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Oct. 18, 2021, 9:50 a.m. EDT

Penny Stocks To Watch Today As Buying Drives ADMP, IO, LPCN & Others

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    Adamis Pharmaceuticals Corp. (ADMP)
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    Lipocine Inc. (LPCN)

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Monday morning, Lipocine announced that it entered into a licensing agreement with Antares Pharma. The two plan on commercializing the platform for testosterone replacement therapy in the U.S. Thanks to the new deal, Lipocine is entitled to receive $11 million in case, an additional $5 million licensing payment in January 2025, and another $5 million the year after. Sales-based milestones could also amount to as much as $160 million plus tiered royalty payments up to 20% on net sales.

In addition to this deal, Lipocine also offered Antares the option to license its TLANDO XR platform, another testosterone replacement therapy, for commercialization. If exercised, this would present a deal giving $4 million in license fees to Lipocine and up to $35 million in milestone payments and royalties of up to 20% on net sales.

4. Progenity Inc.

Progenity is one of the penny stocks we frequently discussed this quarter. The company is developing products for molecular testing. The company has worked on advancing things like its Preecludia [TM] test to rule out preeclampsia in pregnant patients. A recent study demonstrated that Preecludia could "significantly distinguish" between the presence and absence of preeclampsia.

Earlier this month, Progenity announced several patents granted by the US Patent & Trademark Office, strengthening its IP in ingestible therapeutic technologies. In addition to that, new analyst coverage from HC Wainwright last week sparked some optimism in the market. The firm slapped a Buy on the stock as well as a $4 target.

Read more:Hot Penny Stocks You Need to Know About Right Now

There were no immediate headlines posted during premarket hours. However, shares of PROG stock jumped above $2.30. One of the other items that traders have monitored closely regarding this penny stock is its short interest. The bullish trend in " short squeeze stocks " has become a mainstay in the market. Whether or not this is one of the drivers is to be seen. However, the early trading action seems to have caught some attention in the stock market today.

5. Farmmi Inc. /zigman2/quotes/207937522/composite FAMI +6.31%

Another frequent name on our list of penny stocks is Farmmi Inc. The company specializes in fungus. In particular, its product portfolio includes gourmet mushrooms. Farmmi also has expanded its reach via other operating arms. These include Jiangxi Xiangbo Agriculture and Forestry Development company which sells bamboo, Chinese fir trees, and Camellia oil came with this purchase. Farmmi also established several subsidiaries focused on health and wellness.

Headlines sparked an early rip in FAMI stock. The company announced that its healthcare subsidiary, Zhejiang Farmmi Biotechnology Co, was awarded several compliance certificates for food safety and processing. In response, CEO Yefang Zhang explained, "Given the stringent review process, many international buyers now rely on these certifications instead of individual customer audits. As a result, we place a high priority on compliance in all of our daily business decisions across our entire operation."

Penny Stocks To Watch

When it comes to finding penny stocks to buy, knowing what's driving momentum is essential. These are a handful of names moving early this week, and given recent trends in the stock market, they could be ones to watch right now.

COMTEX_395426924/2643/2021-10-18T09:50:02

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/207937522/composite
US : U.S.: Nasdaq
$ 1.18
+0.07 +6.31%
Volume: 916,451
June 27, 2022 4:00p
P/E Ratio
17.61
Dividend Yield
N/A
Market Cap
$24.77 million
Rev. per Employee
$586,417
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