Biotech penny stocks remain some of the most popular securities in 2021. While Covid has helped to highlight the industry at large, each individual company has something different to offer. When looking for a biotech penny stock, it’s important to understand a few key aspects of the company’s operations.
First, what part of the industry does it work in? Within biotech, companies can produce pharmaceuticals, medical devices, and everything in between. Because of this, it’s important to have a full understanding of where a specific penny stock sits in the larger industry.
Second, investors should know whether or not it has any therapeutics or devices in the commercialization stage. This one is extremely important because it can mean the difference between revenue and a lack thereof.
Lastly, what is the company working on right now and what does it have going for the future? It’s worth noting that this also correlates to your investing goals. If you are a long-term investor, finding a company with a valuable pipeline could be paramount. However, if you’re a swing trader or short-term investor, it may be more valuable to look at what a company is doing in the short term.[Read More] 3 Penny Stocks that Are Benefitting From the Pandemic
Now, this is not an exhaustive list by any means. But it should offer a valuable place to begin your search. Given that there are hundreds of biotech penny stocks, the options are almost limitless. So using this list should help to narrow down an exhaustive watchlist to only a few penny stocks to buy. Considering this, let’s take a look at some early movers on April 15th.3 Biotech Penny Stocks to Watch Right Now
- BioLineRx ADR (NASDAQ: BLRX)
- Seelos Therapeutics Inc. (NASDAQ: SEEL)
- Onconova Therapeutics Inc. (NASDAQ: ONTX)
On April 15th, shares of BLRX were moving steadily in early morning trading. This move could come from an announcement of an upcoming presentation at the 2021 American Association for Cancer Research Annual Meeting.
Ahead of its presentation, the company released a poster, detailing an analysis of the effects of its Combat/Keynote-202 triple combination study of motixafortide in metastatic pancreatic cancer. Additionally, the company states that it should have the final data from its Phase 3 GENESIS trial of motixafortide for stem cell mobilization in the coming weeks.
Dr. Abi Vainstein, CMO of BioLineRx stated that “we are very pleased to present this additional analysis, which further strengthens the results reported from the Combat/Keynote-202 trial in December 2020, since not only were substantially all patients initially diagnosed with Stage 4 disease, but the vast majority of patients had liver metastases, emphasizing the extremely difficult patient population in this study.”[Read More] 4 Top Biotech Penny Stocks to Watch in April 2021
The company states that it should have data to show wrong support for the continuing development of motixafortide in patients in the next few weeks. It’s worth noting that this is not its only ongoing study. The company is also evaluating the same compound for its potential in stem cell mobilization for autologous bone-marrow transplantation.
Also, it is in a Phase 2a study for the treatment of pancreatic cancer with motixafortide in combination with Keytruda. This is being done through a collaboration agreement with Merck & Co Inc. (NYSE: MRK). Considering these exciting updates, BLRX could be worth keeping an eye on.Seelos Therapeutics Inc.
Seelos Therapeutics is another pure-play biotech stock that we’ve been discussing for several months. However, it’s worth noting that SEEL is working on one non-traditional compound that could play out well in the long run. This is SLS-002 or intranasal racemic ketamine.
Currently, it has two investigational new drug applications for SLS-002 in the treatment of both Acute Suicidal Ideation and Behavior in Major Depressive Disorder/PTSD. In 2019, the U.S. saw more than 1 million visits to the emergency room for suicidal attempts. Because of this, Seelos sees a large market opportunity to potentially treat these patients.
It’s worth considering that there are some stigmas around ketamine as a pharmaceutical. However, early studies are showing highly encouraging efficacy levels. In a recent development, Seelos announced a strategic device partnership with AptarGroup Inc. (NYSE: ATR). This partnership covers the BDS Liquid System, used in the intranasal delivery of SLS-002.
Raj Mehra, Ph.D., the Chairman and CEO of Seelos, states that “Aptar is a world-class organization and has been an integral partner for our intranasal ketamine program since our inception. This partnership strengthens the collaboration between Seelos and Aptar, and further protects the SLS-002 franchise.”
With the Part 1, 16-patient proof-of-concept study now completed, Seelos should have open-label data by the second quarter of this year. While many biotech companies are engaged in exciting studies, this one is quite different from the rest.
It’s worth considering that it may take some time for this study to be completed. However, with Canada and several U.S. states legalizing certain psychedelic compounds, we could see widespread adoption of new types of pharmaceuticals in the coming years. This has helped to usher in a new era of psychedelic penny stocks. Considering this, is SEEL stock worth watching?Onconova Therapeutics Inc.
Another biopharmaceutical company is Onconova Therapeutics. It focuses on discovering novel therapeutics used in the treatment of cancer. The company has several proprietary anti-cancer agents that are designed to disrupt cellular pathways. In its pipeline are compounds such as the multi-kinase inhibitor ON 123300.
This compound is scheduled to begin Phase 1 Trial in the second quarter of this year for dose escalation testing. Additionally, a similar trial has already begun in China, which should have results later this year. Moving forward, it’s rigosertib therapeutic is in a similar Phase 1 study, to see its efficacy in treating lung adenocarcinoma in combination with nivolumab.
Also of note is its preclinical work going on in the investigation of rigosertib for treating Covid-19. This is exciting and could add a layer of value for shareholders to consider.
In early April, Onconova announced full enrollment in a second cohort Phase 1 study of ON 123300 in China. The study, known as HanX, has enrolled six patients to date.
Steven Fruchtman, the CEO of Onconova, stated that “we are encouraged that the HanX Phase 1 study is proceeding as planned, and look forward to the identification of a recommended Phase 2 dose to move into later-stage trials.”
This is an exciting step in the continued progress of Onconova’s pipeline. While it is still very early, it is worth considering when deciding whether or not to buy ONTX stock.[Read More] 4 Penny Stocks On Robinhood To Buy Under $1; 50%-270% Price Targets