Are top biotech penny stocks on your watch list right now? If not, you may want to take a look at the industry. Over the last two days, one of the small cap stocks, Aptevo Therapeutics Inc. (APVO Stock Report) began captivating day traders across the market. The reason behind it has a lot to do with what we’ve seen as far as sympathy trading trends. If you recall, a few weeks ago, day traders were focusing on renewable energy stocks. Then it was electric vehicle stocks. In late October, there was a slew of low float penny stocks with a relationship to businesses in China. Is this the week we start seeing biotech penny stocks take off?
While time will tell, it’s clear that attention is on biotech stocks. Aptevo specifically deals with immuno-oncology therapeutics. Yes, cancer treatment stocks are back in the spotlight. For Aptevo, the company announced that, based on preliminary data, a patient in cohort 6 of the clinical trial showed complete remission.
“We are now in a critical phase of the study, as pharmacokinetic modelling suggests that dosing in cohorts 5 through 8 is in a therapeutic range, which could result in potential clinical activity of the drug.”Marvin White, President and CEO of Aptevo Therapeutics
Now, whether we see a focus on immunotherapy stocks or a broader biotech focus, this could be something of note before Friday. So, heading into the rest of election week, here are 5 biotech penny stocks to watch.Biotech Penny Stocks To Watch:
- GT Biopharma Inc. (GTBP Stock Report)
- Corbus Pharmaceuticals Holdings Inc. (CRBP Stock Report)
- BioDelivery Sciences (BDSI Stock Report)
- GlycoMimetics Inc. (GLYC Stock Report)
- PDS Biotechnology Corporation (PDSB Stock Report)
GT Biopharma Inc. is one of the immunotherapy stocks that’ve gained interest over the last few weeks. Mainly for its TriKE treatment platform, GT has continued making progress on several fronts. TriKE™ is a combination protein that bridges an immune cell and a tumor cell to drive tumor cell killing power exponentially. It has led to new first-in-human phase studies to treat acute myeloid leukemia via GTB-3550.
The company recently completed treatment of the first patient enrolled at Dose Level 3 in its GTB-3550 TriKE™ Phase I/II clinical trial. In short, the findings showed promise including a noticeable decrease in AML blast levels. There was also an improvement in platelet and red blood cells numbers. Interim results were also chosen for inclusion for presentation at the American Society of Hematology Annual Meeting. What’s more, is that GTB-3550 isn’t the only thing that TriKE is being utilized in. The company has continued expanding upon several new initiatives.
A recent publication in the journal Cancers also expanded upon TriKE’s potential. The company said that this specific a B7H3-targeted TriKE™ “has the potential to enhance natural killer cell immunotherapy in solid tumor settings”. Furthermore it supported its further clinical development.Biotech Penny Stocks To Watch #2: Corbus Pharmaceuticals Holdings Inc.
Corbus Pharmaceuticals Holdings Inc.has been trying to recover after plummeting back in September. Corbus reported no significant differences in primary and secondary endpoints for its Phase 3 lenabasum study. This is the company’s utaneous systemic sclerosis treatment candidate.
“We are surprised and deeply disappointed that the RESOLVE-1 trial did not meet its primary endpoint. I would like to extend my gratitude to the participants in the study and the clinical staff at the study sites, as well as to the Corbus employees, for their hard work and dedication. We now look forward to upcoming topline results from our study of lenabasum in patients with cystic fibrosis.”Yuval Cohen , Ph.D., Chief Executive Officer of Corbus
Aside from these data, what could have CRBP in the spotlight is its relationship to cannabis. We all know marijuana penny stocks are on the rise after recent legislative moves in the U.S. Furthermore, big news from Aphria (APHA Stock Report) entering the U.S. market via the acquisition of Sweetwater Brewing Company has traders looking for sympathy trades. Corbus’ lenabasum, is an oral, selective cannabinoid receptor type 2 agonist that resolves chronic inflammation. We’ll have to see if Wednesday’s sympathy momentum carries through the rest of the week.Biotech Penny Stocks To Watch #3: BioDelivery Sciences
BioDelivery Sciences joins the list after catching some late afternoon momentum on Wednesday. The specialty pharmaceutical company focuses on addressing chronic pain diseases. Around 5:10 PM EST, the company came out with several key updates. First, BioDelivery reported that Jeff Bailey would become the permanent CEO of the company. Bailey was acting as interim CEO since May 2020 while continuing to serve on the Board of Directors. His experience involves over 20 years at Jonhson & Johnson/Janssen Pharmaceuticals. He also served roles at Novartis as well as Neurovance.
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What’s more, the company also announced a $25 million share repurchase program. CEO Bailey explained, “We remain focused on balancing our disciplined approach to capital allocation against growth opportunities available to BDSI, including continuing to invest in the organic growth of our portfolio along with pursuing strategic acquisitions that will continue to drive long-term shareholder value.”
With that, shares popped during after-hours trading. Will BDSI be on the list of penny stocks to watch on Thursday?Biotech Penny Stocks To Watch #4: GlycoMimetics Inc.
GlycoMimetics Inc. was a late-breaking mover on Wednesday. The company focuses on rare cancers and addressing metastatic spread. On Wednesday, GlycoMimetics shares popped late in the afternoon following its latest update on upcoming presentations. The company announced that 3 abstracts have been accepted for oral presentations and two abstracts have been accepted for poster presentations at the 62nd American Society of Hematology Annual Meeting and Exposition. These include data from the company’s clinical and research portfolio.
The data convey new insights into the critical role of E-selectin in both malignant and inflammatory, adhesion-mediated conditions, suggesting novel treatment options for unmet need in sickle cell disease and AML,” said Helen Thackray, MD, FAAP, GlycoMimetics’ Chief Medical Officer.
Much like traders could track GTBP ahead of this conference, GLYC might also become one to watch in anticipation for what’s to be presented at this major industry conference.Biotech Penny Stocks To Watch #5: PDS Biotechnology Corporation
PDS Biotechnology Corporation saw its own late-afternoon surge on Wednesday. PDSB stock jumped once during the mid-morning session then again heading into the close on November 4th. This was without any related headlines. This week the company participated in the Grand Rounds webinar focused on specialty biotech and pharma companies. PDS focuses on immunotherapy with its lead T-cell technology platform, Versamune. It’s aimed at delivering disease-specific antigens for in vivo uptake.
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The company’s Phase 2 clinical trial of its PDS0101 in combination with standard of care chemoradiotherapy is being studied for treatment of locally advanced cervical cancer. Taking a look at previous headlines, late last month PDS announced that this trial was now open. The trials is planned for 35 patients but no anticipated data dates were given at the time.
“We are excited to have initiated this Phase 2 human study of PDS0101 administered with the current standard of care. We believe that the demonstrated potential of PDS0101 to activate the immune system to induce tumor-targeting T-cells provides strong potential to present improved treatments to patients with cervical cancer,” said Dr. Lauren Wood, Chief Medical Officer of PDS Biotech in the October press release.