Over the course of the past decade or so, the biotech sector has emerged as one of the best sectors to watch. The simple reason for that is the fact that a large number of biotech companies have managed to come up with excellent products.
Breakthrough treatments and novel drug pipelines have stood the test of time. Even during global market unrest, the biotechnology sector seems to persevere.
[READ MORE] What Curing Cancer & HIV Could Mean for This Company, Its Investors & The World!
The sector continues to produce such opportunities and it is a safe assumption that it isn’t going anywhere anytime soon. However, in order to make the right choice, you need to watch the market closely. Here is the low down on 3 biotech penny stocks to know about this month.
Biotech Stocks To Watch In October: GT Biopharma Inc. (GTBP)
This company’s stock made new 3 month highs on October 22. GT Biopharma (GTBP) announced that its solid tumor targeting TriKE killed a non-small cell lung cancer tumor cell. This is major development news for the company’s TriKE platform because the market potential for non-small lung cancer is big.
Non-small lung cancer accounts for 84% of all lung cancer diagnoses. Shareholders clearly felt this way, which may have been why GT Biopharma’s stock shot up by more than 25%.
There could be another potential reason why stockholders are reacting this way to the recent news. Earlier in October the company announced that the design of HIV-TriKE was able to successfully target the HIV-Env protein.
This would allow the company’s TriKE technology to eliminate replicating HIV infected cells. Because of the success of TriKE with lung cancer cells, investors might feel that the company will be able to successfully destroy HIV cells. For more on GT Biopharma’s novel treatment pipeline and progress, click here.
Biotech Stocks To Watch In October: Obalon Therapeutics Inc. (OBLN)
There are many things that plague developed countries and two of them are opioid addiction and obesity. Obalon Therapeutics Inc. (OBLN) is a medical technology company looking to tackle this obesity problem. In order to do this, the company created a swallowable, gas-filled intragastric balloon system that treats obesity. This system is a first of its kind and is the only FDA-approved system.
The last 2 trading sessions have been extremely successful for Obalon’s stock price. The price has risen from $1.7839 to $2.15, a 19% increase. Per usual, this gain is thanks to some recent penny stock news surrounding the company.
Obalon announced that it treated its first patients at its weight loss treatment center in California. This allows potential patients to directly receive treatment from the company itself.
Biotech Stocks To Watch In October: Vermillion Inc. (VRML)
The final company we will be discussing is Vermillion Inc. (VRML). Vermillion is a medical diagnostics company that develops new diagnostic technology tools to help women with serious diseases. The company has received FDA clearance for its 2 vitro diagnostic tests OVA1 and Overa (an upgraded OVA1).
Vermillion has been extremely successful since its trading session on October 15th. The company’s stock is up nearly 56.4% since the 15th and has only pushed higher on October 22nd.
This strong momentum is expected to continue thanks to the strong influx of volume the penny stock has been experiencing. Recently, the company stated that it plans to announce its Q3 financials on November 12th.
Disclaimer: Pursuant to an agreement between Midam Ventures LLC and GT Biopharma (GTBP), Midam has been paid $100,000 for a period from October 1, 2019 to November 15, 2019. We may buy or sell additional shares of GT Biopharma (GTBP) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about GT Biopharma (GTBP). Click Here For Full Disclaimer.
