Looking For Biotech Penny Stocks Right Now?
One of the most active sets of penny stocks in 2020 has been biotech stocks. Aside from the obvious push from COVID-19 vaccine candidates, companies are utilizing the increased attention to build upon novel treatment pipelines. Evidenced by the NASDAQ Biotech ETF (IBB ETF), we can clearly see that argument on biotech vs healthcare stocks is being won by the former.
Take a peek at the Healthcare ETF (XLV ETF), for example. While the IBB continued trading in its recent channel, the XLV dropped aggressively. It wasn’t just Friday where the ETF price dipped either. The XLV has experienced much stronger selling pressure since last Wednesday. Now, are all penny stocks in the healthcare industry getting pummeled? No, and all penny stocks in the biotech sector aren’t explosively rising higher either.
Needless to say, there is a very clear difference between the trends of these two benchmark ETFs. It’s enough to take a closer look at some of the biotech stocks set to release data this month. Keep in mind that the following companies have previously announced specific dates that they expect to release information. That can easily change as we’ve seen with several biotech companies this year. Due to COVID-19 slowing things down for the FDA, several companies have had their FDA dates pushed back weeks; sometimes months.
Biotech Stocks To Watch
- Stealth Biotherapeutics Corp. (MITO Stock Report)
- Cellectar Biosciences Inc. (CLRB Stock Report)
- Sesen Bio (SESN Stock Report)
- BioLineRx Ltd. (BLRX Stock Report)
- Dynavax Technologies (DVAX Stock Report)
Biotech Penny Stocks To Watch #1: Stealth Biotherapeutics Corp.
Stealth Biotherapeutics Corp. announced last week that it’s going to present at the International Conference on Cachexia, Sarcopenia, and Wasting Diseases. Specifically, the company made its presentation on Phase 3 clinical trial results of its elamipretide treatment. This includes the company’s MMPOWER-3 and TAZPOWER for specific indications in replisome disorders and skeletal muscle wasting & cardiomyopathies. Since the presentations were made over the weekend, Monday will likely be the day we find out the response from the conference.
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If you take a look at the MITO stock chart, you’ll see that trading volumes have been above average for the last 5 consecutive trading sessions leading up to this weekend. Keep in mind, though the depending on the results of these presentations, there could be a volatile swing in either direction. As we saw a few weeks back with another biotech stock, weekend presentations don’t always account for a strong, Monday morning open. So if MITO stock is on your watch list right now, keep that in mind.
Biotech Penny Stocks To Watch #2: Cellectar Biosciences Inc.
Cellectar Biosciences Inc. is one of the biotech stocks we’ve followed for quite some time. But what I will say is that recently, CLRB stock has been far out-performing in the market compared to past months. If you look toward the beginning of the month, Cellectar stock began experiencing much higher levels of trading activity and for good reason.
In its most recent quarterly update, James Caruso, CEO of the company, stated that “we continue to make good progress towards the fourth quarter initiation of the CLR 131 pivotal study in our lead heme-oncology indication. Our recent FDA guidance meeting was most encouraging and we look forward to providing greater details in the near term.”
In addition to this, the company is set to present at this week’s International Symposium on Pediatric Neuro-Oncology. Specifically, the company’s CLR 131 cancer treatment candidate will be the focus. The presentation will highlight Phase 1 study data including subjects with those who had different brain tumors. This study is a dose-escalation study in Phase 1 and so far, all doses have been deemed safe according to Cellectar. So heading into this week, keep December 13-16 in mind if CLRB is on your list of penny stocks to watch right now.
Biotech Penny Stocks To Watch #3: Sesen Bio
Sesen Bio gave traders and investors something to look forward to heading into the end of the year. In its 3rd quarter business update, the company made mention of progress with its VicineumTM treatment for bladder cancer. The treatment (also known as VB4-845) is currently in a Phase 3 registration trial and the company said it aims to finalize its Biologics License Application (BLA) submission by this month. If you’re unfamiliar with what a BLA is, according to the FDA, it’s “a request for permission to introduce, or deliver for introduction, a biologic product into interstate commerce.”
The company is also targeting to have a potential Marketing Authorization Application submission in Europe by early next year. Considering the clock is ticking right now with this being the last full trading week of the year, will we see any news related to this BLA submission? That’s a question I’m sure many traders are asking right now, heading into the end of the year.
“We believe the probability of regulatory success is high in both the US and Europe due to the strong clinical profile of Vicineum enabled by the unique dual mechanism of action. Once approved, we think Vicineum has the potential to be the best-in-class therapeutic in BCG-unresponsive NMIBC with a significant global commercial opportunity.”
Dr. Thomas Cannell, president and chief executive officer of Sesen Bio
Biotech Penny Stocks To Watch #4: BioLineRx Ltd.
BioLineRx Ltd is another one of the biotech penny stocks we’ve followed frequently. Much of the excitement has centered around its current Phase 3 GENESIS study of its motixafortide treatment for stem cell mobilization. It’s currently indicated in patients with multiple myeloma right now.
Last month, BioLineRx reported that the Data Monitoring Committee found “statistically significant evidence favoring treatment with motixafortide in the primary endpoint”. It then recommended stopping patient enrollment. The company expects results published in the first half of 2021.
So what should traders know about BLRX stock right now? Aside from the recent spike in price, the company expects data released “in the coming weeks”. That’s what Philip Serlin, CEO of BioLineRx said in a Q3 business update. Specifically, progression-free survival & overall survival data on all study patients from the triple combination arm of a Phase 2a COMBAT/KEYNOTE-202 study. This followed patients treated with motixafortide and KEYTRUDA®, together with chemotherapy. Last year, the company reported positive overall response rate data last year on half of the patients. Now traders are looking to see what the full results look like.
Biotech Penny Stocks To Watch #5: Dynavax Technologies
Finally, Dynavax could be one to watch this month. There haven’t been any firm dates given. But taking a look at a November 5th update shows Q4 to be a key period for the company. Final immunogenicity data from its ongoing study of HEPLISAV-B in patients on hemodialysis is anticipated in Q4.
Furthermore, there’s a publication planned in the first half of next year. HEPLISAV-B is the company’s hepatitis B vaccine, which also has FDA approval. It contributed to a net revenue increase to $11.6 million in the third quarter of this year. That was compared to $10.2 million in the same quarter last year. This month, the European Medicines Agency Committee for Medicinal Products for Human Use issued a positive opinion on the company’s Marketing Authorization Application for HEPLISAV-B.
Aside from this, the company is also anticipating data from Phase 1-enabling animal studies and toxicology. The ideal outcome is for improved tetanus, diphtheria, and pertussis vaccine with its CpG1018 treatment. That is also planned for this quarter. HEPLISAV-B® uses CPG 1018 to provide increased vaccine immune response.
The company has also utilized CpG 1018 in its potential COVID-19 vaccine candidate. along with Biological E. Limited, the two, along with Baylor College of Medicine began Phase I/II trials last month, in India. The results of this trial are expected next February.