Penny Stocks To Buy Now? 6 To Watch With Big News Today

Hot Penny Stocks To Watch

Stocks are trading marginally higher during premarket hours on Monday. The welcome move comes after four big days of selling pressure took broad indexes back to their 50-day moving averages and even lower in cases of the S&P and Nasdaq. Nevertheless, even if the Santa Claus rally isn’t coming, retail traders find opportunities with penny stocks. On any given day, these low-priced shares can explode significantly higher. That includes on days when broad markets are selling off.

Look at last week, for instance. One of the recent reverse-split penny stocks, Cosmos Holdings (NASDAQ: COSM), climbed from sub-$1 levels during Friday’s premarket session to highs of over $23 within a single session. Yes, that means COSM stock rose thousands of percentage points higher while the S&P 500 put in fresh December lows.

Heading into the tail end of the year, we’ve got two weeks of holidays to contend with. But that doesn’t mean companies are stalling on making headlines. Company news is one of the first things most traders will look for when making a penny stocks watch list. This article looks at a handful of companies gaining momentum after releasing new updates at the start of the week.

Penny Stocks To Watch With News

Soleno Therapeutics (SLNO)

Shares of SLNO stock are trading higher on Monday thanks to financing news. The clinical-stage biotech company announced a new Securities Purchase Agreement with Nantahala Capital Management, Abingworth LLP, and Vivo Capital for up to $60 million. Funds are expected to help Soleno progress its drug pipeline, including its C602 candidate, in treating Prader-Willi Syndrome.

The investors committed to paying $10 million in exchange for warrants to purchase SLNO stock upon the announcement of Soleno’s enrollment completion in the C602 study. That event is expected to come next quarter.

CEO Anish Bhatnagar, M.D., also explained, “This commitment from top-tier investors is a significant demonstration of confidence ahead of expected data from the randomized withdrawal period of Study C602 in mid-2023. It strengthens our balance sheet both near and longer term and supports continued preparation for our planned New Drug Application submission, as well as the acceleration of commercial readiness activities.”

It’s also worth noting that SLNO is one of the lower-float penny stocks on the list. So volatility could play a role in the market.

AGM Group Holdings (AGMH)

Another low-float penny stock on this list is AGM Group Holdings. The fintech company announced its first half of 2022 financial results on Monday. Included in these financials were record revenue and profitability. Specifically, total revenues were $113.6 million, which was over 200% higher than the same time last year. Gross profit and net income also rose significantly over the last year, with increases of 227.3% and 313.6%, respectively.

Despite seeing a decline in cryptocurrency and blockchain technology-related interest, AGMH stock popped following the recent news. With a float of fewer than 20 million shares, it could also be one of the names where higher volatility comes into focus.

Ensysce Biosciences (ENSC)

Ensysce Biosciences is no stranger to volatility. Over the last month, it has seen an uptick in daily trading volumes with price spikes as high as $4.71. After becoming a sub $1 penny stock in December, questions have been raised as to whether or not it can recover after a capital raising-induced sell-off that gave the company over $4 million but also added 2.9 million shares into the mix.

This week, those questions may have been answered after Ensysce’s latest round of headlines. The company reported data from its PF614-MPAR-101-Part A study. The pain relief treatment demonstrated opioid overdose protection, which sparked a favorable reaction in the stock market today. Shares popped back above the $1 level in the midst of Monday’s stock market momentum. Now attention is on the next step which could come in 2023. Specifically, “in early 2023, the final formulation selected from this study will be evaluated as increasing dose units of PF614-MPAR in a group of healthy subjects in Part B of the study.”

Innate Pharma (IPHA)

It isn’t on the list of low float penny stocks. However, Innate Pharma has caught some steam at the start of the new week. The biotech company recently presented data at the ASH 2022 conference related to its TELLOMAK Phase 2 trial of its lacutamab treatment. The platform demonstrated “clinical activity and a favorable safety profile” in patients with advanced Sézary syndrome; a type of T cell lymphoma.

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This week’s headlines continued sparking attention on the penny stock thanks to an update involving Sanofi. The two will expand collaboration for natural killer cell therapeutics in oncology. Under the new agreement, Innate received 25 million euros up front and up to 1.35 billion euros in potential preclinical, clinical, regulatory, and commercial milestones. There are also potential royalties on net sales.

Assembly Biosciences (ASMB)

Shares of Assembly Biosciences are trading higher in the stock market today thanks to interim clinical trial data. The company announced “promising” results from two studies evaluating its inhibitor candidates, ABI-H3733 and ABI-4334.

Jason Okazaki, president and chief operating officer and CEO-elect of Assembly Bio, explained, “With 100 mg cohorts of both 3733 (28-day dosing) and 4334 (single dose) underway, we are eager to see and share data in early 2023 that we anticipate will drive the optimal dose selection to maximize activity against both mechanisms of action. While early, we believe the interim results in both studies are an encouraging indication that the preclinical potency documented for our next-generation core inhibitors against the second mechanism of cccDNA formation will translate into the clinic with longer-term dosing.”

LianBio (LIAN)

Another biotech company making headlines with an industry leader is LianBio. Shares of the penny stocks traded higher on Monday following news that included Pfizer (PFE). It opted into LianBio’s right to develop and commercialize sisunatovir in China. The platform is for addressing respiratory syncytial virus (RSV), which has made medical headlines recently.

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Jean-Christophe Pointeau, China President for Pfizer Global Biopharma Business, said, “We believe that, if clinically successful and approved, sisunatovir may help change the standard of care for patients with RSV disease, for whom treatment options are currently limited.”

List Of Penny Stocks To Watch

• Soleno Therapeutics (NASDAQ: SLNO)
• AGM Group Holdings (NASDAQ: AGMH)
• Ensysce Biosciences (NASDAQ: ENSC)
• Innate Pharma (NASDAQ: IPHA)
• Assembly Biosciences (NASDAQ: ASMB)
• LianBio (NASDAQ: LIAN)

The post Penny Stocks To Buy Now? 6 To Watch With Big News Today appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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