Penny stocks attract considerable attention, but the more potent trick for investors to hunt for those stocks is by watching the trading activity. This feature would provide you with a closer look into penny stocks, which have been active over the past few days. Here is a look at four of those.
Clean Vision Corporation (OTC: CLNV): The company is one of the major innovators in the clean technology space, and on October 11, it announced that it had entered into a strategic agreement with Grant Thornton International. In its news release, Clean Vision Corporation noted that Grant Thornton was a leading worldwide advisory firm and would help it in issuing a maximum of $340 million in the form of green bonds.
The net proceeds from the issuance of the green bonds would be used by the company to form and operate the Plastic Conversion Network (PCN) under the Clean Seas umbrella across the world. The company further noted that the engagement with Grant Thornton was a major step towards the deployment of the PCN.
Another significant announcement from Clean Vision came about on September 7, when it revealed that the $1.75 million forgivable loan had been disbursed to it. The loan was pertaining to the Memorandum of Agreement that it had inked with the West Virginia Department of Economic Development. The company entered into the agreement on June 1, 2023. For the loan to be forgiven, the company would have to employ 40 people in a period of three years. The financing, which is non-dilutive in nature, would be used to fund the development of its Quincy, West Virginia-based plastic waste to circular waste facility.
Aravive Inc. (NASDAQ: ARAV) is a late-stage clinical company involved in the development of targeted therapeutics for treating metastatic disease. On October 17, the Aravive Inc. stock came into considerable focus and clocked gains of 62% amidst significant action.
On August 2, the company announced the Phase 3 AXLerate-OC trial for the purpose of evaluating the efficacy and safety of batiraxcept in platinum-resistant ovarian cancer. Aravive announced that the product failed to hit the primary endpoint of PFS (progression-free survival) in the subset of patients who had not been subjected to bevacizumab treatment previously. Additionally, it was noted at the time that the trial did not reveal any difference amongst the two different arms of the population, inclusive of patients who had been treated with bevacizumab in the past. At the time, Aravive announced that it would continue to evaluate the entirety of the dataset and come to a decision about the next steps.
RedHill Biopharma Ltd. (NASDAQ: RDHL) The specialty biopharmaceutical company made a key announcement about its product, opaganib, on October 3. RedHill Biopharma Ltd. announced that its unique twice-daily oral product recorded a statistically significant rise in survival time in an in vivo Ebola study conducted by the United States Army Medical Research Institute of Infectious Diseases (USAMRIID).
The product was administered in two doses of 150 mg/kg daily. It was the first ever host-directed molecule that had managed to show activity in combating the Ebola virus disease. The study by the United States Army tested three doses of opaganib—50, 100, and 150 mg/kg BID—against an inactive vehicle control arm. The results showed a mean survival time of 11.2 days following 150 mg/kg doses as opposed to a mean survival time of 5.5 days in the inactive vehicle control group. Previously, the product had also shown antiviral benefits for patients suffering from moderate to severe symptoms of COVID-19 infection.
Athersys Inc. (NASDAQ: ATHX) The cell therapy and regenerative medicine firm is involved in the development of MultiStem for critical care. On October 16, Athersys Inc. announced that it had gone into a warrant exercise inducement offer letter by way of which it would raise gross proceeds to the tune of $3.9 million. It would do so through the exercise of 28124590 warrants. Additionally, the company also got the first tranche of a $1.5 million payment from Helios KK as per the provisions of the global license for acute respiratory syndrome.
The company announced that it entered into the warrant exercise inducement offer letter on October 11 with an existing warrant holder. The transaction was closed on October 16. It was also noted in the news release that Athersys engaged the services of Alliance Global Partners as its financial advisor for the transaction.
Epazz Inc. (OTC: EPAZ): The cloud-based software leader is a specialist in providing made-to-order cloud applications to corporations, public sector entities, and institutions of higher learning. Epazz Inc. also offers Epazz BoxesOS V3.0, which is described as a comprehensive web-based business software package for small to mid-sized businesses, governmental agencies, Fortune 500 companies, and higher education institutions.
On October 3, the company announced that its holding company, ZenaDrone, would send its first drones to Ireland. The drones had been at its new manufacturing plant. The shipment would comprise the first set of 20 ZenaDrone 1000s, which would help in the establishment of drone as a service (DaaS) operations in Ireland.
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