Check These Biotech Penny Stocks Out For Your Watchlist Right Now
Finding the best biotech penny stocks to buy is all about understanding what catalysts are on the horizon. While most penny stocks are speculative, and therefore trade heavily on news and events, biotech stocks are especially so. This means that knowing what announcements, catalysts, and events are coming up, could help you to make money with penny stocks.
Now, it’s not enough to find an announcement and buy a stock hoping that it will go up. Rather, investors should have a thorough understanding of what the company does, what it plans to do, and what its financials look like. Knowing these factors about a business will help to take the guesswork out of buying and selling penny stocks.
In 2021, there are also a myriad of external factors to consider. This includes the rise of the Omicron variant, high inflation, and more. As a result of this, we are seeing a stock market that is more volatile than ever before. While this shouldn’t serve to incite fear, it should help to point out where the opportunities are to see profits. Considering all of this, let’s take a look at four biotech penny stocks to watch right now with upcoming catalysts.
4 Biotech Penny Stocks to Watch Right Now With Recent News
- Cocrystal Pharma Inc. (NASDAQ: COCP)
- Obseva SA (NASDAQ: OBSV)
- Eton Pharmaceuticals Inc. (NASDAQ: ETON)
- CTI BioPharma Corp. (NASDAQ: CTIC)
Cocrystal Pharma Inc. (NASDAQ: COCP)
Cocrystal Pharma is a pure-play biotech penny stock that we’ve discussed numerous times in the past few months. If you’re unfamiliar, COCP produces novel antiviral therapeutics for a variety of uses. One of the reasons behind its recent popularity comes as it has been working on replicating coronaviruses including SARS-CoV-2 for new therapies. Companies involved in the research and production of Covid-related compounds have seen understandably heightened attention in the past two years.
COCP Stock Catalysts
On December 2nd, Cocrystal announced that its President and interim CEO, Sam Lee, Ph.D., and CFO James Martin, will present a company overview at the Noble Markets Virtual Roadshow Series on December 8th. This presentation will be followed by a Q and A session.
“We are working diligently toward initiating clinical studies in 2022 with two promising COVID-19 protease inhibitors. Our antiviral inhibitors have shown broad-spectrum activity in vitro against COVID-19 and its variants, including the now predominant Delta variant.
We further intend to use our unique structure-based technology platform to demonstrate antiviral activity against newly emerging variants such as Omicron, which is more complex given its many mutations.”CEO of Cocrystal, Dr. Sam Lee
Considering this exciting update, it’s worth keeping an eye on COCP stock for your penny stocks watchlist.
Obseva SA (NASDAQ: OBSV)
Another pure-play biotech penny stock to watch right now is Obseva. Obseva is working on women’s health needs including the clinical development of several novel therapies.
With its strong pipeline, the company has several compounds that are in the development stage. These compounds could be put to use in ailments such as uterine fibroids, endometriosis, preterm labor, and more. While there are a handful of companies working on women’s health needs, it is still considered a largely underserved market. As a result, Obseva is a popular player in this area of the biotech industry.
OBSV Stock Catalysts
On December 2nd, Obseva announced a symposium and three presentations regarding its compound linzagolix, which is an oral GnRH antagonist. It will present the data at the 7th Society of Endometriosis and Uterine Disorders Congress which will be held virtually in Stockholm, Sweden on December 9th-11th.
The symposium is titled, “The potential of the oral GnRH antagonist: a personalized approach for women with uterine fibroids.” Presentations like these are important for investors to consider as they allow for renewed insight into what a company is doing. With that in mind, does OBSV stock deserve a spot on your list of penny stocks to watch?
Eton Pharmaceuticals Inc. (NASDAQ: ETON)
Eton Pharmaceuticals is another biotech stock that has been the focus of many investors in the past few weeks. Up 14% in the past five days and 3.4% by midday on December 8th, ETON stock could be worth keeping an eye on. The company works on the commercialization of treatments for a variety of rare diseases.
And, it currently has royalties from six different FDA-approved products. This includes Alkindi Sprinkle, carglumic acid, Biorphen, Alaway, Rezipres, and Eprontia. In addition, Eton has four other products that have been submitted to the FDA, where it is awaiting responses.
ETON Stock Catalysts
On November 15th, Eton Pharma announced its results for the third quarter of this year.
“Over the last month we have made tremendous advancements to our commercial portfolio. We gained two more FDA-approved products, EPRONTIA, and carglumic acid, both of which should launch in the fourth quarter, and we are increasing ALKINDI SPRINKLE’s commercial footprint more than ten-fold through an attractive co-promotion arrangement with Tolmar Pharmaceuticals.”The CEO of ETON, Sean Brynjelsen
Financially, the company reported revenue of around $0.8 million with R&D expenses coming in at $2.7 million. In addition, it reported a net loss of $6.1 million for the quarter. Lastly, the company ended the quarter with $22.7 million in cash and cash equivalents, which should help to fund it through the near future. With all of this in mind, will ETON stock be on your watchlist?
CTI BioPharma Corp. (NASDAQ: CTIC)
CTI BioPharma is currently commercializing a variety of novel therapies. This includes those put to use in treating blood-related cancers, which it states is a highly unmet clinical need. In addition, the company is currently in the development and commercialization stage of pacritinib, which is in the late stages of the dev process. Over the past five days, shares of CTIC stock have shot up by a sizable, 11%, despite a YTD drop of over 45%. In the past few trading days, we’ve seen a bullish trend begin to take hold with CTIC.
CTIC Stock Catalysts
At the end of last month, the company stated that the FDA has extended the review for its NDA or New Drug Application regarding pacritinib for treating adults with intermediate and high-risk post-polycythemia vera or post-essential thrombocythemia.
“CTI is continuing to engage collaboratively and constructively with the FDA during the review of our NDA. We are committed to providing patients suffering from cytopenic myelofibrosis with a new treatment option as soon as possible and are confident in pacritinib’s potential to establish a new standard of care.”Adam R. Craig, M.D., Ph.D., the President, and CEO of CTI Biopharma
This is exciting news and shows that CTIC is working hard to get this drug through the various stages of approval. Whether this makes CTIC stock worth buying or not is up to you.
Which Biotech Penny Stocks Are You Watching Right Now?
With so many biotech penny stocks to choose from, finding the best ones for your list can seem challenging at times. However, if we consider upcoming catalysts and industry-wide news, it can be much easier to find potential in certain biotech stocks. With all of that in mind, which biotech penny stocks are on your watchlist right now?
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