Are These Penny Stocks On Your Watch List Right Now?
Penny stocks have heated up in a big way in 2020. With the rise and fall of the market, some of the biggest names among multiple industries have found themselves trading below $5. What has been the main cause? The global coronavirus pandemic has wreaked havoc on large economies. However, it has also created new opportunities as well. Some of the biggest have been found in the biotech arena. In fact, many of the well-known “ coronavirus stocks” today once traded as penny stocks.
This week there’s much more hope in the air with regard to reopening the economy. It’s remained a hot topic of discussion across the globe. From Italy to the U.S., plans to “get back to the new normal” have begun to take shape. But while that may be true, some sectors like oil and gas continue to feel the pressure. Needless to say, over the last few months, major innovation has been evident.
Now, biotech companies have begun implementing options for not only treatment but prevention of coronavirus and its side-effects. As a result, a different kind of optimism is being seen, one that involves a strong bullish sentiment for certain small-cap stocks. With this in mind, there are several that have not only jumped big this year, but have also continued to rally higher along the way.
Top Penny Stocks To Watch: Algernon Pharmaceuticals
Since the beginning of March, Algernon Pharmaceuticals (AGNPF Free Report) ( AGN) has been on the move. Shares initially jumped on March 6th after the company announced the potential of its Ifenprodil treatment as an applicable solution for COVID-19.
An independent study published by the American Society of Microbiology in mSystems showed the treatment could hold promise. The study found that Ifenprodil significantly reduced acute lung injury and improved survivability in an animal study with H5N1 infected mice. H5N1 is the most lethal form of influenza known to date with an over 50% mortality rate.
This month Algernon reported on several key milestones that caught the market’s attention. First, it received positive feedback from the U.S. FDA. This was regarding its plans to reformulate its repurposed drug NP-120 (Ifenprodil) into a new intravenous product. The company also reported more progress and announced the submission of a Clinical Trial Application to Health Canada. This is for a COVID-19 Phase 2b/3 trial of NP-120 (Ifenprodil). Within a day of that news, Algernon received regulatory and ethics approval for a Phae 2 Ifenprodil COVID-19 human study in South Korea. This has all aided in the growing interest around the company as Algernon has managed to climb over 200% this year so far.
“This first human trial of Ifenprodil in COVID-19 patients is a major step forward with our new acute lung injury clinical research program,” said Christopher J. Moreau CEO of Algernon. “Positive Phase 2 data would be an important milestone as we continue to investigate Ifenprodil’s therapeutic potential as a treatment for COVID-19, in addition to advancing our idiopathic pulmonary fibrosis and chronic cough program.”
Top Penny Stocks To Watch: iBio, Inc.
iBio Inc. ( IBIO Stock Report) was one of the early winners when it came to the coronavirus. In late February shares of iBio Inc. soared on hopes for the company’s partnership with Beijing CC-Pharming Ltd. on a plant-based vaccine to treat the coronavirus. iBio aimed to use its FastPharming facility, which was set up to create rapid delivery of medical countermeasures to treat a pandemic. The partnership looked to leverage CC-Pharming’s work on Middle East Respiratory Syndrome (MERS), another coronavirus, and iBio’s manufacturing processes in plant-based expression systems.
While shares of IBIO stock have pulled back since then, the market remained focused on new progress. Over the last few weeks, IBIO was more of a short-term “trade” for most. Its range-bound chart would break out then pull back and repeat the process. However, this week could that have changed? Fast-forward to this week and we can see another big update from the company.
iBio provided an update on its COVID-19 vaccine manufacturing capacity. It announced that it has joined the National Institute for Innovation in Manufacturing Biopharmaceuticals. The Institute is one of 14 institutes in the Manufacturing USA Network. “If our own proprietary SARS-CoV-2 Virus-Like Particle program, IBIO-200, results in an approved vaccine, we estimate that we could make about 500 million doses of high-quality product annually at our Texas facility, depending upon the potency we see in the clinic,” said Tom Isett , Co-Chairman & CEO of iBio. Even though IBIO pulled back from previous highs, its still up over 200% this year. Furthermore, this latest news has seen shares make waves before the market open on Tuesday. Can this momentum continue into the end of the month?
Top Penny Stocks To Watch: AIM ImmunoTech
AIM ImmunoTech ( AIM Stock Report) was also one of the early winners of the COVID-19 trend. At one point, the penny stock reached highs of as much as $7.11. Having pulled-back from those highs, AIM stock remains up considerably since the start of the year. Last week its CEO presented at the Planet Microcap Showcase Virtual Investor Conference.
But why is AIM stock rallying again this week? Obviously, if you check the newsfeed, you won’t see anything new. But take a look at its disclosure statements. An April 27th filing will show you a likely reason why the market has perked up this week. In it, AIM states that it entered into a Mutual Confidentiality Agreement with UMN Pharma Inc., Japan National Institute of Infectious Diseases, and Shionogi & Co., Ltd.
The purpose is for the evaluation and discussion for certain business relationships concerning a COVID-19 therapeutic and vaccine. According to AIM, current discussions with the Entities are preliminary and it anticipates that, if the parties determine to proceed, the initial activity will consist of preclinical animal studies of Ampligen. Shares of AIM stock jumped to highs of over $2.30 during premarket hours. Can this latest trend continue into next month?
Originally published at https://pennystocks.com on April 28, 2020.