3 Penny Stocks To Watch In November 2020
Are biotech penny stocks part of your portfolio right now? Aside from the obvious attention coronavirus vaccine stocks have received, there are countless other niches that make up this sector. While we’ve got plenty of leaders like Pfizer (PFE Stock Report), Gilead (GILD Stock Report), and Biogen (BIIB Stock Report), the penny stocks have gotten a lot of attention recently. Major advancements in things like immunotherapy and pain management have become a center of attention among traders and investors alike.
With state elections wrapping up, we’re now getting data on certain initiatives. These include initiatives in new substances like psilocybin and cannabis. Several states extended the growing list of names legalizing cannabis for adult use. We also saw places like Oregon and Washington D.C. put forth new measures for psychedelics.
As we saw in the early days of cannabis, the initial focus was on medical attributes. Will that be the case once again for things like magic mushrooms and other hallucinogens? That’s yet to be seen but with the fact that companies like Johnson & Johnson plus a growing list of mushroom stocks are already advancing biotech applications, we’re likely to see plenty more from this niche.
This doesn’t discount the fact that other, more established parts of the biotech sector aren’t gaining interest, though. Cancer stocks have certainly seen a jump in interest this year. Gilead’s acquisition of Immunomedics for its breast cancer treatment platform indicated a massive opportunity for clinical stage and preclinical stage companies. With M&A continuing to be a hot topic, will some of these names be on your list of penny stocks this month?
Biotech Penny Stocks To Watch: GT Biopharma Inc.
GT Biopharma Inc. (GTBP Stock Report) is one of the names becoming wrapped into the cancer stock discussion this year. The company’s novel TriKE treatment platform has been compared to what CAR-T was when “targeted treatments” were being explored early on. TriKE looks to accomplish a more “off-the-shelf” option of targeted treatment designed to target natural killer cells.
Its lead treatment candidate, GTB-3550 has been initially designed to treat acute myeloid leukemia. In early results of dosing patients in a Phase I/II trial, its Dose Level 3 was shown to be well tolerated with a favorable response to treatment. The treated patient saw a decrease in AML blast levels from 18% to 12% in the bone marrow. The patient also experienced an improvement in marrow cellularity.
GTB-3550 was also selected for presentation at the upcoming American Society of Hematology Meeting. What’s more, is that the company has expanded on the TriKE platform itself. In a recent series of events, the company had announced developments signaling new opportunities for TriKE including potential indications for prostate cancer and solid tumors. GT expanded its TriKE partnership with Cytovance Biologics at the beginning of October. This will see Cytovance exclusively manufacture 3 of GT’s TriKE product candidates utilizing Cytovance’s Keystone bacterial/mammalian expression systems.
Penny Stocks To Watch: OPKO Health Inc.
Shares of OPKO Health Inc. (OPK Stock Report) began climbing on Tuesday afternoon just. It came as reports revealed recent insider trading activity. A Form 4 filing showed that Chairman Phillip Frost bought 600,000 shares at an average price of $3.45. This took his stake in OPKO to 190,821,694 shares.
OPKO has been a player in the biotech sector for most of 2020. Thanks to advancements in its pipeline including the broad focus on COVID-19 testing, traders have grown an attraction to OPK stock. One thing to keep in mind is that insider trading can be a sign of both strength and weakness. In this case, when the Chairman is also a billionaire buying up stock, that could resonate as a strong stance on OPKO itself.
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Late last month, OPKO announced that its BioReference Laboratories company began accepting new specimens for its multiplex COVID-19 and influenza test. “As cases of COVID-19 rise, arming healthcare professionals with reliable laboratory solutions to help achieve an accurate diagnosis is imperative in limiting the spread of the virus,” said Jon R. Cohen, M.D., Executive Chairman of BioReference Laboratories. With an uptick in COVID cases and another wave expected, OPKO has positioned to focus on testing right now. Amid these developments, OPK stock has reignited momentum this month.
Penny Stocks To Watch: BioCryst Pharmaceuticals Inc.
BioCryst Pharmaceuticals Inc. (BCRX Stock Report) is on the list of biotech penny stocks to watch right now as well. The company saw a nice spike on Wednesday. This continued the now 5-day move that BCRX stock has seen. Whichever the outcome from the Presidential election, BioCryst appears to simply buck a strong bull trend.
This has been a company we’ve discussed frequently this year. One of the bigger focuses on the company is its treatment pipeline. Specifically, BioCryst has begun to advance its berotralstat treatment. Data from the first 24 weeks of the APeX-2 trial of oral, once-daily berotralstat were published online by the Journal of Allergy and Clinical Immunology. This was in patients with hereditary angioedema (HAE) have been
“The data from APeX-2 show that berotralstat may provide an important oral option for patients with HAE that could allow them to prevent HAE attacks and reduce their overall burden of therapy.”
Bruce Zuraw, M.D., principal investigator of the APeX-2 trial
This week BioCryst reports earnings on Thursday. But certainly the broader focus in on progress with the company’s pipeline. At the end of October, BioCryst reported that the United Kingdom’s Medicines and Healthcare products Regulatory Agency (MHRA) granted oral, once-daily berotralstat a positive scientific opinion. This came through the Early Access to Medicines Scheme. This step could bring the treatment one step closer to commercialization. The European Medicines Agency is reviewing the marketing authorisation application (MAA) for berotralstat. An opinion from the Committee for Medicinal Products for Human Use could come within 12 months from MAA validation. The company announced that on March 30th of this year.