These Robinhood Biotech Penny Stocks Are Heating Up Right Now
Since the start of the pandemic, biotech penny stocks have been some of the most talked-about stocks in the market. And, there’s plenty of good reasons for this. For starters, when the pandemic began, the focus was understandably on companies that were producing either a vaccine candidate or a treatment for Covid-19. However, shortly after the volatility and potential of biotech penny stocks as a whole, shifted focus on the biotech industry and not just companies working on a Covid treatment.
So, here we are over a year and a half later. And, there are plenty of penny stocks in the biotech industry showing a great deal of potential. While there is a lot to keep track of right now, considering the market trajectory and what may make it move can help to put you ahead. With this in mind, let’s take a look at three biotech penny stocks on Robinhood to watch right now.
3 Robinhood Biotech Penny Stocks to Watch Right Now
- Sesen Bio Inc. (NASDAQ: SESN)
- Iterum Therapeutics plc (NASDAQ: ITRM)
- Jaguar Health Inc. (NASDAQ: JAGX)
Sesen Bio Inc. (NASDAQ: SESN)
Sesen Bio Inc. is a biotech penny stock that creates treatments for patients with cancer. It is involved in the design, engineering, development, and commercialization of this large range of biotech products. Many of Sesen Bio’s trials focus on targeted fusion protein therapeutics to treat patients. Its flagship product, Vicinium, is currently in Phase III clinical trials for bladder cancer. Bladder cancer is a very common and deadly cancer with not a great amount of viable treatments. And for this reason, Sesen Bio sees a large market opportunity here.
On July 26th, the company announced significant commercial progress as it nears the approval and launch of Vicineum in the United States. The company states that it’s hiring of U.S. sales reps for the product is 97% complete as of the 26th.
“We are thrilled to have this experienced commercial team on board at Sesen Bio to build capabilities as we approach the potential commercial launch of Vicineum in the US market. They have made incredible progress across the core functions of sales, marketing, and market access.”The Chief Commercial Officer of Sesen Bio, Patricia Drake
One day after this announcement, SESN stock is up by around 3% in the market. At the start of 2021, SESN stock was at $1.32 per share on average, and now, shares sit at just under $3.90 as of July 27th. This significant progress has interested a lot of investors and boosted Sesen’s popularity in the market. With this in mind, will SESN stock be on your watchlist next month?
Iterum Therapeutics plc (NASDAQ: ITRM)
Iterum Therapeutics plc is a biotech penny stock that climbed significantly in value on July 27th. Shares ended the day at a gain of over 17%, bringing it to a $0.74 closing price. For some context, the company develops anti-infectives for multi-drug resistant pathogens. Currently, Iterum is working on sulopenem, which is in Phase III clinical trials to treat urinary tract infections.
Big news dropped when Iterum received a response letter from the FDA for oral sulopenem on July 26th. ITRM stock understandably fell as the FDA did not approve the treatment.
“We are disappointed in this outcome and believe that the data package submitted was adequate for the approval of oral sulopenem. Regardless, we will evaluate the points raised in the CRL for discussion with the FDA to determine an expeditious path forward. We remain confident in the value of, and unmet medical need for, oral sulopenem to treat multi-drug resistant infections, including fast-growing quinolone non-susceptible pathogens.”The CEO of Iterum Therapeutics, Corey Fishman
While this news may seem disheartening, results like these can be expected at times. This is simply the result of the stringent process needed to get a drug approved in the U.S. It’s worth considering that the company’s volume is also much higher than its market average right now. This spike in volume shows that investors could still have faith in the future of both Iterum and sulopenem. Taking all of this into consideration, is ITRM stock worth watching right now?
Jaguar Health Inc. (NASDAQ: JAGX)
Jaguar Health Inc. is a biotech penny stock that we have discussed frequently in the past few months. The company focuses on products that aim to treat GI disorders in both people and animals. Its subsidiary, Napo Pharmaceuticals, is also developing plant-based gastrointestinal pharmaceuticals. Currently, Jaguar’s most prominent product is Mytesi, which is for the relief of noninfectious diarrhea in adults with HIV/AIDS.
And while it may seem like a small niche, the company has a large market for this product, and it is able to benefit a wide variety of patients. One of the aspects that Jaguar focuses on is the ability to provide medicines based on plants. As opposed to completely artificial pharmaceuticals, the company derives the majority of its products from plant-based compounds. This is an exciting field, and one that has gained traction in the past few years.
On Thursday, July 29th, the company will be airing its ‘Innovators with Jane King’ interview with Lisa Conte, the company’s founder, president, and CEO. This will be aired during its investor webcast, which will also provide business updates for Jaguar and Napo Pharmaceuticals Inc. The company also recently announced the closure of financing of Dragon SPAC for gross proceeds of about 8,830,000 euros as well.
Both the event and this recent update are exciting for investors to consider. They allow for an interesting insight into what the company is doing right now, and what it could do in the near future. So, keeping all of these advancements in mind, is JAGX stock worth adding to your list of penny stocks to watch?
Which Biotech Penny Stocks on Robinhood Are You Watching?
Finding the best biotech penny stocks to buy can be challenging. But, with Robinhood offering an easy-to-use platform, more investors than ever have access to buying and selling penny stocks.
With biotech, investors need to have a thorough understanding of what the company does and what products it is manufacturing or working on. With all of this in mind, which biotech penny stocks on Robinhood are you watching right now?