TRVN - What Are The Hottest Penny Stocks Right Now? 3 Names To Know
3 Penny Stocks To Watch After Recent Updates
Here we are, looking for penny stocks at the end of another month and another week. October has been one of the most volatile months since March. I’m sure plenty of you are ready to say bon-voyage and get on with the year. But keep in mind, next week we could possibly have one of the biggest catalysts of the year. I, for one, have been waiting for the last few months to see how the election unfolds and what the market response will be. Some have said that both presidential scenarios have already been priced into the market. But I think there’s still plenty of speculation to account for.
The final days of the month have been full of big swings. Yesterday alone we saw a supposed recovery in the market only to then see that crumble after the market closed. Overnight, the S&P ( SPY ETF ) dropped further with early trading seeing lows of $323.08. While the market has rebounded a big prior to the opening bell, things are still relatively fragile. The expectation was that big tech would help boost broader markets. This wasn’t the case despite many companies reporting strong earnings results for the third quarter.
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What we are seeing is a surprise recovery in the energy industry. New data has also suggested that consumers are spending. U.S. consumer spending increased more than expected in September. These figures rose 1.4% last month, which continued the 1% gain in August. Analysts forecasted September’s figure to come in at 1%. But with a resurgence in COVID-19 cases this week, will that dampen some of the upbeat sentiment early next month?
Penny Stocks To Watch: GT Biopharma Inc.
GT Biopharma Inc. ( GTBP Stock Report ) continues experiencing higher than average volume in October. This echoes the sentiment from the end of September when GTBP stock first began seeing an uptick in market action. Was there a catalyst to this? If you take a look at the headlines from last month, you’ll see that the data released from the company’s Dose Level 3 became a key point of interest.
I don’t want to get into a history lesson on GTBP stock, however, favorable results from any part of a phase trial are notable. In this case, its acute myeloid leukemia candidate, GTB-3550 showed a favorable response including a decrease in AML blast levels. Interim results from the company’s Phase I/II GTB-3550 trial were chosen for presentation at the upcoming ASH Conference.
What To Watch With GTBP Stock
Fast-forward to the end of October and GT Biopharma has begun putting a bigger focus on its treatment platform, in general. GT’s TriKE™ technology is the backbone of the company’s pipeline. GT began inking deals this month. Most recently, it expanded its TriKE™ partnership with Cytovance Biologics. Cytovance will be the exclusive GMP manufacture for three of the Company’s TriKE™ therapeutic product candidates using Cytovance’s proprietary Keystone® bacterial or mammalian expression systems.
In its last update, GT Biopharma announced the publication of “NK-Cell-Mediated Targeting of Various Solid Tumors Using a B7-H3 Tri-Specific Killer Engager In Vitro and In Vivo”. This was in the journal Cancers . B7H3 is highly expressed on the surface of several types of cancers and when targeted by the company’s TriKE™ the findings were favorable. GT found that it has the potential to enhance natural killer cell immunotherapy in solid tumor settings supporting further clinical development.
Penny Stocks To Watch: BioLineRx Ltd
BioLineRx Ltd ( BLRX Stock Report ) has been a relatively quiet penny stock over the past several weeks. Earlier this year we saw BLRX stock climb around times that the company released earnings results. Along the way, BioLineRx has raised millions to fund clinical trials. At the end of August, the company achieved its enrollment target for a Phase 3 GENESIS trial investigating its motixafortide (BL-8040) for the mobilization of hematopoietic stem cells (HSCs) for autologous transplantation in patients with multiple myeloma. The company also said that interim data was expected during the second half of the year.
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Jump ahead to this month and not only has BioLineRx begun another phase trial for pancreatic cancer, but it also delivered those interim results this week. BioLineRx announced positive results from interim analysis of its GENESIS Phase 3 trial. Specifically, the company said that results were significant and that this form of treatment represented a “significant unmet medical need” in multiple myeloma.
What To Watch With BLRX Stock
Obviously, this news sparked a big rally in shares early in the day on Friday. With that will come potential sell-off risk. As we’ve seen with plenty of penny stocks gapping up premarket, there might be a totally different trend when the bell rings. Aside from this, the full results for the study are expected to be announced during the first half of 2021.
Furthermore, that Phase 2 trial for pancreatic cancer. While data isn’t expected until 2022, we’ll have to see if there is any interim information to discuss.
Penny Stocks To Watch: Trevena Inc.
We discussed Trevena Inc. ( TRVN Stock Report ) yesterday in light of something that wasn’t, well, being discussed. In the article, “ Looking For The Best Penny Stocks To Buy Now? 3 Tech Names To Know ,” we cited a key development. The Federal Register site showed an “unpublished document” referencing “Schedules of Controlled Substances: Placement of Oliceridine in Schedule II”. This pertained the company’s prior update explaining that OLINVYK will be commercially available when the U.S. Drug Enforcement Administration issues its controlled substance schedule.
Friday, Trevena formally announced that oliceridine has been classified as a Schedule II controlled substance by the U.S. Drug Enforcement Administration. The company said that with DEA schedule now complete, Trevena expects to make OLINVYK available for distribution in November.
What To Watch With TRVN Stock
The obvious thing to watch now is what happens in November. Carrie Bourdow , President and Chief Executive Officer of Trevena, Inc. “We made the decision earlier this year to begin manufacturing commercial product, so that physicians could have access to OLINVYK for their hospitalized acute pain patients as soon as possible upon approval and DEA scheduling. We look forward to making OLINVYK available for ordering in November.”
What will be important to monitor will be the TRVN stock chart. Will volume continue at a higher level and can the stock maintain itself at these higher prices. Overall, the penny stock has maintained a relatively strong uptrend with a recent recovery from a multi-week downtrend that began around October 7th.