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Hot Biotech Penny Stocks to Watch With Big News Right Now

These 3 Biotech Penny Stocks Could Be Worth Looking Into 

Over the past year and a half, biotech penny stocks have remained some of the hottest small caps for investors of all types. And, there are a few reasons why this is the case. First and foremost, biotech penny stocks present a great deal of opportunities to investors. 

As a result of frequent updates and press releases, we often see massive spikes (and dips) with biotech penny stocks during intraday trading. And, this presents a lot of potential for investors to make money. 

[Read More] Why The Stock Market Is Down Today & 3 Penny Stocks To Watch Now

In addition to this, the biotech industry is front and center right now, with leaders like Moderna Inc. (NASDAQ: MRNA) and Pfizer Inc. (NYSE: PFE) pushing up as a result of Covid-19. With the pandemic still occurring at a high degree, many investors are intent on finding the best penny stocks to buy in the biotech industry. And with so many to choose from, the options are plentiful. Considering this, let’s take a look at three biotech penny stocks to watch right now.  

3 Biotech Penny Stocks to Watch Right Now 
  1. Opko Health Inc. (NASDAQ: OPK
  2. Conformis Inc. (NASDAQ: CFMS
  3. Sesen Bio Inc. (NASDAQ: SESN
OPKO Health Inc. (NASDAQ: OPK)

OPKO Health Inc. is a biotech stock we have mentioned on this site previously due to its momentum in the market. If you’re unfamiliar with OPK, let’s get you up to speed. This company’s primary focus is on the production of diagnostics and pharmaceuticals for the healthcare industry. For example, it operates BioReference Laboratories for lab testing services. This includes offerings such as detecting, evaluating and monitoring diseases. With Covid emphasizing the diagnostics industry right now, OPKO Health and BioReference are both seeing increased attention in 2021. 

On August 16th, BioReference Laboratories announced that it had acquired the U.S. Ariosa’s centralized laboratory prenatal testing business from the company Roche. Ariosa’s noninvasive prenatal screening test has been used by more than 1.5 million patients around the world. This is a big deal and adds another layer of potential to OPKO if it can continue to commercialize this product. 

“Acquiring the U.S. Ariosa centralized laboratory prenatal testing business allows us to expand our NIPS offerings and further underscores our commitment to prenatal screening, allowing BioReference and GenPath to advance high quality and accessible testing that positively impacts the medical care and outcomes of patients and their families.”

Executive Chairman of BioReference Laboratories, Jon R. Cohen

While it may take some time for the company’s share price to realize this addition to its product portfolio, there’s no doubting that this is exciting news. So, with this new information in mind, will you add OPK to your penny stocks watchlist?

Penny_Stocks_to_Watch_OPKO_Health_Inc._(OPK_Stock_Chart)Conformis Inc. (NASDAQ: CFMS)

Conformis Inc. is a biotech penny stock that is seeing a sizable amount of bullish sentiment right now. In the past month, shares of CFMS stock have increased by around 15%, and YTD, that number jumps to over 104%. This company creates joint replacement implants for the healthcare industry. It offers various products such as iDuo, iTotal CR, iTotal PS, and more.

These products are sold to orthopedic surgeons and medical facilities among others. While this may seem like a saturated market, Conformis produces customizable implants as opposed to traditional off-the-shelf products. This means that outcomes can be much better, and patients can be more at ease. 

[Read More] Best Penny Stocks to Buy Now? 3 That Traders Are Watching in August

On August 4th, Conformis reported its second-quarter financial results for 2021. The company’s total revenue was $56.3 million, which represents an increase of 189% year over year. This is huge news for the biotech company and its investors. In addition to these positive results, the company’s product revenue went up 56% year over year to $15.2 million. Both of these numbers show that Conformis is growing right now, and could continue to do so in the long term. 

“We had another steady quarter of progress as we executed our growth strategy. The environment for orthopedic surgical procedures has improved and we believe procedure levels will continue to normalize.”

Mark Augusti, the President, and CEO of Conformis

When this was announced, shares of CFMS stock shot up by around 5%, showing both the bullish sentiment on CFMS stock and its relative volatility. Keeping this new info in mind, will CFMS make your list of penny stocks to watch in August?

Penny_Stocks_to_Watch_Conformis_Inc._(CFMS_Stock_Chart)Sesen Bio Inc. (NASDAQ: SESN

Up by around 27% today are shares of the biotech company, Sesen Bio Inc. Following a major 75% drop in value in only three days or so last week, shares of SESN stock are once again on the rise. To understand if SESN stock is worth buying, let’s take a look at why shares dropped only a few days ago. Last week, the FDA responded to the companies submission for its drug Vicineum. 

And in a CRL or Complete Response Letter from the FDA, the agency stated that it could not accept the submission ‘in its present form’. Because this compound is what most investors are riding on for SESN stock right now, it makes sense why shares dropped so sharply. And while this news is disheartening to some extent, it isn’t out of the blue or irregular. Notices like these happen frequently, and it simply means that the company has to go back and tweak a few things. 

The CEO of Sesen Bio, Thomas Cannell stated that “We remain dedicated to our mission to save and improve the lives of patients by bringing new treatment options to patients, and we intend to work closely with the FDA to understand next steps.” So, while this is not the end of the line for Sesen Bio, it is understandably a setback. Now, investors are hoping that Sesen can understand why the application was not approved, and move forward to turning it around. So, with all of this in mind, will SESN stock be on your penny stocks watchlist?

Penny_Stocks_to_Watch_Sesen Bio Inc. (SESN Stock Chart)Why Biotech Penny Stocks Are So Popular Right Now

Throughout the Covid pandemic, biotech penny stocks have continued to be at the forefront of investors’ minds. While volatility is high in this industry, there are plenty of ways to make money with penny stocks in the biotech field.

[Read More] 4 Trending Penny Stocks On Robinhood You Should Watch Right Now

Understanding what a company does and what it has plans to do in the future will help to show whether or not it has value in the short or long term. And, spending time researching every penny stock on your list will always be a major benefit. Considering all of this, it’s no wonder that biotech penny stocks are so popular right now. 

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