Here we are at the start of a new week and a new list of penny stocks to watch. This has become a frequent installment on our weekly outlook on markets with a focus on one industry. Biotechnology is one of the areas of the stock market with constant volatility. It doesn’t matter if we’re talking about cheap stocks on Robinhood under $5 or large-cap stocks trading above $100.
Since this industry has oversight bodies like the Food And Drug Administration, certain things must be upheld based on rules that’ve been in place for decades. Part of this set of rules has to do with things like phase trials. Whether it’s pre-clinical, clinical, or commercial launch, steps are needed and proof required to move forward with any drug candidate or medical device.
There are also plenty of forms and applications that get filed along the way, allowing for FDA and other global biotech oversight groups to give guidance or even completely shut down a company’s pipeline development. Then you’ve got other things specific to companies unrelated to any FDA event.
These are things like industry conferences and investor engagements. The bottom line is, unlike other industries, biotech has plenty of moving parts that can act as catalysts in the stock market. Today we’ll look at 10 penny stocks to watch this week with potential biotech catalysts. Will they be on the buy- or avoid-side of your watch list?Penny Stocks To Watch This Week
|1. Soligenix Inc. (NASDAQ:SNGX)||October 18, 2021|
|2. Transcode Therapeutics Inc. (NASDAQ:RNAZ)||October 19, 2021|
|3. Citius Pharmaceuticals Inc. (NASDAQ:CTXR)||October 20, 2021|
October 21, 2021
|4. Evofem Biosciences Inc. (NASDAQ:EVFM)||October 20, 2021|
|4. Sio Gene Therapies (NASDAQ:SIOX)||October 21, 2021|
|5. Abeona Therapeutics (NASDAQ:ABEO)||October 21, 2021|
|6. ReShape Lifesciences (NASDAQ:RSLS)||October 21, 2021|
|7. Aditxt Inc. (NASDAQ:ADTX)||October 21, 2021|
|8. Longeveron Inc. (NASDAQ:LGVN)||October 21, 2021|
|10. AVROBIO Inc. (NASDAQ:AVRO)||October 22, 2021|
The first name on this list of penny stocks kicks things off tomorrow. Soligenix specializes in treatments for several indications. Its SGX301 (HyBryte) platform addresses cutaneous T-cell lymphoma and is awaiting regulatory approval after completing a Phase 3 study. Solivenix has also developed its SGX302 (Hypericin) in treating psoriasis.
Soligenix is also part of the popular COVID-19 vaccine grouping of stocks. The company is developing CiVax™, which is currently under observation in non-human primates. The vaccine candidate has shown protective effects against the SARS-CoV-2 variant and was recently featured in the article, “Protein Vaccine Induces a Durable, More Broadly Neutralizing Antibody Response in Macaques than Natural Infection with SARS-CoV-2 P.1.”What To Watch With SNGX Stock This Week
This week is all about the HyBryte platform. An abstract was selected and accepted for display and presentation at the National Organization for Rare Disorders Rare Diseases and Orphan Products Breakthrough Summit. The company will present the positive Phase 3 results with HyBryte™ in the context of the broader cutaneous T-cell lymphoma treatment landscape. This Summit begins on October 18th.Penny Stocks To Watch On October 19:Transcode Therapeutics Inc. (NASDAQ:RNAZ)
This week will be a very active week of conference presentations, as you’ll see in the next section. Transcode Therapeutics will have a presence at one of these conferences early during the week.
The company went public earlier this summer and has since fought back to regain its IPO levels unsuccessfully. Transcode is developing RNA oncology treatments targeting multiple indications. Its lead therapeutic candidate, TTX-MC138, is under development for addressing metastatic cancer. According to the company, TTX-MC138 has the potential to produce regression without recurrence in a wide range of cancers such as breast, pancreatic, ovarian, and colon cancer, as well as glioblastomas.What To Watch With RNAZ Stock This Week
The company recently appointed scientific co-founder of TransCode, Zdravka Medarova, Ph.D., as Chief Technology Officer. Dr. Medarova presents on Day 2 (Oct. 19) of the International OligonucIeotides and Peptides Conference. Her segment begins in the afternoon on Tuesday. So that could be something to keep in mind if RNAZ stock is on your watch list right now.Penny Stocks To Watch On October 20:Citius Pharmaceuticals Inc. (NASDAQ:CTXR)
Since the start of the year, Citus Pharmaceuticals has been a penny stock to watch. The company’s shares kicked things off at $1.05 in January and ended up running to highs of over $4.50 at one point this year. The company’s Mino-Lok platform has been one of the core points of focus for the market. This is a treatment for patients with catheter-related bloodstream infections. It’s currently in a Phase 3 Pivotal superiority trial. The FDA has also granted Fast-Track designation for the candidate.
The company’s I/ONTAK (E7777) is another treatment candidate targeting cutaneous T-cell lymphoma that has completed enrollment in a Phase 3 trial. The FDA granted this treatment orphan drug designation as well.What To Watch With CTXR Stock This Week
This week is a busy one for Citius. First, the company hosts a webcast on October 20th. Executive Chairman Leonard Mazur and Chief Medical Officer Dr. Myron Czuczman join CEO Myron Holubiak. The team discusses Cituis’ strategy and opportunities with I/ONTAK. A day later, on October 21, management discusses its pipeline of therapies, including the two late-stage treatments in Phase 3 trials. The company also plans on discussing its stem cell therapy program in development through the company’s NoveCite, Inc subsidiary.Evofem Biosciences (NASDAQ:EVFM)
It hasn’t been a pleasant last few months for Evofem. A mix of financing deals has been some of the hurdles faced in the market. EVFM stock has dropped from over $2 at the start of Q2 to as low as $0.6543 in August. Since reaching those lows, the penny stock treaded water around $0.75-$0.80.
Will Evofem be able to turn things around? The company’s portfolio of women’s STI treatments has been the core focus. Its Phexxi is the company’s first commercial product currently marketed as a female contraceptive. Additionally, the company’s EVO100 is under evaluation for the prevention of chlamydia and gonorrhea.What To Watch With EVFM Stock This Week
Despite its performance in the market, there are still a few things to know about the company if EVFM stock is still on your radar. The company delivers details on numerous abstracts at the American Society for Reproductive Medicine Scientific Congress on October 20. It will also give more information at the International Federation of Gynecology and Obstetrics XXIII World Congress of Obstetrics and Gynecology. Whether or not this helps turn things around is to be seen but is a highlight coming into the second half of October.Penny Stocks To Watch On October 21:Sio Gene Therapies (NASDAQ:SIOX)
Sio Gene’s pipeline focuses on neurodegenerative diseases and includes gene therapies for gangliosidosis and Tay-Sachs/Sandhoff diseases. Its AXO-AAV-GM1 and GM2 are the primary treatment platforms under development. GM1, in particular, has also received Orphan Drug Designation and Rare Pediatric Disease Designation from the FDA. Additionally, the company’s AXO-Lenti-PD is in trials for treating Parkinson’s disease.What To Watch With SIOX Stock This Week
Heading into mid-week, the company presents at the European Society of Gene & Cell Therapy Virtual Congress. This isn’t just a presentation on the broader strokes of the company; Managemen presents new clinical and preclinical data in 2 oral presentations and one poster presentation. These will include an update on the Phase 1/2 trial of AXO-AAV-GM1 in Typ 1 and Type 2 GM1 gangliosidosis. Sio Gene also presents a poster review of data from its Phase 1/2 study of AXO-Lenti-PD.Abeona Therapeutics (NASDAQ:ABEO)
Abeona could be another one of the penny stocks to watch this week. The company’s current programs include its EB-101, a Phase 3 candidate in treating dystrophic epidermolysis bullosa. It’s also developing ABO-102 and ABO-101 for Sanfilippo syndrome types A and B in Phase 1/2.What To Watch With ABEO Stock This Week
Similar to SIOX, ABEO stock could be in focus this week as it presents clinical data. The company’s pivotal trial of ABO-102 will be the focus at the Congress of European Society of Gene & Cell Therapy. This comes just one week after Abeona presented data from its Phase 1/2a EB-101 trial at the Pediatric Dermatology Research Alliance Conference.ReShape Lifesciences (NASDAQ:RSLS)
The second half of the week will also see several of the following companies mentioned present at the same conference. The company has benefited from recent attention stemming from the analyst community. Maxim Group initiated coverage on ReShape earlier this month. The firm started RSLS stock with a Buy rating and an $8 price target (See: Best Penny Stocks To Buy According To Analysts & Targets Up To 290%).
The company designs medical devices for weight loss and metabolic health. Its FDA-approved Lap-Band Program allows for minimally invasive treatment for obesity. ReShape’s “ReShape Vest System” is an investigational laparoscopically implanted device that wraps around the stomach and is used for weight loss. Last week the company launched a national ad campaign for Lap-Band, which includes spots on HGTV, TLC, Bravo, People Magazine, and Good Housekeeping, to name a few.What To Watch With RSLS Stock This Week
This week, amid the media blitz, ReShape also presents at an investor-focused conference. The company is one of nearly 40 listed as presenters at the Dawson James Small Cap Growth Conference.Aditxt Inc. (NASDAQ:ADTX)
Aditxt is another presenter listed at a conference this week. The company just came off of a presentation last week at the LD Micro Main Event on Wednesday. In focus has been the recent acquisition of AiPharma, which holds rights to an antiviral tablet Avigan/Reeqonus/Qifenda. Furthermore, AiPharma is part of a consortium called Global Response Aid.
It’s made up of companies including Dr. Reddy’s Laboratories (NYSE:RDY), Appili Therapeutics, and even a subsidiary of FujiFilm Holdings, FujiFilm Toyama Chemical, to name a few. Appili Therapeutics is running a global Phase 3 trial evaluating Avigan/Reeqonus as an oral at-home therapy for COVID-19. Completed enrollment in this trial was also recently announced, with top-line data expected in a few months.
“The successful completion of this acquisition would accelerate our commercialization plans in the infectious disease space and would uniquely position Aditxt by combining our commercialized AditxtScore™ for COVID-19 test with an at-home treatment for the disease. While initially targeting COVID-19, our combined clinical and commercial platform would potentially address unmet needs in other viral indications.”Amro Albanna, Aditxt Co-Founder and CEOWhat To Watch With ADTX Stock This Week
Aditxt is another one of the company’s listed on the roster of the Dawson James Small Cap Growth Conference. In addition to this acquisition, another topic of discussion has been the company’s AditxtScore for COVID-19. With more attention on COVID-related names and more presentations, it will be interesting to see what’s next for ADTX stock.Longeveron Inc. (NASDAQ:LGVN)
The focus for Longeveron is developing cell therapies for conditions such as aging frailty, Alzheimer’s disease, metabolic syndrome, and acute respiratory distress syndrome, among other things. Its LOMECEL-B platform derives medicinal signaling cells from the bone marrow of younger healthy adult donors. The idea is that by using cells that promote tissue repair, organ maintenance, and immune function, therapies can be efficiently developed for age-related disorders.What To Watch With LGVN Stock This Week
Longeveron presents at the Dawson James conference this week. Beginning at 11:25 AM ET, management will discuss its platform and conduct one-on-one meetings. If LGVN stock is on your list, this may be an important date to keep in mind.Penny Stocks To Watch On October 22:AVROBIO Inc. (NASDAQ:AVRO)
Though it’s just out of the penny stock range, AVROBIO is one of the lower-priced biotech stocks to watch this week. The company specializes in gene therapies for treating genetic diseases such as Fabry disease, Gaucher disease type 1, and cystinosis. There are also preclinical programs in Hunter syndrome, Gaucher disease type 3, and Pompe disease.What To Watch With AVRO Stock This Week
AVROBIO also has a busy week ahead. On October 20, the company sponsors a symposium on “Advancing the patient experience during ex vivo lentiviral gene therapy for lysosomal disorders.” Following this, on October 21, it presents new safety data from its clinical trials inFabry disease and Gaucher disease type 1 at the Congress of the European Society of Gene & Cell Therapy.
These include a presentation by Senior Scientist Mariana Loperfido, Ph.D., who discusses specifics on the company’s lentiviral gene therapy in lysosomal disorders. Principal investigator of the AVROBIO-sponsored FAB-GT Phase 2 trial, Mark Thomas, M.D., presents safety data on 8 Fabry disease patients in the trial treated with AVR-RD-01.BONUS: Penny Stocks To Watch
Are you still looking for more penny stocks to watch this week with potential catalysts? Here’s the bonus round of this article:AIM ImmunoTech Inc. (NYSE:AIM) – October 18, 2021
AIM announced its final protocol for a planned Phase 2 study of its Ampligen drug as a therapy for locally advanced or metastatic late-stage pancreatic cancer. In an early October release, the company said that it expects to submit both an Investigational New Drug application and an application for Fast Track status with the FDA no later than October 18, 2021.
No further updates have been made since. So this could be a scenario where the clock is ticking for the company. This comes on the heels of recently published Phase 1 study data supporting the safety of its Ampligen therapy as an intranasal therapeutic for COVID-19.Exicure Inc. (NASDAQ:XCUR) – October 18, 2021
Monday, Exicure’s COO Matthias Schroff presents at the International OligonucIeotides and Peptides Conference. The title of the presentation is “Spherical Nucleic Acids Facilitate Efficient Local Delivery Across Therapeutic Areas.”Arbutus Biopharma Corporation (NASDAQ:ABUS) – Second Half Of 2021
While no specific date was announced, earlier this year, Arbutus initiated a Phase 1a/1b clinical trial with AB-836. This is Arbutus’ proprietary oral capsid inhibitor. The company explained that initial data is expected in the second half of the year.Best Penny Stocks To Buy [or avoid]
Are these the best penny stocks to buy right now? Knowing what’s coming down the road is a valuable asset to have in your arsenal. But, it’s also important to understand that just because there is an actual update coming, that doesn’t mean it’s guaranteed to be a positive one. Make sure to keep this in mind, especially when it comes to biotech stocks.