VERU - The 3 Best Penny Stocks to Buy in February 2024

2024-02-15 07:49:16 ET

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Penny stocks will always provide us with investment opportunities in the event that we do not have a completely high buying power and do not want to buy fractional shares. In the large ecosystem of companies that make life in the financial markets, we can always identify good investment opportunities that allow us to add value to our portfolio and our wealth. Here are three best penny stocks to buy, let’s take a quick look.

Atyr (LIFE)

We begin our list of penny stocks with great potential with Atyr Pharma (NASDAQ: LIFE ), which is in charge of creating innovative treatments, focusing on efzofitimod, which is a unique biologic that is designed to treat inflammation without the need to weaken the immune system.

This treatment is undoubtedly a great hope for patients with severe diseases such as systemic sclerosis.

Financially they have made remarkable achievements. They achieved a solid cash and investment position of approximately $105.6 million.

Thanks to this excellent financial strength, they have been able to continue their research to achieve major clinical milestones, such as the filing of a biologic license application for efzofitimod in pulmonary sarcoidosis.

Their major achievements also include the initiation of the Phase 2 EFZO-CONNECT study, which is focused on patients with interstitial lung disease, which is related to systemic sclerosis.

This study has presented a very crucial advance towards the validation of the treatment as an effective and completely safe therapeutic option.

But they are not stopping there, as they have demonstrated that they are fully committed to their goals and to sharing their breakthroughs with the scientific community. They have presented two posters at the Keystone Symposia.

Palatin (PTN)

We continue with Palatin Technologies (NYSE: PTN ), which operates in the biopharmaceutical world. It has a flagship product called Vyleesi, which is intended to help women with HSDD. This product has experienced a huge increase in demand, which is reflected in revenues as well.

Talking about their finances , this company is very stable and has a steady growth.

As mentioned earlier, they have reported a significant increase in Vyleesi’s gross sales and net income, combined with a decrease in operating expenses.

Part of their latest development , the Phase 3 MELODY-1 trial, which is for dry eye disease (DED), has reached a very significant milestone with the closure of the database.

Positive results from this trial are likely to lead the way for further advances in the company’s pipeline.

Not only do they have that achievement, but they have also strategically entered into an agreement to sell Vyleesi to Cosette Pharmaceuticals for approximately $171 million.

Veru (VERU)

And we round out this list with great potential with Veru (NASDAQ: VERU ), which is a company that also operates in the biotechnology sector and specializes in the development of innovative treatments to address high-quality weight loss, cancer, and ARDS.

As part of its major achievements it has received FDA approval to run a Phase 2b clinical trial on enobosarm, which is an androgen receptor modulator with great potential. This drug is aimed at preserving muscle mass and physical function.

This company has a great focus and dedication to improving the quality of life of patients, and is highlighted all the more by the concern shown by the CDC, who has reported on the high percentage of older adults in the United States suffering from obesity and sarcopenia.

All of their dedication, focus and results are evident in their financial health, where they have had a considerable increase in cash and cash equivalents.

As of this writing, Gabriel Osorio-Mazzilli did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines (no position)

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