it could have a bright trajectory ahead. For this reason, investors could consider it to be a penny stock to watch right now.
Biotech Penny Stocks To Watch #5: Selecta Biosciences Inc.
Selecta Biosciences Inc. has remained one of the top biotech penny stocks to watch recently. In fact, since the beginning of the 4th quarter, SELB stock has rallied as much as 143%. This came as SELB reached highs of $3.80 late last month.
The company’s flagship drug, SEL-212 utilizes Selecta’s ImmTOR immune tolerance platform for treating chronic refractory gout. In the last earnings update, Carsten Brunn, Ph.D., President and CEO of Selecta explained that the company “reported topline data from the Phase 2 COMPARE trial of SEL-212 which demonstrated the potential” of the ImmTOR platform.
“We commenced the Phase 3 DISSOLVE program in partnership with Sobi. We look forward to continuing to build our pipeline with our gene therapy programs in MMA and OTC deficiency, and our second enzyme program in IgA nephropathy. Our strategy is focused on leveraging ImmTOR to amplify the efficacy of biologic therapies and restore self-tolerance in autoimmune diseases.”
This week could prove an interesting one for the company. Selecta’s set to deliver several presentations. The first comes Tuesday at Jefferies Virtual London Healthcare Conference. The Stifel 2020 Virtual Healthcare Conference follows, on Wednesday.