Jan 06, 2021 (Penny Stocks via COMTEX) -- 3 Penny Stocks To Watch Gaining Interest From Biotech Traders
As 2021 gets off to a wild start for the market, penny stocks have become a clear focus. Much of the momentum driving these stems from larger trends in the overall market. For instance, we saw today the riots in the Capitol. This has seen several companies with exposure to defense and security spike. Will that trend continue? As we've seen previously, these tend to come and go with headlines. But the fact remains, which is speculation plays a larger role in smaller stocks.
In light of this, anyone currently following penny stocks in related industries should keep this in mind. But it isn't just excitement with defense stocks right now. We've still got plenty of macro details to keep track of. Not only have new strains of COVID been found, new vaccines are also being distributed. This has traders focusing on other sets of penny stocks. These include things like epicenter and biotech stocks.
So how should traders go about the market right now? In my opinion, cautiously. When it comes to penny stocks we've seen exactly how quickly things can change. Just this week, attention on bitcoin and blockchain stocks stoked the fires of some "no-name" companies that just so happened to have old PR's mentioning the topic. Needless to say, traders still tried to make money with those penny stocks. Heading into the back half of the week, for now, some biotech stocks have grabbed attention. Will they be on your watchlist before next week?
Biotech Penny Stocks to Watch
Sesen Bio Inc. ( SESN Stock Report )
Opko Health Inc. ( OPK Stock Report )
Oragenics Inc. ( OGEN Stock Report )
This is a penny stock that we've covered many times in the past few months. On Wednesday, shares of SESN stock shot up by around 15% by midday trading. In the past six months, the penny stock is up by more than 110%. So why this big gain in a relatively short period of time? Well, to understand this let's first take a look at what Sesen Bio does. The company operates as a late-stage clinical biopharmaceutical company working on treatments for cancer. The company's lead product known as Vicineum, is currently in a Phase 3 trial to see its efficacy in treating bladder cancer. In addition, the company has several other drugs that are in its pipeline. A few weeks ago, Sesen Bio submitted a completed biologics license application to the FDA for Vicineum.
The CEO of Sesen Bio, Dr. Thomas Cannell, stated that "there remains a significant unmet need for high-risk NMIBC, and we believe the differentiated clinical profile of Vicineum will provide best in class option for physicians and their patients. Our strong non-clinical and clinical data, in addition to our positive comparability data, give us confidence in the regulatory path forward."
While covid has had an impact on daily operations at Sesen Bio, it seems as though the company has managed to continue moving forward. With this approval process currently underway, Sesen Bio could be one of the biotech names to note right now.
Another penny stock that we have focused on in the past few months is Opko. While there've been plenty of things to track with Opko, the last few quarters have seen several key milestones for the company. In the first nine months of 2020, OPK reported that revenue shot up by around 50%. The company worked early on to move into the covid testing space. In September, the company's BioReference Labs began working with New York City to COVID-19 PCR test principals, teachers, and staff in preparation for a safer back-to-school environment. However, the more recent focus of traders has been on the company's involvement with Pfizer and the somatrogon growth hormone treatment.
Earlier this week the two announced that the FDA accepted their regulatory submission for the treatment. Now it's going to come down to the Prescription Drug User Fee Act (PDUFA) action. The action date of this isn't set until October of this year. However, it does give something for traders to keep a watchful eye on throughout the year. Next week the company participates in the J.P. Morgan Healthcare Conference to kick-start the 2021 investor conference season. Opko will be presenting on Wednesday.
Finally, Oragenics Inc. is another familiar face that has begun trending again recently. The company is currently working on the production of its Terra CoV-2 vaccine candidate. The goal of this is to develop new vaccines and treatments to help fight against COVID. Obviously, this area of the biotech industry is quite saturated at this point. But, with COVID cases still rising dramatically, there's no shortage of interest on stocks with exposure to this segment of the market.
Recently, Oragenics embarked on a fundraising plan to help provide new capital for the research and development of this vaccine. Last week, it announced that it had closed on a direct offering of 14.44 million shares of common stock. With this, it closed a $6.5 million funding round.
The company states that these funds will go directly to the preclinical development of its COVID-19 vaccine as well as for its other programs. Additionally, Oragenics stated that with this funding, it should be able to complete various preclinical studies by the first quarter of this year. If all goes in a timely manner, Oragenics explained that it should initiate a Phase 2/3 trial by the end of this year. In an industry that is currently moving at light speed, Oragenics is one of the many moving parts in the fight against COVID.
If you're new to trading penny stocks there are a few things that might help get you started on the path of education.
Get a quick intro to penny stocks - Penny Stocks Trading for Beginners 
Want an in-depth look at how to research? - The Beginner's Handbook For Trading Penny Stocks
What Were The Top Penny Stocks Of 2020? - 5 Top Penny Stock Picks In 2020 Traders Watched Explode To New Highs
There's plenty of things you can do to learn how to trade penny stocks effectively, efficiently, and become consistently profitable too. Take your time and even try trading with a simulator first in order to hone your skills before using real money.
Is there a problem with this press release? Contact the source provider Comtex at firstname.lastname@example.org. You can also contact MarketWatch Customer Service via our Customer Center.