Many of the most popular stocks today fall into two distinct categories. Big pharma news has several microcap biotech stocks in the green. Last week, Sunshine Biopharma (NASDAQ:SBFM) saw shares skyrocket following news of positive cancer treatment results. While the company’s growth was short-lived, this week brought more exciting news from biotech producers. According to Wall Street Journalist“Emerging technologies and innovations in healthcare research offer new opportunities for exponential growth.”
This week brings the culmination of positive announcements from several pharmaceutical and biotech producers. The sectors struggled earlier this year as the momentum caused by the race for the Covid-19 vaccine faded. However, the widespread momentum in both sectors has pushed many small businesses into the green today. Some names have even climbed above penny stock status, although it’s unclear if they will stay there. Additionally, some biotech stocks continue to climb, demonstrating this type of growth that is impossible to ignore.
Let’s take a closer look at the companies reporting major breakthroughs and what they may mean for investors.
Overview of Biotech Stocks
- Lyte Biotechnology (NASDAQ:LIXT) jumped 196% today. The last time the drug company made headlines was for stocks rising without a clear catalyst. Today he has one. Lixte reported positive data for LB-100, its “lead clinical cancer compound.” This news caused LIXT’s shares to double in premarket trading today. And it hasn’t stopped since. It should exceed $200 per share before prices stabilize.
- PolarityTE (NASDAQ:AND P) is the next big winner of the day. It rose 40% in pre-market trading and has been climbing ever since. As of this writing, it is up 107% for the day. The company, which specializes in regenerative tissue products, has received its fourth patent. CEO Richard Hague says this kind of progress will increase shareholder value. The high trading volume that PTE stock saw today indicates that investors agree.
More success in cancer treatment
- Qualigen (NADSAQ:QLGN) is also up today after reporting progress in its cancer treatment. The clinical-stage biotech producer recently presented three posters at the American Association of Cancer Research conference. In the presentation, Qualigen reported on the progress of its QN-302 therapeutic program. According to President and CEO Michael Poirier, the company’s findings “exemplify live anti-proliferative activity against pancreatic cancer and metastatic prostate cancer. As of this writing, the stock is up 48% for the day, making it a clear winner among biotech stocks.
- Actinium Pharmaceuticals (NYSEMKT:ATNM) is the next highest winner of the day. The stock has seen some volatility but is up 31% for the day at the time of writing. This morning, the targeted radiotherapy producer announced that it had entered into a license and supply agreement with the Swedish pharmaceutical producer Immedica Pharma AB. The agreement relates to the Antibody Radiation Conjugate Iomab-B. Today’s gains pushed it out of the penny stock category to nearly $7 per share.
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At the date of publication, Samuel O’Brient held (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.