Penny stocks are fueled by speculation in many cases. One of the most speculative industries has been biotechnology. These companies have been garnering a lot of attention over the last decade. This is probably due to the primary focus of these companies, creating treatments where none exist.
It has become one of the fastest-growing sectors as well. Much of the excitement as of late has to do with bigger deals that have bread more interest from the public. One of the primary reasons investors love biotechnology companies is the amount of news they release.
This is especially true for biotech penny stock investors lately. Because of the large number of press these companies have, investors must remain informed about recent company developments. Furthermore, you should stay “in the know” about the broader sector leaders that could be the “rising tide” of sorts. Here are some biotech stocks to watch:
Penny Stocks To Watch #4
PharmaCyte Biotech Inc. (PMCB)
Biotechnology penny stockPharmaCyte Biotech Inc. (PMCB Stock Report) is a biotechnology company creating treatment plans for patients diagnosed with cancer and diabetes. In order to develop these treatments, PharmCyte utilizes its cellulose-based live-cell encapsulation technology called Cell-in-a-Box ®. This technology is able to turn dormant chemotherapy drugs into cancer destroying machines.
Through the use of its Cell-in-a-Box ® technology, the company currently has 4 products in its pipeline. Its pancreatic cancer product is currently undergoing Phase 2 clinical trials. The other products for abdominal cancers, diabetes, and cannabinoids are in the preclinical phase.
PharmaCyte has also been improving its internal structure alongside its product development. The company appointed Dr. Manuel Hidalgo as Chief of the Division of Hemataology and Medical Oncology at Weill Cornell Medicine and NewYork-Presbyterian/Weill Cornell Medical Center. Dr. Hidalgo recently confirmed that he will be the Principal Investigator for PharmCyte’s clinical trial in advanced, inoperable pancreatic cancer.
In addition, PharmaCyte, on September 11th, will be having a special shareholder meeting. The company will discuss several important matters that directly impact shareholders. This includes electing 6 directors, amending its Articles of Incorporation, and ratifying Armanino LLP as the company’s public accounting firm.
Penny Stocks To Watch #3
Lexicon Pharmaceuticals Inc. (LXRX)
Biotech penny stock to watch #2 is Lexicon Pharmaceuticals Inc. (LXRX Stock Report). The company develops medicines for patients with severe diseases. Lexicon is able to do this through the use of its Nobel Prize-winning gene technology.
Through the use of this technology, Lexicon currently has 7 treatments in its pipeline. XERMELO is its lead candidate and has gone through all 3 phases of clinical trials along with its marketing.
LXRX stock was gapping up by over 55% on September 11th thanks to some positive penny stock news. Lexicon announced that it would be terminating its alliance and settlement with Sanofi. This termination will require Sanofi to pay Lexicon $260 million and Lexicon will regain all of its rights to Zynquista. But as you can see, LXRX stock has given back most of the day’s gains.
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It is important to note that the initial gap is still holding. That means even though the penny stock traded lower than where it opened, it’s still maintaining a level well above where it previously closed.
Penny Stocks To Watch #2
T2 Biosystems Inc. (TTOO)
This was one of the penny stocks mentioned earlier today. T2 Biosystems Inc. (TTOO Stock Report) is a healthcare company that creates medical devices that improve both patient care and its cost. This healthcare penny stock is making a strong move up on September 11th, raising its price from $1.43 to $1.79. Furthermore, it has already doubled its average trading volume.
This gap up came thanks to the company announcing it would be receiving funding from BARDA to advance diagnosis technology. “By providing same-day results, T2 Biosystems’ existing technology has made a significant impact on therapy decisions, and this next generation of innovations has the potential to expand on this progress,” explained Dr. Minh-Hong Nguyen, Professor of Medicine and Clinical & Translational Science Institute, University of Pittsburgh.
Unlike LXRX above, TTOO stock has not only held its initial gap but it has maintained an uptrend throughout most of the day. Needless to say, there’s no telling what could happen within the next 24 hours. But it’s usually a high sign to at least make note of this trend.
Penny Stocks To Watch #1
MannKind Corporation (MNKD)
The last company that could find its way on a list of penny stocks to watch this month is MannKind Corporation (MNKD Stock Report). The company focuses on developing treatments for patients with diabetes and pulmonary arterial hypertension. MannKind’s lead product, Afrezza, has completed all of its clinical trials and has been approved. This treatment aims to improve glycemic control in diabetic patients.
MannKind has had a very strong September thus far. Since August 30th, the company’s stock price has risen over 27%. The strong push might be in part due to the company’s Q2 report which showed record revenues and margins. On September 11th, the biotech penny stock was also up 7%.