When you look for different penny stocks to buy, what do you look for? In most cases, you’re seeking out a catalyst to understand why certain stocks might move or are in the process of moving. Today we focus on precisely that. Whether it’s stock market news, company-specific headlines, rumors, or something else, it’s vital to get a lay of the land, as they say. Understanding the “why” will help you know how to go about your trade.
Today, we’ll discuss one of the top penny stocks trending right now: Clarus Therapeutics Holding Inc. (NASDAQ:CRXT). We take a look into why it might be moving, what was going on beforehand, and discuss any other details that you might be able to use to decide if CRXT stock is worth buying or not.
Hot Penny Stocks Today: What To Know About Clarus Therapeutics Holding Inc. (NASDAQ:CRXT)
An interesting trend in the stock market today deals with biotech stocks. They have not been the stand-outs that investors grew to know and love earlier in the year. Just look at some of the industry leaders like Biogen (NASDAQ:BIIB) or Merck (NYSE:MRK) recently. While BIIB stock has continued to slide, MRK remains in a volatile sideways trend.
Will either manage to reclaim what’s been lost over the last few weeks? Time will undoubtedly tell. But in the meantime, that doesn’t suggest that all penny stocks in the biotech arena should be ignored—case in point, Clarus Therapeutics Holding.
What Does Clarus Therapeutics Holding Inc. (NASDAQ:CRXT) Do?
Clarus Therapeutics Holding is a pharmaceutical company researching androgen and metabolic treatments. In particular, the company’s focus has remained on advancing its JATENZO product. This platform is commercially available as an oral testosterone replacement therapy (TRT). According to the company, it is also the first and only FDA-approved oral softgel capsule for TRT.
CRXT Stock News
As discussed above, sometimes catalysts don’t come in the form of formal news releases. Based on this, it’s essential to have your ear to the ground and pay close attention to anything that could impact certain companies. When we talk about biotech, everything from FDA decisions to patent updates can affect a stock. In this case, Clarus may be on the move, thanks to patent news. Here are some of the details that emerged early on but have yet to be formally reported in a company press release. For complete information from the US Patent and Trademark Office, you can follow this link:
- The company was granted a US patent for “Oral testosterone ester formulations and methods of treating testosterone deficiency comprising same”.
- This is US Patent Number 11,179,403
- The abstract of the patent states that this is: A pharmaceutical formulation of testosterone undecanoate is provided. Methods of treating a testosterone deficiency or its symptoms with the inventive formulations are also…