Penny Stocks With News Light Up The Scanners This Week

This week will likely be one of the most volatile for the overall market. But for anyone trading penny stocks, it’s just another week to try and capitalize on everyday price action. The FOMC meeting begins today with all eyes on tomorrow’s Fed statement, interest rate decision, and Fed Chair Jerome Powell’s press conference at 2:30 PM ET. Along the way, there are plenty of earnings reports to sift through and more economic data to comb over that will shed light on the actual state of the economy.

All of these have something in common, believe it or not. That common thread is they will all be released as news headlines that could act as catalysts for the stock market this week. Today we look at the news trend to identify some of the most active penny stocks. Once you see what has been released, you can decide if these companies deserve a place on your watch list heading into February.

penny stocks with news this week

Penny Stocks With News

Context Therapeutics Inc. (CNTX)

Context Therapeutics develops treatments for solid tumors. In particular, it focuses on female cancer indications. This week the company announced details on its clinical trial collaborator, Stemline Therapeutics, which received approval from the FDA for its ORSERDU postmenopausal treatment. According to Context CEO Martin Lehr, the candidate showed “improved efficacy” compared to the current standard of care and was dubbed a “watershed moment” for the industry. He also added, “ORSERDU has the potential to fundamentally change the treatment paradigm for patients with ESR1-mutated breast cancer, which is found in approximately 40% of the estimated 43,500 patients with metastatic hormone-driven breast cancer in the United States.”

3 Tips for Using Technical Indicators to Find Penny Stocks to Buy

Spectrum Pharmaceuticals (SPPI)

Another one of the biotech penny stocks to watch with news this week is Spectrum Pharmaceuticals. The company develops targeted oncology platforms and announced several business highlights, including preliminary net sales of its ROLVEDON platform. Among the key highlights of the update were comments from CEO Tom Riga:

“I am pleased with the early receptivity to ROLVEDON from our oncology customers in the first quarter of our launch…The commercial team is implementing our launch strategy and are committed to disciplined execution over time. The energy and enthusiasm within our company is high as we look to establish a strong launch trajectory with our novel product in this highly competitive, yet attractive market.”

Preliminary Q4 net sales also raised attention. The company expects roughly $10 million, while estimates were below $4 million.

Rent The Runway Inc. (RENT)

Popular fashion brand and “shared designer closet” company Rent The Runways continued its latest uptrend after releasing headlines this week. Shares of RENT stock have been climbing since early December as it reclaims losses from 2022. The company announced that it will restructure its corporate debt, including extending the maturity of its credit facility from October 2024 to October 2026. CEO Jennifer Hyman believes this extension paired with a reduction in cash interest is “transformative” to the company’s business strategy and that it puts it in a better position to “reach our growth and profitability goals.”

Intelligent Bio Solutions (INBS)

Shares of Intelligent Bio Solutions have been red hot this month thanks to headlines last week. The company announced that it reached a crucial milestone in developing its biosensor platform. In particular, Intelligent Bio Solutions completed the review of results from “MIlestone 7,” which it said was a phase of development that included testing time-to-result, sensitivity, and reproducibility. Results demonstrated a 4x improvement and allowed the biosensor to give test results in less than one minute.

This week, the momentum continues after the latest round of news. Intelligent Bio Solutions’s subsidiary, Intelligent Fingerprinting, will have its technology used in drug tests leveraging Intelligent’s fingerprint sweat-based tech platform. Hozelock, a global garden equipment manufacturer, is the company implementing these tests.

3 Hot Penny Stocks Under $1 To Watch For February 2023

Sonoma Pharmaceuticals (SNOA)

Shares of Sonoma Pharmaceuticals took flight this week thanks to partnership headlines. The company is developing and producing patented Microcyn products for various applications. These include nasal & oral care, wound care, eye care, and dermatology.

Along with Daewoong Pharmaceuticals, Sonoma entered a distribution agreement to market and distribute Primocyn Skin Solution products in South Korea. “Our Microcyn-powered Primocyn products have been sold in South Korea for years, and we look forward to this new partnership with Daewoong Pharmaceutical to open up new sales channels and increase sales of Primocyn in South Korea,” said Amy Trombly, CEO of Sonoma Pharmaceuticals.

The update comes days after Sonoma announced that the Defense Logistics Agency gave Microcyn Rx products a Distribution and Pricing Agreement. It will enable Sonoma’s partner, EMC Pharma, to enter distribution agreements for Microcyn Rx products with federal customers.

Silo Pharma Inc. (SILO)

Biotechnology company Silo Pharma specializes in psychedelic therapeutics. This week it announced a new stock repurchase program to buy back up to $1 million in SILO stock. “The current capital market conditions allow us to capture additional value for all shareholders through this measured buyback program. Our Board of Directors and executive management team remain committed to delivering value to our shareholders,” said Eric Weisblum, Chief Executive Officer.

The news comes a few weeks after Silo reported that it advanced a psilocybin study analyzing the impact on inflammation.

Hillstream Biopharma Inc. (HILS)

Shares of Hillstream Biopharma surged overnight. The cancer treatment company announced an exclusive options agreement with Dan-Farber Cancer Institute to license technology targeting MUC1-C oncoprotein. According to Hillstream, prolonged activation of this protein in specific settings can promote cancer. Randy Milby, CEO of Hillstream, explained, “This agreement allows Hillstream to leverage our Quatramer platform to advance anti-MUC1-C agents targeting CSCs for the treatment of highly aggressive tumors, which represents a major unmet need for patients.”

List Of Penny Stocks To Watch

  1. Context Therapeutics Inc. (NASDAQ: CNTX)
  2. Spectrum Pharmaceuticals (NASDAQ: SPPI)
  3. Rent The Runway Inc. (NASDAQ: RENT)
  4. Intelligent Bio Solutions (NASDAQ: INBS)
  5. Sonoma Pharmaceuticals (NASDAQ: SNOA)
  6. Silo Pharma Inc. (NASDAQ: SILO)
  7. Hillstream Biopharma Inc. (NASDAQ: HILS)

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

3 Penny Stocks To Watch Right Now After Big Corporate News

Top Penny Stocks To Watch After Recent News

IMC International Mining Corp. Enters Into $8 Million Equity Financing with Alumina Partners, LLC

VANCOUVER, BC / ACCESSWIRE / April 16, 2020 / IMC International Mining…