Penny Stocks To Watch 2 Tonix Pharmaceuticals Holding Corp NASDAQ TNXP
Penny Stocks To Watch If Biotech Is Your Focus This Week
Another week and another round of penny stocks to watch. One of the topsectors this year that has produced some of the biggest winners:Biotechnology. There’s no secret that coronavirus vaccine stocks have been aprime focus for investors. In fact, if you look at some of the massivelysuccessful penny stocks in 2020, you’ll be sure to find COVID names on thatlist. Whether it was the names rising a few hundred percent or other pennystocks like Novavax, Inc. (NASDAQ:NVAX) rising a few thousand percent, thefact remains. Early money placed on these stocks returned huge windfalls forsome investors.Some have even called this the best trade of all-time. No other investor haspersonified the magnitude of this opportunity than billionaire hedge fundmanager, Bill Ackman. The Pershing Square founder ended up turning $27 millioninto several billion dollars taking full advantage of the opportunity that theCOVID-trade provided.Read MoreHowever, he wasn’t the only one who saw potential in the market. Millions ofnew “Robinhood Traders” took the global economic shutdown and turned it intosomething of substance. New retail traders flooded the stock market attemptingto make money with penny stocks while businesses were shuttered from thepublic.
Penny Stocks To Watch With Key Developments In Biotech
Compounding this with the “coronavirus trade” the retail community, previouslyinexperienced with trading in general, found that these “COVID stocks” dealtwith more than just coronavirus vaccines. This became clear after the billion-dollar buyout news between Gilead and Immunomedics earlier this month. Insympathy with that headline, traders looked at these previous “vaccine stocks”and found many had immuno-oncology platforms.Now, we’re seeing a broader focus on biotech penny stocks stemming frommultiple catalysts this month. One of the beauties of this sector is thatcompanies will announce upcoming dates for things like data readouts, PDUFAdates, NDAs, and INDs. In light of this, it creates a “high-risk, high-reward”scenario that so many traders look for. Keeping that in mind, here’s a list ofpenny stocks that have or could be making key updates this month.
Penny Stocks To Watch 1: GT Biopharma (OTC:GTBP)
GT Biopharma (GTBP Stock Report) is one of the immuno-oncology stocks thatrecently gained attention following new updates in its Phase I/II trial ofGTB-3550. The company has focused on novel treatments for numerous types ofsolid tumor cancers. Its lead drug candidate, GTB-3550, is GT Biopharma’sfirst TriKE™ (tri-specific natural killer engager) product candidate. Theinitial developed focuses on treating of acute myeloid leukemia (AML).This past week, the company announced that it had completed treatment of thefirst patient enrolled at Dose Level 3 in this Phase I/II trial of GTB-3550.Results appear to have been favorable with the dose showing a decrease in AMLblast levels from 18% to 12% in the bone marrow. GT Biopharma also observed anincrease in the patient’s NK cell activity and numbers attributable to theIL-15 component of the TriKE™ molecule. Additionally, the patient experiencedno adverse reactions.
Penny Stocks To Watch 2: Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP)
Tonix Pharmaceuticals Holding Corp (TNXP Stock Report) has been one of thebiotech penny stocks to watch since May. When we first reported on during themid-second quarter, TNXP stock was trading around $0.70. The penny stock wouldultimately go on to soar to highs of $2.46 in July making for a strong startto Q3. However, as you can see on the chart, TNXP ended up as a short-livedmove. The penny stock has since, steadily consolidated ever since. However,this week could be one to keep in mind.[Read More] What Are The Top Penny Stocks To Buy Today? 3 Up Big In 2020This pivots off of the company’s update earlier this month. Tonix announcedthe first participant was enrolled in the Phase 3 RALLY study (TNX-CY-F306) ofTNX-102 SL 5.6 mg for the management of fibromyalgia. TNX-102 SL is thecompany’s sublingual tablet formulation of cyclobenzaprine HCl for themanagement of fibromyalgia. RALLY is the company’s second of two potentiallypivotal Phase 3 studies of TNX-102 SL.
What To Watch With Tonix Pharmaceuticals
Why could this week be important for Tonix? In that September 3rd update thecompany explained that an interim analysis of the first of the currentfibromyalgia trials, RELIEF, is expected by the end of September. Consideringthat we’ve got 3 days left in that timeframe, this week could be pivotal forTonix. Topline results are expected by year-end. If the RALLY study maintainscurrent enrollment timelines and objectives, it is expected to report toplinedata in the second half of next year.
Penny Stocks To Watch 3: BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)
BioCryst Pharmaceuticals, Inc. (BCRX Stock Report) is another one of thebiotech penny stocks to watch this week. In fact, BCRX stock has been on theradar as one of the coronavirus vaccine stocks to watch since April. At thetime, the company had just opened enrollment into a clinical trial to assessthe safety, clinical impact and antiviral effects of its galidesivir treatmentin patients with COVID-19. Fast-forward a few months and BCRX stock hasmanaged to climb from around $2 to highs of over $6.Closing out last week, BCRX stock was trading at $3.64. However, aftermarketmomentum took the stock slightly higher to $3.66. What’s got traders lookingat BioCryst right now? We’ve got another “third quarter milestone” to lookfor. In its August 6th update, the company discussed several initiatives.
Penny Stocks To Watch 4: Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH)
Spring Bank Pharmaceuticals Inc (SBPH Stock Report) is due to present data ofits own this week. Unlike the previous two penny stocks, Spring Bank announceda formal date that it would present abstracts related to its IV SB 11285 Phase1a/1b trial. The presentation will be at the 7th ImmunoTherapy of Cancerconference from October 3-5, 2020.Spring Bank is a clinical-stage biopharmaceutical company developingtreatments for oncology and inflammatory diseases. Its lead clinical productcandidate is SB 11285. The therapy focuses on treating selected cancers.Furthermore, Spring Bank’s STING antagonist compounds take aim at treating abroad range of inflammatory diseases. Its STING agonist ADC program centersaround oncology applications.
Penny Stocks To Watch 5: Selecta Biosciences Inc (NASDAQ:SELB)
Selecta Biosciences Inc (SELB Stock Report) is another biotech name to notethis week. The company’s main focus is on its immune tolerance platform,ImmTOR™. Back in August, the company gave a corporate update outlining themilestones reached and upcoming plans for investors to consider. One of thesewas with regard to clinical milestones for its SEL-212, the company’s leadproduct candidate for treating chronic refractory gout patients.During the second quarter, Selecta closed strategic licensing agreement withSobi for SEL-212 for $100 million in initial payments and up to $630 millionin potential milestones, and tiered double-digit royalties. The companiesannounced the start of phase 3 DISSOLVE clinical trials earlier this month.Meanwhile, the company expects topline results from its Phase 2 COMPAREclinical trial this quarter. The primary endpoint of the COMPARE trial is themaintenance of serum uric acid levels of <6mg/dL at three and six months.
Are These Biotech Penny Stocks On Your Watch List?
I know it isn’t March yet but with only a few days left, it might be time toput together your list of penny stocks to watch. The markets declined stronglyon Tuesday with broader sectors like tech dipping to some of the lowest levelsin weeks. While this may have been the case for larger tech stocks, smallerbiotech stocks have come into focus. Many have experienced a sharp reboundduring Tuesday’s session.We might not be out of the woods yet. But comments from Jerome Powell’stestimony gave clues to the economic outlook and potential recovery strategy.“The economic recovery remains uneven and far from complete, and the pathahead is highly uncertain…Although there has been much progress in the labormarket since the spring, millions of Americans remain out of work,” Powellsaid in prepared remarks delivered to the Senate Banking Committee. “Theeconomy is a long way from our employment and inflation goals, and it islikely to take some time for substantial further progress to be achieved.”The broader market appeared unfazed by the commentary. At least, for now,Powell’s commentary didn’t lead to another leg lower on Tuesday. As more datacomes out, we’re sure to see how that translates into different sectors. Forthis article, we’re going to look at biotech stocks, sure. But, as you’ll see,this isn’t your typical line-up of “the usual suspects,” & some are on thefringes of brand new market trends.
Psychedelic & Mushroom Penny Stocks To Watch
One of the things I discussed above was that there are companies on this listin a newer niche in biotech: psychedelics. Call it magic mushrooms,hallucinogens, shroom stocks, etc. The science behind this focuses on theneural benefits of psychedelic-assisted therapy.As we’ve seen with other “early fringe industries,” like cannabis,psychedelics are beginning to gain more appeal. A lot of that early appealaside from the novel method was the attraction from big investors. Everyonefrom Peter Thiel to Kevin O’Leary, and a slew of early investors in theoriginal pot stock boom flocked to this industry. Among them was Vic Neufeldwho was the original captain at the helm of cannabis trailblazer, Aphria(NASDAQ: APHA).
Time To Watch Biotech Penny Stocks?
What’s more, is that at some point, investors look for key levels for anopportunity. Usually, these are technical levels at the 200-day, 100-day, and50-day moving averages. As sectors (indicated by ETFs) and stocks approachthese key levels, some traders prepare for potential reversals. Now, whetheror not this happens before April is to be seen.But what we can say is that benchmark biotech ETFs like the Nasdaq BiotechIndex ETF (NASDAQ: IBB) and the S&P Biotech (NYSE: XBI) have both come withinrange of their 200-day averages. Is it time to start looking at biotech pennystocks right now? Here are 4 names that have begun trending during the secondhalf of the week.
Biotech Penny Stocks To Watch: GT Biopharma Inc.
Despite a slight pullback over the last few days, GT Biopharma Inc.’s sharesare still up around 20% for the month so far. The company has begun turningheads after a series of headlines sparked attention. GT Biopharma’s pipelineof cancer treatments built on its TriKE platform is at the center of theexcitement.This type of therapy combines proteins that bridge an immune cell and a tumorcell, then drive tumor cell killing power to exponential levels. It has led tonew first-in-human phase studies to treat leukemia. While its GTB-3550 trialshave played a bigger role, the recent news has emphasized the platform’sdynamic capabilities.This month, GT announced preclinical results for its ROR1 TriKE™ productcandidate as a prospective therapy for prostate cancer. GT explained thattargeting ROR1 on cancer cells with TriKE™ and redirecting NK cells to attackand kill cancer cells expressing ROR1 could result in a treatment that limitsthe metastatic potential and invasiveness of certain solid tumors. Based onthese results, the company said that it plans to evaluate this ROR1 TriKE inadditional IND-enabling preclinical studies to transition to a Phase I/IIclinical trial.Roth Capital also recently weighed in on the company. Not only did it issue aBuy rating on the company, Roth also set a $25 price target on the stock.