Penny Stocks To Watch Before July
The markets were smacked last week, which took many stocks lower. But for penny stocks, it was a much different story. If you’re new to this world of lower-priced stocks, you’ll likely be familiar with this trend. Even with the S&P, Dow, and Nasdaq taking it on the chin, there were still plenty of penny stocks to watch surging higher. In fact, some of the biggest gainers on the day were cheap stocks that started out trading under $5.
What should you watch in the week ahead? Well, if you’re looking for industry trends to follow, biotech might be something to focus on. The NASDAQ Biotech ETF (NASDAQ: IBB) and the S&P Biotech ETF (NYSE: XBI) were trading higher during Monday’s pre-market session. Obviously, sector strength is something that helps traders identify potential. While not all penny stocks in a certain industry or sector will follow the trend, there’s likely to be at least a few that will. This article will take a closer look at some current and former biotech penny stocks to watch this month.
Robinhood Penny Stocks To Watch
Thanks to growing interest from the retail community, apps like Robinhood and Webull have become well-known. One of the downsides (at least for some users) is that the apps restrict access to almost all OTC penny stocks. Sure, there are a few exceptions. For the most part, the choices are limited to NASDAQ & NYSE listed names. This is what we’ll focus on in today’s update:
- GT Biopharma Inc. (NASDAQ: GTBP)
- Auris Medical Holding Ltd. (NASDAQ: EARS)
- Sesen Bio Inc. (NASDAQ: SESN)
- Atossa Therapeutics Inc. (NASDAQ: ATOS)
- Anavex Life Sciences Corp. (NASDAQ: AVXL)
- Opko Health Inc. (NASDAQ: OPK)
- Ocugen Inc. (NASDAQ: OCGN)
Penny Stocks On Robinhood To Watch #1: GT Biopharma Inc. (NASDAQ: GTBP)
GT Biopharma has been on our list of penny stocks to watch for months. The core focus of the market & analysts centers on its novel treatment pipeline built on its TriKE technology platform. The company’s solid tumor TriKEs target cancers expressing HER2 (GTB-6550), PD-L1 (GTB-4550), and B7H3 (GTB-5550). Multiple treatments will be evaluated in breast, lung, gastric, colorectal, and ovarian cancer indications. Their lead treatment candidate, GTB-3550, is in Phase 1/2 trials targeting acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).
This week could be an important one for the company. Monday morning GT Biopharma announced that the company’s Consulting Chief Scientific Officer, Dr. Jeffrey S. Miller, will update the progress of the GTB-3550 TriKE™ Phase I trial accompanying the company’s corporate update presentation. This all happens Tuesday’s Raymond James Human Health Innovation Conference. In light of these previous and upcoming developments, it will be interesting to see how the market reacts to Dr. Miller’s update on June 22.
2. Auris Medical Holding Ltd. (NASDAQ: EARS)
Auris is another one of the biotech penny stocks to watch right now. This week the company announced the publication of favorable results in an in vivo study utilizing its OligoPhoreTM technology in Adult T-cell Leukemia Lymphoma. The data showed the there was “significant inhibition” of tumor growth.
Auris focuses on developing treatments that use RNA therapeutics. Samuel Wickline, MD, Auris Medical’s Chief Scientific Officer, explained that “Since ATLL is a highly malignant tumor with no targeted molecular therapy at present, this outcome is not only very encouraging for drug discovery and development in this therapeutic indication, but also for other tumors and inflammatory pathological conditions involving the NF-κB molecular target.”
3. Sesen Bio Inc. (NASDAQ: SESN)
Sesen has had a great year in 2021. Since early January, shares of SESN stock have surged more than 200%. Its Vicineum™ treatment has become a big focus this month. Back in February, the FDA had accepted a filing of a Biologics License Application for using the treatment in patients with BCG-unresponsive non-muscle invasive bladder cancer. It received a Priority Review of the application with a target Prescription Drug User Fee Act date of August 18, 2021.
Earlier this month, the company entered into a global supply agreement for Vicineum™ with Sesen’s partner in China, Qilu Pharmaceutical. Qilu will be part of the manufacturing network for the global commercial supply of Vicineum. With active initiatives for global commercialization and this upcoming PDUFA date in August, SESN could be one of the biotech penny stocks to watch right now.
4. Atossa Therapeutics Inc. (NASDAQ: ATOS)
It’s funny to think that earlier this year, ATOS was trading under $1, and now it’s well above the $5, penny stocks threshold. Earlier this month, the biotech company received approval from the Swedish regulators to begin a phase 2 clinical study. This study will focus on the company’s orally administered Endoxifen for reducing mammographic breast density.
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The study’s primary objective is to identify a dose-response relationship of daily oral Endoxifen on mammographic breast density reduction. Secondary endpoints will evaluate safety and tolerability. Earlier this month, Atossa revealed data from a Phase 2 Endoxifen study in breast cancer. It met primary and secondary endpoints. The Phase 2 study was conducted on behalf of Atossa by Avance Clinical, a leading Australian CRO. Based on the results, the company also discussed its plan to apply to the FDA for approval to begin a clinical study in the US “as soon as possible.”
With meaningful results and potential for more clinical trials in the US, ATOS could be on the list of biotech penny stocks on Robinhood to watch this summer.
5. Anavex Life Sciences Corp. (NASDAQ: AVXL)
Similar to Atossa, Anavex has surged in 2021. At the start of the fourth quarter last year, shares of AVXL stock were trading below $4.50 and even dropped as low as $3.65 in September. Needless to say, progress was made. Retail appeal has remained a driving force to AVXL stock’s latest bout of bullishness.
The company’s ANAVEX®2-73 is the lynchpin to the budding market interest. This is Anavex’s treatment candidate for things like Alzheimer’s and Parkinson’s diseases. It has also been used to treat adult patients with Rett syndrome. This week the company reported new developments in its placebo-controlled trial of ANAVEX®2-73 in adult female patients with Rett syndrome. Walter E. Kaufmann, MD, Principal Investigator and Chief Medical Officer of Anavex, said, “The outcome of this trial is very promising in terms of both safety and clinical improvement. Despite the challenges of the older age of the cohort (patients were on average 24 years of age) and the relatively low dose (5 mg daily), ANAVEX®2-73 demonstrated clinically meaningful improvements in outcome measures evaluating multiple impairments, which are supported by correlations with objective biomarkers.”
Considering no FDA-approved drugs exist for Rett syndrome, this could be a key highlight for Anavex right now.
6. Opko Health Inc. (NASDAQ: OPK)
One of the popular penny stocks that continues seeing insider activity is Opko Health. While the overall trend has been sideways for the last few weeks, it hasn’t taken away from the company’s latest developments. This week Opko announced that it entered into an agreement with Nicoya Macau Limited to develop and commercialize Opko’s RAYALDEE treatment in Greater China. RAYALDEE treats secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease.
According to the latest release, “Nicoya will make an upfront payment to OPKO of $5 million and an additional $5 million payment will be made during the first 12 months of the agreement or upon Nicoya achieving a certain predetermined development milestone. In addition, OPKO will be eligible to receive up to $115 million upon the achievement of certain development, regulatory and sales-based milestones.”
What’s more, the latest developments made by Opko have attracted attention from the analyst community. The latest firm to start following the company is Ladenburg Thalmann. The company started OPK stock with a Buy rating and gave a $7 price target.
7. Ocugen Inc. (NASDAQ: OCGN)
Somewhat of a meme stock, Ocugen has experienced a volatile year. Much of the attention has focused on its proposed COVID treatment, COVAXIN. This treatment’s development is in collaboration with the Indian Council of Medical Research. COVAXIN has already established a track record of more than 300 million doses supplied so far. It has emergency use authorizations in 13 countries right now.
The current target right now for Ocugen is getting into the U.S. and Canada. Last week the company announced that it had selected Jubilant HollisterStier of Spokane, Washington as its manufacturing partner for COVAXIN™. This was in preparation for potential commercial manufacturing of COVAXIN™ for these markets.
J.P. Gabriel, Ocugen’s Senior Vice President, Manufacturing and Supply Chain, said, “Securing US-based manufacturing capability is a critical step as we prepare to submit our regulatory submissions to the FDA and Health Canada. Based on Bharat Biotech’s strong track record of developing and commercializing vaccines globally and Jubilant’s proven track record in manufacturing, we are well-prepared to transition US manufacturing of COVAXIN to our new partner.”
Biotech Penny Stocks Showing Strength In June
Despite the overall market trends, certain sectors and industries have emerged as winners. While ETFs like the S&P’s SPY or Nasdaq’s QQQ saw declines over the last few days, biotech has weathered the recent sell-off. Will this trend persist? Time will tell. However, with current strength being evident, stocks with exposure to this trend could be top names to watch before the end of the month.