9 Biotech Penny Stocks For Your October Watchlist
Biotech penny stocks have remained some of the hottest small caps to buy over the past year and a half, and there are several good reasons for that. For one, the pandemic has highlighted both the importance of biotech and the potential that it can have. While this initially began as a focus on Covid-related biotech stocks, it continued to shift into a broader overall interest in the biotech industry.
So now with October only a week and a half away, investors continue to search for biotech companies that could be worth buying. And although it may seem too soon to begin making a penny stocks watchlist for October, it is always important to stay ahead. So, how do we know which biotech penny stocks are worth buying? Well, there are a few things to look for.
How to Pick a Biotech Penny Stock to Buy
The first aspect to look out for with a biotech stock may seem obvious, but it is often a step that many forget. That is, looking at what the company does and what products it has in its pipeline. While some companies have a large variety of either pharmaceuticals, medical tech products, or a combination of both, others focus on only one or two compounds or products.
With this, it is important to differentiate the two and explore the demand for the product itself. In addition, investors should have a thorough understanding of the timeline for the product in terms of approval, trials, and so on.
The next factor to consider is funding. Often, biotech companies will engage in large funding rounds to help with the cost-prohibitive nature of producing a pharmaceutical or medical device. This can be done through stock offerings, capital raising measures, and more.
But, it is extremely important to look at the company’s balance sheet to see how much cash it has on hand and what, if any, fundraising it has done. It’s worth noting that this is a continuation of Best Penny Stocks To Buy Right Now? 5 Biotech Stocks For Your List.” So, considering all of this, let’s take a look at four more biotech penny stocks to watch.
4 More Biotech Penny Stocks to Watch Right Now
- BIO-key International Inc. (NASDAQ: BKYI)
- Dare Bioscience Inc. (NASDAQ: DARE)
- iBio Inc. (NYSE: IBIO)
- Rewalk Robotics Ltd. (NASDAQ: RWLK)
BIO-key International Inc. (NASDAQ: BKYI)
One of the bigger gainers of the day so far is BKYI stock, pushing up by over 14% at midday. While trading for BIO-key has been mostly stable over the past year, shares have begun to spike in the past week or two.
Today’s gain is likely due to news released during pre-market on September 21st. The company stated that it has entered into a partnership with Intelisys Communications Inc., a ScanSource (NASDAQ: SCSC) company. The goal of this partnership is to create a Master Agent…