best penny stocks to watch biotech coronavirus cancer

Cancer Stocks Are Surging This Week

Cancer penny stocks took off this week thanks to a little help from one of the small caps making headlines. This morning, Greenwich LifeSciences (GLSI Stock Report) announced big news on its cancer treatment candidate. A poster presentation of a 5-year data set for its GP2 therapy in its Phase 2b trial showed a 0% recurrence of breast cancer among its cohort. Breast cancer is one of the cancers frequently experiencing recurrence (1 in 8) with 50% no responding to certain standards of care.

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Fast-forward just a few hours and GLSI stock ended up climbing as high as $158.07, up 883% from the opening bell and more than 3,000% higher than Tuesday’s low. Due to the explosive nature of this move, we’ve seen some interesting trends appear. First, we’ve seen plenty of cancer penny stocks breakout big in sympathy with GLSI.

Cancer Penny Stocks Gain Momentum After Greenwich LifeSciences Headlines

Furthermore, we’ve found that penny stocks with lower floats have caught some attention as well. It’s important to remember that if any of these are catching your eye right now, do your research. Understand what else is going on after the “hype phase” dies down. Are there specific fundamentals that could justify a further move down the road? Or is there hype and hype-alone?

This doesn’t go for biotech penny stocks or cancer stocks as a stand-alone. This goes for plenty of other sectors. We saw the trend that triggered a massive spike in electric vehicle penny stocks. That trend has lasted for a while. While some of the hyped-up names have fallen by the wayside, others have capitalized on the surge. Many have raised funds to contribute to operations while others have boosted their frequency of news and filings to show potential investors. With all of this in mind, let’s take a look at a few cancer stocks to watch heading into the second half of the week.

Cancer Penny Stocks To Watch: Celsion Corporation

Celsion Corporation (CLSN Stock Report) has been a steady climber for the better part of the last month. In fact, since November 9th, shares have climbed as much as 60% after today’s $0.7499 highs. CLSN stock got a nice boost late in the afternoon thanks to momentum across many cancer stocks. Shares were trading around $0.60 around 2 PM EST. However, by the end of the day, the stock ran to nearly $0.75 and continued even higher after the market closed.

What does Celsion actually do? When you think of cancer stocks, there are plenty of things to consider. The addressable market; is it niche or broad? As well as the met or unmet needs for patients. No matter what, however, there are plenty of things that go into developing a treatment. Its GEN-I treatment is immunotherapy being developed for treating ovarian cancer. Right now, GEN-I is in a Phase II OVATION study.

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The company also has a treatment candidate called ThermoDox. It’s a heat-activated treatment currently in Phase 3 development treating hepatocellular carcinoma (primary liver cancer). As far as upcoming events to note, the company currently is examining data from a prior OPTIMA study for ThermoDox. The company expects finding from independent analyses before the end of the year. It will guide the company to continue following patients into a final analysis period.

cancer penny stocks to watch Celsion Corporation (CLSN stock chart)

Cancer Penny Stocks To Watch: Qualigen Therapeutics Inc.

Another one of the cancer penny stocks to watch is Qualigen Therapeutics Inc. (QLGN Stock Report). The company’s lead compound, AS1411 is a drug candidate for treating COVID-19. While this is the current flavor of the year, Qualigen’s main platform has focused on cancer, in addition to infectious diseases. Its AS1411-GNP is also a cancer drug candidate with the potential to target myriad cancers. While this may not be the current focus, it does show the multiple indications that immune treatments can have.

This month, for instance, the company completed its recertification of AS1411 for use in upcoming clinical trials for treating COVID-19. The company seeks to get the FDA to approve it in order to begin trials in the first half of next year. So, whether or not the “cancer stocks” trend continues pushing momentum for QLGN is something we’ll have to wait and watch for this week.

cancer penny stocks to watch Qualigen Therapeutics (QLGN stock chart)

Cancer Penny Stocks To Watch: Immutep Ltd.

While many of the cancer stocks on this list have moved in sympathy with the likes of GLSI, Immutep Ltd. (IMMP Stock Report) has a potential catalyst. IMMP stock caught a big surge of action after the market closed. The company reported strong first overall survival, follow-up data from its ongoing Phase IIb AIPAC study. It’s evaluating the company’s eftilagimod alpha combined with paclitaxel chemotherapy against a combination of placebo and paclitaxel chemotherapy. Coincidentally this drug is also targeting breast cancer. Considering GLSI stock traded hugely on breast cancer headlines, it’s no wonder that IMMP has mimicked the same voracity that many of the other cancer stocks showed today.

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The data were selected for inclusion and presentation at the San Antonio Breast Cancer Symposium at the end of this week. While final data isn’t expected until mid-next year, it would seem, for now, cancer stocks are the hot names to pay attention to.

“AIPAC marks an important milestone for Immutep and builds our confidence that efti is beneficial for many cancer patients, including those with metastatic breast cancer. We are very encouraged by these first OS results which, subject to ongoing data collection, warrant a registrational perspective and regulatory interactions towards what we hope will be an important new class of medicines.”

Marc Voigt, Immutep CEO
cancer penny stocks to watch Immutep Ltd (IMMP stock chart)

Cancer Penny Stocks to Watch: Veru Inc.

Veru Inc. (VERU Stock Report) produces treatments for various types of cancer. This includes drugs that are used in both urology and oncology. On December 9th, Veru Inc. posted around 24% in gains by EOD. It also continued trading well after the closing bell. The main driver for this came with a solid Q4 2020 earnings report. In the report, the company posted a revenue gain of around 34% year over year to $11,749,000. This beat out analyst expectations by north of $1 million. Additionally, the company posted an EPS gain of 160% year over year. This represents around $0.03 EPS.

CEO of Veru Inc., Mitchell Steiner, stated that “we have made several important and exciting announcements this morning. It’s been a busy quarter. We actually released two separate press releases this morning: our earnings release and an update on our oncology drug pipeline.”

The company also posted around $600,000 in adjusted operating losses. In addition, Veru stated that it sold its PREBOOST business for around $20 million, adding a great deal of cash to its balance sheet. Something else to consider with Veru is its late-stage onocology pipeline. Of note is a late-breaking headline on Wednesday. Veru secured a worldwide license to a treatment candidate for endocrine-resistant metastatic breast cancer. This drug is in Phase 3 clinical trials and likely something that traders could pay close attention to in light of the Greenwich headlines this week.

cancer penny stocks to watch Veru Inc. (VERU stock chart)

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