3 Biotech Penny Stocks to Add to Your December 2021 Watchlist
Investing in penny stocks and blue chips has never been more action-packed. With inflation, the Omicron variant, and other factors to consider, investors are inundated with movement that can be capitalized upon. Right now, the largest impacting factor on penny stocks and the stock market as a whole is Covid. With the emergence of the little-understood Omicron variant, traders are on edge right now.
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While Omicron has sparked large market fears, it has also put a major emphasis on biotech penny stocks. This makes sense as there are numerous biotech companies with a sizable role in treating Covid. However, in the past few weeks, we’ve also seen attention on non-Covid related biotech penny stocks, indicating just how much bullish sentiment exists in the market right now.
One thing to keep in mind is that the stock market is incredibly volatile if that wasn’t obvious enough. As a result, keeping your ear to the ground and understanding how the news will impact the market is a great way to stay ahead. So, with all of this in mind, let’s take a look at three biotech penny stocks to watch right now.
3 Biotech Penny Stocks to Watch Right Now
- iBio Inc. (NYSE: IBIO)
- Palatin Technologies Inc. (NYSE: PTN)
- Qualigen Therapeutics Inc. (NASDAQ: QLGN)
iBio Inc. (NYSE: IBIO)
iBio Inc. is a biotech company that has shot up in value by over 25% in the past five days. If you’re not familiar, iBio offers its customers’ contract development and manufacturing services related to the biotech sector. Additionally, it produces therapeutics such as, IBIO-100 which is one of its candidates for the treatment of scleroderma and related disorders. And lastly, the company is working on IBIO-200 and IBIO-201, both of which are in preclinical research for the prevention of severe acute respiratory syndrome caused by COVID-19 infection. This is one of the main reasons that so many investors are paying attention to IBIO stock right now.
On November 29th, the company released an update for IBIO-202, its lead COVID-19 vaccine program. This announcement comes in light of the new Omicron variant of the coronavirus. On the 26th, the World Health Organization’s technical advisory group on SARS-CoV-2 Virus Evolution classified it as a variant of concern. iBio believes that the N protein is an important target for next-gen COVID vaccines. And as a result, it could become a larger player in the race to end Covid.
“The emergence of Omicron has strengthened our belief that a next-generation vaccine development strategy such as iBio’s, which targets the genetically more conserved nucleocapsid, or N, protein rather than the mutable S protein, is needed to help overcome this pandemic.”
Chairman and CEO of iBio, Tom Isett
The company is looking forward to having productive interaction with regulators and…