When searching for penny stocks to buy or watch, it’s important to focus on catalysts. Penny stocks, which are stocks priced under $5 per share, often attract small and new investors. However, investing in these stocks comes with inherent risks. So it’s crucial to stay informed on current events and developments to make well-informed decisions.

Key economic news can significantly influence the stock market. That’s why it’s important to monitor financial indicators like GDP, employment, inflation, and interest rates. These indicators provide insights into the economy’s current status and help predict future trends. This allows investors to better understand the economic landscape surrounding budget-friendly stocks.

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Regarding cheap stocks, company-specific news can serve as the primary catalyst. Information about earnings, mergers, acquisitions, or product launches can dramatically impact a company’s valuation. Positive news, such as robust earnings, can drive stock prices up, while negative information, such as poor earnings or legal issues, can cause prices to plummet.

As an investor, it’s important to assess the credibility of news sources before making any investment decisions. Some sources may have ulterior motives, such as promoting favorable data for a specific company. Therefore, carefully evaluate a source’s trustworthiness before relying on it for decision-making.

This article examines several cheap stocks with significant news that has captured the stock market’s attention this week. Once you see some catalysts in play, you can decide if any deserve a place on your list of penny stocks to watch this week.

Penny Stocks To Watch

ReShape Lifesciences (RSLS)

You might be looking for RSLS stock news right now and beginning to question why it’s on this list. There aren’t any major headlines from the company, and the last update came at the end of March. However, those who look beyond basic press release wires may see what has prompted some attention in the stock market today.

ReShape Lifesciences is developing physician-led weight loss and metabolic health solutions. Its FDA-approved Lap-Band system offers a minimally invasive obesity treatment as an alternative to more invasive options such as gastric bypass surgery. This week, RSLS stock popped after the US Patent and Trademark Office published a Notice of Allowance for ReShape’s US patent application 16/792,094 titled “INTRAGASTRIC DEVICE (FOR THE TREATMENT OF OBESITY).”

It was initially submitted by Obalon Therapeutics, which merged with ReShape in 2021. Since this Notice of Allowance is currently only on the USPTO site, it may not have been widely digested by the public thus far. Since the patent could relate directly to the company’s product portfolio, RSLS stock has gained some speculative momentum. As this develops, we will continue reporting any new findings.

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MGO Global Inc. (MGOL)

Shares of MGO Global continued rebounding in the stock market today. The company’s business revolves around operating The Messi Store, which offers functional casual sportswear inspired by soccer player Leo Messi.

Prompting the latest move seems to be the company’s recent earnings update. MGO announced 2022 year-end financial results this week, posting revenue s of over $1 million, equating to a 19% increase over 2021. Gross profit margins also increased from 55% to 68%. Maximiliano Ojeda, Co-Founder, Chairman, and CEO of MGO, stated, “Through the process of creating the collections that now define The Messi Store and development of our tech-powered DTC brand-building platform, we believe we are now poised and ready to begin accelerating growth of our business through expansion of our portfolio of brands and through expansion of the unique brands we create, license or acquire.”

The company also explained that 2023 could be a “watershed year” based on its growth objectives. In this sense, it may also be worth noting a March 8-K that was filed.

On March 13, 2023, MGO Global Inc. gained access to a royalty-free, worldwide, and exclusive license to the use of certain assets of Stand Co., LLC. According to the filing, it is for assets that “include all rights to all stock keeping units of Stand sold under the names: “Roosevelt Premium 25ft Telescoping Flag Pole Kit,” “20FT Telescoping Flag Pole Kit” and “LED Solar Flag Pole Light;” any intellectual property and other intangible property related to SKUs, including but not limited to all rights to a brand name “Stand Flagpoles,” among other things.

Akebia Therapeutics Inc. (AKBA)

Shares of Akebia Therapeutics have been on the list of penny stocks to watch since early December 2022. At the time, they were trading below $0.30 and ultimately rallied as high as $1.20 by the middle of this year’s first quarter.

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One of the more recent milestones came after Akebia announced receipt of an interim response from the FDA. This was to appeal its vadadustat treatment of anemia. It met with the FDA to discuss the next steps regarding the interim response to its Formal Dispute Resolution Request. This was prompted by a Complete Response Letter last March. A favorable Committee for Medicinal Products for Human Use (CHMP) opinion in Europe for the drug candidate has also helped boost sentiment in the market.

The CHMP of the European Medicines Agency adopted a positive opinion. This was regarding recommending the European Commission to approve Vafseo™ (vadadustat) for treating symptomatic anemia associated with chronic kidney disease. This will be reviewed, and a final decision will be delivered. Akebia said the decision would be made within months.

This week, Akebia announced positive top-line results from its vadadustat alternative dosing study for treating anemia. Steven K. Burke, M.D., Senior Vice President, Research & Development and Chief Medical Officer of Akebia, explained, “The FO2CUS study demonstrated that vadadustat managed hemoglobin levels in patients on hemodialysis when administered three times a week, which we believe is important as the dosing schedule aligns with dialysis visits and has the potential, if approved, to provide an oral alternative to the standard of care.”

Akebia also said it expects to present full study results at “an upcoming medical conference or in a peer-reviewed journal” this year.

Celularity Inc. (CELU)

Another one of the penny stocks with news this week is Celularity Inc. The company develops placental-derived allogenic cell therapies and biomaterial products. Its Biovance, Interfyl, and CentaFlex platforms are designed to address damaged tissue, wound healing, and surgical and ocular markets.

This week Celularity announced that the FDA offered a preliminary assessment for its investigational FUSE Bone Void Filler platform. It was developed as a passive bone filler in the pelvis, extremities, and specific spinal fusion settings.

“We are delighted to receive the FDA’s feedback about the preliminary FUSE product classification and CDRH jurisdiction, on the basis of which we anticipate a 510(k) pre-market notification submission for FUSE in early 2024,” said Robert J. Hariri, M.D., Ph.D., Celularity’s CEO.

On the back of this news, CELU stock caught a boost of trading momentum this week. What’s more, in the recently published quarterly report, Celularity also cited that it plans on starting clinical trials of its CYCART-19 during the second half of the year.

Specifically, “in the first quarter of 2022, we submitted an IND to investigate CYCART-19 for treatment of B-cell malignancies and in late May 2022, received formal written communication from FDA requesting additional information before we can proceed with the planned Phase 1/2 clinical trial…We expect to commence the trial, if the IND is cleared by the FDA, and sufficient funding is available, in second half of 2023.”

List Of Penny Stocks With News

  1. ReShape Lifesciences (NASDAQ: RSLS)
  2. MGO Global Inc. (NASDAQ: MGOL)
  3. Akebia Therapeutics Inc. (NASDAQ: AKBA)
  4. Celularity Inc. (NASDAQ: CELU)

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