5 Biotech Penny Stocks to Watch As Vaccine News Sparks Market Rally

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Can These Biotech Penny Stocks Continue to Climb Amidst a Potential Covid Vaccine?

Biotech penny stocks have seen increased popularity in the past few months due to Covid. On Monday, November 9th, Pfizer Inc. (PFE Stock Report) announced that its vaccine candidate is more than 90% effective at stopping Covid transmission. On the announcement of the news, shares of PFE stock and other major biotech stocks shot up in value. In the past six months, we have seen many biotech penny stocks climb and fall in accordance with Covid-Related announcements. And while the latest from Pfizer seems to be quite promising, there is still a long road ahead before Covid is hopefully eradicated.

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With this in mind, plenty of biotech penny stocks have come into focus. No matter the size of the role that a company plays in solving Covid, we have seen most biotech stocks correlate highly with one another. In the past six months, we have also seen major breakthroughs regarding the rapid development of a vaccine.

With this has come a supposed “golden age” for biotechnology. Because of this, many investors have spent time searching for biotech penny stocks with solid future potential. And while there are plenty of options, here are 5 biotech penny stocks to watch for a Covid vaccine rebound.

Biotech Penny Stocks to Watch for November 2020

  1. GT Biopharma Inc. (GTBP Stock Report)
  2. Acorda Therapeutics Inc. (ACOR Stock Report)
  3. Aquabounty Technologies Inc. (AQB Stock Report)
  4. Ocugen Inc. (OCGN Stock Report)
  5. Corbus Pharmaceuticals Inc. (CRBP Stock Report)

Biotech Penny Stocks to Watch #1: GT Biopharma Inc.

Once again, shares of GT Biopharma Inc. saw a wild day of trading to start the week. The penny stock ranged between $0.17 and $0.19 holding around its 200 day moving average. With an upcoming presentation at the American Society of Hematology meeting in early December, there’s been more speculation building up during the last few weeks. Announced in mid-October, this headline has grabbed attention due to the fact that the ASH conference is one of the largest and final industry meetings of the year.

The company’s interim results for its GTB-3550 were chosen for presentation. One of the key highlights in recent months came after a Dose Level 3 update in the company’s ongoing Phase I/II trial of GTB-3550. Results showed a favorable response to the treatment for acute myeloid leukemia with a decrease in AML blast levels and improved marrow cellularity.

With this in the foreground, traders are also pondering the potential of the company’s treatment platform as a whole. GT’s TriKE technology was designed to be an “off the shelf” option for cancer treatments. A recent research effort was conducted by researchers at the University of Minnesota and at Massachusetts General Hospital/Harvard Medical School. The focus was on utilizing a a B7H3-targeted TriKE™.

This B7H3 protein is expressed on different tumors and was found to have the potential to enhance natural killer cell immunotherapy in solid tumor settings. Based on the findings, the company expressed that it will advance a B7H3 TriKE™ product candidate to clinical development. So this is another thing to keep in mind if GTBP stock is on your watch list right now.

biotech penny stocks to watch GT Biopharma Inc. (GTBP stock chart)

Biotech Penny Stocks to Watch #2: Acorda Therapeutics Inc.

Acorda Therapeutics Inc. is a biotech company that posted 5% in gains during intraday trading on November 9th. The company states that it works on various therapies that are in use to treat neurological disorders. The company recently announced that it became entitled to receive a $15 million payment from Biogen International. After the announcement on October 20th, shares of ACOR stock bounced up by almost 45%.

The company stated that “it has become entitled to receive a $15 million milestone payment from Biogen International GmbH under its license agreement with Biogen, based on Biogen’s ex-U.S. net sales of Fampyra exceeding $100 million over the four consecutive quarters ending with the third quarter of 2020 (Acorda) will retain approximately $14 million of the milestone payment.”

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In addition to this, the company has several drugs that are in its pipeline right now. This includes Selincro, Inbrija, and more. Although it in itself is not a Covid penny stock, the company does have a high correlation with the biotech industry. For this reason, investors can decide whether or not ACOR stock is a penny stock to watch.

biotech penny stocks to watch Acorda Therapeutics Inc. (ACOR stock chart)

Biotech Penny Stocks to Watch #3: Aquabounty Technologies Inc.

Aquabounty Technologies Inc. is another biotech company working out of the U.S. While Aquabounty is not a traditional biotech stock, it does work in the biotechnology field. The company produces research and development for the genetic modification of fish. It does this for the purpose of aquaculture production.

On Monday, November 9th, shares of AQB stock shot up by almost 10% by the end of the day. As stated before, this is due to its correlation to the biotech industry. The company recently announced its third-quarter results for the period ending on September 30th. In the statement, Aquabounty announced that it had raised proceeds upwards of $31 million through a public offering of 12.65 million shares. Additionally, the company stated that it began harvesting Atlantic Salmon at its Indiana based farm.

CEO of the company, Sylvia Wulf, stated that “the third quarter of 2020 was marked by our continued progress towards the first ever commercial scale harvest of AquAdvantage salmon. Given the positive momentum in our business, we are also aggressively moving forward with the planning for our first large-scale farm, which is anticipated to have the capacity to produce 10,000 metric tons of AquAdvantage salmon annually.”

With this in mind, Aquabounty continues to be an interesting biotech stock to watch.

biotech penny stocks to watch Aquabounty Technologies Inc. (AQB stock chart)

Biotech Penny Stocks to Watch #4: Ocugen Inc.

Similar to Aquabounty Technologies Inc., Ocugen Inc. posted its Q3 earnings report only recently. On November 6th, the company announced that it had brought in a loss of around $0.07 per share totaling to $10.5 million overall. For some context, Ocugen Inc. works as a biopharmaceutical company with a focus on research, development and commercialization of various therapies.

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On November 6th, CEO of the company, Dr. Shankar Musunri stated that “I am proud of the advancements we have made this quarter in developing our modifier gene therapy and novel biologic product candidates. Additionally, I am pleased that we have raised approximately $28 million of gross proceeds in 2020.” 

Also of note is that the company ended the quarter with cash totaling at just shy of $20 million. This is up from $7.6 million as of December of last year. The company has been working on a gene therapy platform that has the goal of curing blindness diseases. While the approval of these drugs is subject to the FDAs stringent guidelines, it looks like Ocugen Inc. is in an interesting position. For this reason, investors should continue to research OCFN stock moving forward.

biotech penny stocks to watch Ocugen Inc. (OCGN stock chart)

Biotech Penny Stocks to Watch #5: Corbus Pharmaceuticals Inc.

Corbus Pharmaceuticals Inc. is a clinical stage biotech company working on the development and commercialization of several unique therapeutics. One of the main aspects that separates Corbus from the rest is its work on endocannabinoid system based drugs. This the same system in the body that processes THC and CBD from cannabis and hemp products.

The company has been working with its lead product, Lenabasum, to aid in the treatment of immunosuppressive diseases. This includes inflammatory and fibrotic diseases as well. While Corbus does have quite a lot of drugs in its pipeline, the focus has mostly been on Lenabasum in the past few months.

Recently, the company announced its data from the Phase 3 study of Lenabasum for the treatment of systemic sclerosis. Yuval Cohen Ph.D, the CEO of the company, stated that “we are encouraged by the post-hoc analyses pointing to lenabasum’s therapeutic potential to reduce decline in lung function in people with systemic sclerosis who have been on longer term immunosuppressant drug therapy.”

With lung health in focus due to Covid-19, many penny stock investors have turned their attention to Corbus Pharmaceuticals. While it is not a Covid biotech stock by most factors, it does have a correlation with the greater biotech industry. With this in mind, investors can deduce whether or not CRBP stock is one of the top penny stocks to watch.

biotech penny stocks to watch Corbus Pharmaceuticals Inc. (CRBP stock chart)
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