Are These Penny Stocks On Your List Right Now?
In this article, we will take a look at 4 penny stocks with upcoming events very soon. How do we know this? One of the great things about certain industries is that companies will pre-announced key dates well in advance. Biotech companies are well-known for doing this.
Now, I’m not talking about earnings dates. That’s something almost all companies will do ahead of time. In the case of biotech penny stocks, they’ll release news that sometime in the future (either a date or period of the year), they’ll do “something.” That “something” could be reporting key trial data, an important FDA date like a Prescription Drug User Fee Act (PDUFA), or countless other potential milestones involving treatment pipelines. But it isn’t solely restricted to penny stocks. The biotech industry as a whole is accustomed to doing this.
For instance, are you looking for the next potential date where COVID vaccines could be a topic of discussion? There are no guarantees; however, with the FDA Advisory committee meeting in open sessions to discuss the Pfizer (NYSE:PFE)/ BioNTech (NASDAQ:BNTX) supplemental Biologics Application for a third dose, next week, it could be a topic of discussion.
We know about this because it was posted by the FDA earlier this month. There are plenty of instances of this, and today we’ll take a look at 5 companies that all have events coming up next week. Will they be on your watch list?
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EFTR Stock Prompts Focus On Biotech Penny Stocks
It isn’t just upcoming events shedding light on small-cap biotech stocks today. Shares of recently public eFFECTOR Therapeutics (NASDAQ:EFTR) made an explosive move this week. How explosive? EFTR stock has now managed to jump from under $9 to over $40. Sure, it isn’t a penny stock, but a 350%+ move is clearly uncommon among “normal stocks,” but when you’re talking about “penny stocks,” it’s certainly more of a norm. Thanks to this surge, traders have begun looking for sympathy trends in the biotech space.
What does eFFECTOR Therapeutics do? The company went public via SPAC earlier this year via Locust Walk Acquisition Corp. (F/k/a LWAC). eFFFECTOR develops translation regulation inhibitors for treating cancer. Since going public, the company hasn’t released much news. But we do know from earlier releases that it’s focusing on several clinical milestones.
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Topline data from a Phase 2b trial of its tomivorsertib combined with pembrolizumab (KEYTRUDA) in non-small cell lung cancer is expected. The company said it also plans to initiate “multiple” Phase 2a expansion cohorts for its zotatifin for breast cancer and NSCLC during the second half of this year. So with speculative trading helping fuel small-cap biotech stocks like EFTR, it might be prudent to look at some companies also expecting potential milestones in the near term.
Biotech Penny Stocks To Watch
- Hepion Pharmaceuticals (NASDAQ:HEPA)
- Nymox Pharmaceutical (NASDAQ:NYMX)
- Leap Therapeutics (NASDAQ:LPTX)
- Verastem Inc. (NASDAQ:VSTM)
Hepion Pharmaceuticals (NASDAQ:HEPA)
First, on this list of biotech penny stocks, Hepion Pharmaceuticals hasn’t necessarily announced a formal date. However, Back in July, the company released news alluding to “near-term data.” Specifically, Hepion announced positive topline data from a Phase 2a non-alcoholic steatohepatitis (NASH) trial in its CRV431 treatment candidate. All primary end-points of the trial were met, which helped boost sentiment in the market.
The key point of focus that may be a source of speculation right now could have something to do with management commentary in that PR. Robert Foster, PharmD, Ph.D., Hepion’s CEO, said, “The current findings support this potential, and we will continue to analyze additional incoming data from this trial which should allow us to better understand CRV431. We expect this additional data from the AMBITION trial in the near-term and will report it once we complete our analyses.”
The company hasn’t announced any further developments since then. However, silence may be a possible reason for new speculative activity becoming a factor. Other than that, a Proxy statement was filed earlier this week outlining topics of a shareholder vote coming up in October. Regardless, momentum has come into HEPA stock this week.
Nymox Pharmaceutical (NASDAQ:NYMX)
One of the companies that have announced a formal date is Nymox. In this case, the company specializes in products targeted for the unmet needs of the gain male population. Its lead drug candidate, Fexapotide Triflutate, is being developed for benign prostatic hyperplasia. The company has completed Phase 3 development in more than 70 clinical centers in the US, involving over 1,700 patients during the program.
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Earlier this year, Nymox announced that September would be an important month for the company. In particular, it said it would be filing for marketing approval of Fexapotide Triflutate on or before September 15th. Considering that no major updates have been released since then, the clock is ticking. Marketing approval would be the next step to marketing & selling its candidate. Given that we know more or less the timing of this next potential milestone, it will be interesting to see how the market reacts as September 15th quickly approaches.
Leap Therapeutics (NASDAQ:LPTX)
While the last few weeks haven’t been stellar for LPTX stock, the company could be in focus heading into next week. Leap develops targets immuno-oncology therapeutics and will be presenting data next week. In July, Leap announced that it would present initial data from its Phase 2a DisTinGuish study evaluating its DKN-01 combined with tislelizumab from BeiGene in patients with gastric or gastroesophageal junction cancer. This will be presented on the 16th at the European Society for Medical Oncology (ESMO) Congress.
In addition to this, Leap also participates in two additional investment conferences next week. On September 15th, CEO Douglas E. Onsi will be at the HC Wainwright Global Investment Conference. He will then participate at Baird’s Global Healthcare Conference on the 15th, leading to the ESMO presentation. With a busy week ahead, LPTX stock could be one traders watch right now.
Verastem Inc. (NASDAQ:VSTM)
Rounding out the list of penny stocks is Verastem. The company will also present data coming up next week. Not only that, but through the end of September, the company also attends a few investor conferences. First, late last month, the company announced that it would present results from a Phase 1/2 FRAM study in low-grade serous ovarian cancer at ESMO on September 19th. The company’s VS-6766 combined with defactinib received Breakthrough Therapy designation in treating LGSOC earlier this year.
While that isn’t until much later in the week, Verastem will present at the HC Wainwright Global Investment Conference on September 13th. Following the ESMO presentation, company management also presents at Cantor’s Global Healthcare Conference on September 27th. Like Leap, with a busy month ahead, VSTM stock could be one of the penny stocks to watch this month.
Are Penny Stocks On Your List Right Now?
Penny stocks are definitely risky. But with that risk comes the potential for big rewards. Just look at eFFECTOR Therapeutics today. While it wasn’t a penny stock, the excitement in biotech is clearly evident with its 2-day 351% move so far. Given the many of these companies listed in this article have upcoming events and that the sector is heating up, will any of these be on your list headed into next week?