3 Biotech Penny Stocks to Add to Your December 2021 Watchlist
Investing in penny stocks and blue chips has never been more action-packed. With inflation, the Omicron variant, and other factors to consider, investors are inundated with movement that can be capitalized upon. Right now, the largest impacting factor on penny stocks and the stock market as a whole is Covid. With the emergence of the little-understood Omicron variant, traders are on edge right now.
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While Omicron has sparked large market fears, it has also put a major emphasis on biotech penny stocks. This makes sense as there are numerous biotech companies with a sizable role in treating Covid. However, in the past few weeks, we’ve also seen attention on non-Covid related biotech penny stocks, indicating just how much bullish sentiment exists in the market right now.
One thing to keep in mind is that the stock market is incredibly volatile if that wasn’t obvious enough. As a result, keeping your ear to the ground and understanding how the news will impact the market is a great way to stay ahead. So, with all of this in mind, let’s take a look at three biotech penny stocks to watch right now.
3 Biotech Penny Stocks to Watch Right Now
iBio Inc. (NYSE: IBIO)
iBio Inc. is a biotech company that has shot up in value by over 25% in the past five days. If you’re not familiar, iBio offers its customers’ contract development and manufacturing services related to the biotech sector. Additionally, it produces therapeutics such as, IBIO-100 which is one of its candidates for the treatment of scleroderma and related disorders. And lastly, the company is working on IBIO-200 and IBIO-201, both of which are in preclinical research for the prevention of severe acute respiratory syndrome caused by COVID-19 infection. This is one of the main reasons that so many investors are paying attention to IBIO stock right now.
On November 29th, the company released an update for IBIO-202, its lead COVID-19 vaccine program. This announcement comes in light of the new Omicron variant of the coronavirus. On the 26th, the World Health Organization’s technical advisory group on SARS-CoV-2 Virus Evolution classified it as a variant of concern. iBio believes that the N protein is an important target for next-gen COVID vaccines. And as a result, it could become a larger player in the race to end Covid.
“The emergence of Omicron has strengthened our belief that a next-generation vaccine development strategy such as iBio’s, which targets the genetically more conserved nucleocapsid, or N, protein rather than the mutable S protein, is needed to help overcome this pandemic.”
Chairman and CEO of iBio, Tom Isett
The company is looking forward to having productive interaction with regulators and other groups related to over-reliance on S-protein vaccines. Noting this new update, will IBIO be on your penny stock watchlist?
Palatin Technologies Inc. (NYSE: PTN)
Palatin Technologies Inc. is a biotech penny stock that has made some incredible gains in the past few days. Over the last five, shares of PTN stock have shot up by a staggering 131%, which is no small feat. This company develops targeted receptor-specific therapeutics in the United States. One of its lead candidates is Vyleesi which is for treating premenopausal women with hypoactive sexual desire disorder. Additionally, it is developing oral PL8177 for treating inflammatory bowel diseases.
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On November 15th, the company reported its first-quarter results for the fiscal year 2022. The company’s gross product sales during the quarter for Vyleesi reached $1.4 million compared to $809,100 the previous year. Vyleesi also generated net product revenue of $159,482 during this period compared to negative net product revenue of -$288,560 the previous year. These numbers are very positive and show solid growth for Palatin.
“I am excited with the significant advancement of our melanocortin agonist programs and their differentiating product profiles, which include the expected initiation of a Phase 3 pivotal study of PL9643 in patients with dry eye disease next month, and a Phase 2 clinical trial of PL8177 for ulcerative colitis in the first half of calendar year 2022”.
The President and CEO of Palatin, Carl Spana
Amid this new six-month high for PTN stock, will it make your penny stocks watchlist in December?
Qualigen Therapeutics Inc. (NASDAQ: QLGN)
Another major recent gainer that investors have been paying attention to is QLGN stock. Despite a small correction, shares of QLGN have climbed by almost 60% in the past five days. If you’re not familiar, Qualigen Therapeutics Inc. is a biotech corporation that creates novel therapeutic products. Primarily, the company’s products are used to treat various types of cancer.
It also has a flagship diagnostic platform called FastPack. Its FastPack line of products is FDA-cleared and CE-Marked and has been in use for 20 years. Some of the products in its therapeutics pipeline include QN-247 and RAS-F. On November 29th, Qualigen announced an $8.82 million common stock registered direct offering. The company entered into definitive agreements with institutional investors for the purchase and sale of 5,880,000 shares of its common stock at $1.50 per share. This share price of $1.50 is pursuant to a registered direct offering.
The closing of that offering is expected to take place on or about December 1st, 2021. The sole placement agent for this offering is A.G.P./Alliance Global Partners. In the last 30 trading days, QLGN stock has increased from $1.16 per share on average to $1.58 per share on average. Noting this new information, is QLGN a contender for your list of penny stocks to watch?
Which Biotech Penny Stocks Are You Watching Right Now?
Finding the best biotech penny stocks to buy can be challenging with so many to choose from. However, because of the sheer number of options, there are plenty of opportunities to make money with penny stocks in 2021.
With biotech, it all comes down to understanding exactly how the market is moving and how to take advantage. Considering all of this, which biotech penny stocks are you watching right now?