9 Biotech Penny Stocks For Your October Watchlist
Biotech penny stocks have remained some of the hottest small caps to buy over the past year and a half, and there are several good reasons for that. For one, the pandemic has highlighted both the importance of biotech and the potential that it can have. While this initially began as a focus on Covid-related biotech stocks, it continued to shift into a broader overall interest in the biotech industry.
So now with October only a week and a half away, investors continue to search for biotech companies that could be worth buying. And although it may seem too soon to begin making a penny stocks watchlist for October, it is always important to stay ahead. So, how do we know which biotech penny stocks are worth buying? Well, there are a few things to look for.
How to Pick a Biotech Penny Stock to Buy
The first aspect to look out for with a biotech stock may seem obvious, but it is often a step that many forget. That is, looking at what the company does and what products it has in its pipeline. While some companies have a large variety of either pharmaceuticals, medical tech products, or a combination of both, others focus on only one or two compounds or products.
With this, it is important to differentiate the two and explore the demand for the product itself. In addition, investors should have a thorough understanding of the timeline for the product in terms of approval, trials, and so on.
The next factor to consider is funding. Often, biotech companies will engage in large funding rounds to help with the cost-prohibitive nature of producing a pharmaceutical or medical device. This can be done through stock offerings, capital raising measures, and more.
But, it is extremely important to look at the company’s balance sheet to see how much cash it has on hand and what, if any, fundraising it has done. It’s worth noting that this is a continuation of Best Penny Stocks To Buy Right Now? 5 Biotech Stocks For Your List.” So, considering all of this, let’s take a look at four more biotech penny stocks to watch.
4 More Biotech Penny Stocks to Watch Right Now
- BIO-key International Inc. (NASDAQ: BKYI)
- Dare Bioscience Inc. (NASDAQ: DARE)
- iBio Inc. (NYSE: IBIO)
- Rewalk Robotics Ltd. (NASDAQ: RWLK)
BIO-key International Inc. (NASDAQ: BKYI)
One of the bigger gainers of the day so far is BKYI stock, pushing up by over 14% at midday. While trading for BIO-key has been mostly stable over the past year, shares have begun to spike in the past week or two.
Today’s gain is likely due to news released during pre-market on September 21st. The company stated that it has entered into a partnership with Intelisys Communications Inc., a ScanSource (NASDAQ: SCSC) company. The goal of this partnership is to create a Master Agent Referral Partner Program that will enhance BIO-key’s offerings.
“This is a great milestone for BIO-key as we continue to grow our channel program and ensure that we have geographic coverage in the top markets. We look forward to working together with Intelisys to help solve security and identity and access management challenges for the enterprise as we look to a safer future.”The Chief Revenue Officer of BIO-key, Fred Corsentino
Partnerships like this are always exciting for the company and investors alike. And while BIO-key may not be a pure-play biotech penny stock, it is working on biotechnology-related products. So, considering this advancement, will BKYI stock be on your penny stocks watchlist?
Dare Bioscience Inc. (NASDAQ: DARE)
Dare Bioscience Inc. is the next biotech penny stock on this list and one that is making solid headway right now. For some context, this company creates products for women’s health in the U.S. Currently, it produces products for contraception, fertility, sexual health, and other women’s health needs. One of its products is DARE-VVA1 which is for treating patients with hormone-receptor-positive breast cancer. Dare has many active clinical trials at the current moment which is a promising sign for investors.
Last month, Dare reported its second-quarter financial results and gave a company update. The company ended the quarter with $9.1 million in cash and cash equivalents. This is a sizable growth amount over its $4.7 million in cash posted on December 31st, 2020. The company’s net cash from financing activities also came in at a solid $24.6 million and included net proceeds from common stock sales.
“This has been, and continues to be, an incredibly productive year for Daré. Consistent with our guidance, we submitted our New Drug Application for DARE-BV1, a potential new first-line treatment for bacterial vaginosis, to the FDA in June. Our NDA was accepted for filing and received Priority Review with a PDUFA target date of December 7, 2021.”President and CEO of Dare Bioscience, Sabrina Martucci Johnson
Dare also recently participated in the H.C. Wainwright 23rd Annual Global Investment Conference. With all of this in mind, will DARE make your penny stock watchlist next month?
iBio Inc. (NYSE: IBIO)
iBio Inc. is a biotech company that offers contract development and manufacturing services. These services are provided to collaborators and third-party customers. Its main product is IBIO-100, which is for treating systemic scleroderma, idiopathic pulmonary fibrosis, and other related conditions.
The company caught recent attention with its IBIO-200 and IBIO-201 products, which are in preclinical stages for treating those with respiratory issues caused by COVID-19. As stated earlier, companies involved in curing or treating Covid have come into the public spotlight in the past year. And, this could be the reason for IBIO’s recent bullish momentum.
On July 15th, the company reported successful preclinical immunization studies with its next-gen nucleocapsid COVID-19 vaccine candidate. This preclinical study of IBIO-202 demonstrated a robust, antigen-specific memory T-cell response according to the company. It will be interesting to see how IBIO-202 continues to develop in the coming months.
“Accordingly, we believe the N protein strategy of IBIO-202 may be complementary with existing S-directed vaccines, conferring additional protective effects that more closely mimic the natural immune responses of patients that have cleared the virus.”The CSO of iBio, Martin Brenner
Now the company will provide another corporate update, and report its financial results on September 27th, which is a date to consider if you’re interested in iBio. With this to note, is IBIO stock a contender for your September penny stocks watchlist?
Rewalk Robotics Ltd. (NASDAQ: RWLK)
Another major gainer of the day on September 21st is RWLK stock, pushing up by over 66% at midday. This brings its one-year gain to almost 80%. At just under $2.20 per share, the price of RWLK stock is still nowhere near its February high of over $5.20, but investors are showing bullish momentum in the company right now.
While no news is causing today’s gain, RWLK seems to be the latest small-cap to be driven up due to short-squeeze momentum. This is the result of retail traders bringing RWLK into ‘meme stock’ territory. It’s worth noting that stocks in this category are highly volatile and should be viewed with a grain of salt. However, gains like these do occur from time to time with penny stocks. This means that RWLK stock could be worth watching right now.
For some context, Rewalk is a producer of wearable robotic exoskeletons for those with disabilities. In its most recent balance sheet from Q2 2021, the company posted a strong cash position of almost $65 million. In addition, it brought in $1.4 million in revenue in the second quarter, which is quite respectable. So, whether RWLK stock is worth adding to your list of penny stocks to watch is up to you.
Which Biotech Penny Stocks Are You Watching Right Now?
Finding the best biotech penny stocks to buy is all about understanding where to look. If we use all of the research tools that are available to us, it can be much easier to create a watchlist that allows you to make money with penny stocks.
But, it does take time, and investors should commit to finding out as much information as possible about the companies on their lists. Considering all of this, which biotech penny stocks are you watching right now?
To read about the other penny stocks on this list, head to Best Penny Stocks To Buy Right Now? 5 Biotech Stocks For Your List