As another week of trading penny stocks commences, the options for making your watchlist are endless. Because there are thousands of penny stocks to watch, investors need to be picky when looking for the right one to buy. Now, it’s not enough to just find penny stocks due to an interesting business model. Rather, we have to consider the current trends, speculative factors affecting a company, and its fundamentals.
Any pro-trader will tell you that research is the most important part of creating a penny stock watchlist. And, that isn’t any coincidence. While knowing your stuff is important, investors need to understand what factors will impact penny stocks short term and long-term prices. Right now, there are some extraordinary aspects to consider. This includes the effects of the pandemic, potential long-term inflation in the U.S. economy, and lower than average trading volume.[Read More] Trading Penny Stocks This Week? 3 For Your April 2021 Watch List
Also, we have to consider other factors such as the impact of the recent big moves in the cryptocurrency industry. This includes large swings in the price of cryptos such as Dogecoin and Ethereum among others. Because cryptocurrency and penny stocks tend to be closely related, this is an additional area to consider. And, with a new week upon us, there could be more aspects to think about. So, as we turn the corner in April, which penny stocks are investors watching today?3 Penny Stocks to Watch Right Now Zosano Pharma Corp. (NASDAQ: ZSAN)
Zosano Pharma is a clinical-stage biotech penny stock working on a range of products to help deliver medicines in a faster and more efficient way. This includes its transdermal microneedle system, which utilizes microneedles made of titanium, and then coated in a given drug.
This product allows for a cost-efficient way to rapidly deliver medicines and therapeutics to patients. Currently, Zosano’s lead product candidate is Qtrypta or M207. This is a product using its proprietary formulation of zolmitriptan, which can be delivered using its transdermal microneedle technology for the acute treatment of migraines.
Zosano made headlines during pre-market hours on April 26th, after announcing the confirmation of its plan to move forward with a pharmacokinetic study. This study can now continue given proper feedback from the FDA Division of Neurology.
Anytime a biotech company receives approval or notification from the FDA, it tends to be big news. Additionally, Zosano announced the establishment of an agreement with Worldwide Clinical Trials, to conduct this study. The pair plan to begin in June of this year, where it can then hopefully submit a New Drug Application or NDA for Qtrypta by the end of this year.[Read More] Penny Stocks to Buy Under $2 On Robinhood, Are They Worth It?
Donald Kellerman, VP of Clinical Development and Medical Affairs at Zosano, stated that “we believe that this study can be executed quickly and will address the last remaining clinical request from FDA regarding the resubmission of our NDA for Qtrypta. We look forward to initiating and completing the PK study, ultimately resubmitting our NDA and, if approved, potentially making Qtrypta available broadly.” Considering this exciting news, will you be adding ZSAN to your penny stock watchlist?MICT Inc. (NASDAQ: MICT)
MICT is a tech penny stock working through its subsidiaries GFH Intermediate Holdings Ltd. and Micronet Inc. Through these, it has become a leader in the global financial tech or fintech market. Its primary business model includes online brokerage of equities trading, insurance sales, user database management, telematics, and mobile resource management. Additionally, Micronet designs and develops mobile computing products, used for those working in the field. Only a few weeks ago, MICT announced its fourth quarter and full-year 2020 results.
Balance sheets are always important to look at, as they provide a glimpse into a company’s fundamentals. For this reason, let’s take a closer look. During the year, MICT managed to bring in revenue of $1.2 million. This represents almost triple what it brought in during the year prior. Of that $1.2 million, roughly $824,000 was generated in the fourth quarter alone.
2020 was a major year for the company, where it completed the acquisition of GFH Intermediate Holdings Ltd. Additionally, it ended the year with almost $30 million in cash on hand. It’s worth noting that so far in 2021, the company has already completed $114 million in fundraising. This should help to sustain it into the foreseeable future.
“The 2020 year was pivotal for MICT as we made the transition from telematics to fintech in the China and Southeast Asia market, and established a significant cash balance to execute and support this strategy.
Whilst the year presented an overall loss, this can be balanced by the very significant one-off costs necessary to achieve the acquisitions that formed the basis of our go-forward strategy, and we began to reap the benefit of those investments at the end of the year.”Darren Mercer, the CEO of MICT Inc.
Looking at this information, it’s up to you to decide if MICT is right for you.Aeterna Zentaris Inc. (NASDAQ: AEZS)
AEZS is another biopharmaceutical company, but it operates differently from Zosano Pharma. The company works in the commercialization of therapeutics and diagnostic testing. Currently, its lead product is macimorelin. This is the first and only FDA and European Commission-approved oral test for diagnosing adult growth hormone deficiency.
This product is sold via a licensing agreement with Novo Nordisk, where Aeterna receives a large number of royalties on net sales of the product. Additionally, it has an ongoing commercialization and supply agreement with MegaPharm Ltd., which will work to commercialize macimorelin in Israel and the Palestinian Authority.[Read More] 4 Penny Stocks On Robinhood To Buy Under $1; 50%-270% Price Targets
If all that isn’t enough, it also has an established licensing agreement with Consilient Health Ltd. to market and distribute this product in Europe and the United Kingdom. In its most recent balance sheet for the fourth quarter and full-year 2020 results, the company posted strong revenue growth as well as $20 million in proceeds from the exercise of warrants.
Klaus Paulini, CEO of Aeterna, stated that “one of our key objectives over the past year was to advance our goal of maximizing the value of macimorelin and to expand our pipeline with multiple development programs. I am extremely pleased that we have been successful in progressing our goals across multiple fronts.”
During the year, it also closed on a bought deal offering of $34.2 million worth of common shares. Looking at this data, we see that Aeterna should have enough funds to continue operations for its pipeline of compounds. And, a well-funded biotech company is always something that could create opportunities for investors. Considering this, is AEZS a penny stock to watch?