What Are The Best Penny Stocks To Watch This Week? 3 For Your List – Penny Stocks

Are These On Your List Of Penny Stocks To Watch In May 2020?

Regardless of which names are on your list of penny stocks, this week will be an interesting one. While the coronavirus captivated headlines most of this year, China trade could be a focus for the broader markets.

Last week, President Trump threatened to reignite a China trade war in the middle of a global recession and pandemic. This ended up sending the major indexes sharply lower on Friday. Over the weekend this has continued to gain buzz online. Over the weekend, we also saw comments from the Oracle of Omaha, Warren Buffett. He told shareholders at the annual Berkshire meeting that the firm sold its holdings in airline stocks amid the coronavirus pandemic.

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I think there are certain industries, and unfortunately, I think that the airline industry, among others, that are really hurt by a forced shutdown by events that are far beyond our control, he said. Theres no doubt that investors have taken into account the lasting effects of the novel coronavirus pandemic. Will airline stocks recover? Thats a question better suited for when the economy is back to some kind of normal in my opinion.

What has also gained attention over the weekend were comments made by Gilead (GILD Stock Report). The companys CEO, Daniel ODay told CBS Face of the Nation that the company intends to get remdesivir to patients in the early part of this coming week. Gileads CEO said it wants to work with the government to determine which cities are most vulnerable and where the patients are that need this medicine.

In addition to this Gilead also donated its entire supply of the drug to the U.S. Government. Whether thats good or bad, it has shown the company aims to find a solution for this virus. ODay said, Weve donated the entire supply that we have within our supply chain and we did that because we acknowledge and recognize the human suffering, the human need here, and want to make sure nothing gets in the way of this getting to patients.

Last week the company released preliminary results from a clinical trial. It showed 50% of the COVID-19 patients that were treated saw improvement with a 5-day dose. The company expects to produce more than 140,000 rounds of its 10-day treatment regimen by the end of the month. It also expects to make around 1 million rounds by the end of 2020. Needless to say, there is still much more attention on companies working to address side-effects of the virus and will likely be a focus during the week ahead.

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Last week Algernon Pharmaceuticals (AGNPF Stock Report) (AGN) revealed big news last week on its latest treatment progress. Algernon announced late Wednesday afternoon that it has received a No Objection Letter from Health Canada to proceed with a NP-120 (Ifenprodil) COVID-19 Phase 2b/3 multinational clinical trial. The same study protocol is being prepared for submission to the U.S. FDA and Australian regulatory authorities.

The trial will begin as a Phase 2b study and after an interim analysis is performed on the first 100 patients, the data will determine the number of expected patients needed to reach statistical significance in a Phase 3 trial. With positive preliminary data, the clinical trial will move directly from a Phase 2b into a Phase 3.

This news came on the heels of Algernons receipt of regulatory and ethics approval for Phase 2 Ifenprodil COVID-19 human study in South Korea. The company has even received positive feedback from the U.S. FDA for a new intravenous formulation of the treatment. The FDA has advised that for the toxicology program of the new intravenous Ifenprodil formulation, a single animal 30-day study would be acceptable.

With all of this progress, Algernon stock has managed to reach new all-time highs of $0.4867 and marked a run of 188% from April 1 to April 30th. After the late-week pullback from highs, is Algernon set for another rally in May?

One of the late-breaking penny stocks to watch from last week was Fluidigm Corporation (FLDM Stock Report). For most of the Friday session, shares of FLDM stock were quiet. But during the later afternoon session, the penny stock shot up from around $2.15 to highs of $4.39. Why did Fluidigm stock rally so strongly last week?

To get a better understanding, you should know what the company does. Fluidigm focuses on cancer, immunology, and immunotherapy. Using proprietary CyTOF and microfluidics technologies, the company has a multi-omic solution for testing and diagnostics. Fluidigm began focusing its efforts on COVID-19 to research applications for SARS-CoV-2 virus detection. To this end, FLDM stock managed to take off after the company gained attention in an article on The Guardians website.

Titled US germ warfare research leads to new early Covid-19 test, the article discusses a test that has the potential to identify carriers before they become infectious. Within the article released on May 1, Chris Linthwaite, the chief executive of Fluidigm was quoted. He said that this test could have exceptional demand. Hes referring to a project involving Fluidigm to develop a blood-based test. The goal is to be able to detect a viruss presence as early as 24 hours after infection.

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According to the Guardian, the test has emerged from a project set up by the US militarys Defense Advanced Research Projects Agency (Darpa). Its aimed at rapid diagnosis of germ or chemical warfare poisoning. It was hurriedly repurposed when the pandemic broke out according to The Guardian. The new test is expected to be put forward for emergency use approval by the US FDA within a week.

Shares of Millendo Therapeutics Inc. (MLND Stock Report) saw a strong close to the week last week. The penny stock tumbled in early April after reporting unsuccessful results from a Phase 2b clinical trial. The trial was for evaluating lead drug livoletide in patients with Prader-Willi syndrome. Its an inherited disorder characterized by obesity and type 2 diabetes due to insatiable hunger.

After dropping to lows of $1.26, MLND stock has been working to regain its previous trading levels. There is still a long way to go considering that earlier this year, MLND traded above $9 a share. Needless to say, hopes remain high for some of the perma-longs in this stock. Friday saw MLND stock kick May off with a bang. More than 6.4 million shares traded while the penny stock reached a high of $2.13. After closing at $1.85, the buzz surrounds what comes next.

Millendo hasnt released any big updates to speak of. Furthermore, the last corporate filing simply included the companys filed proxy statement on April 24. However, something of note came in a statement made during the April 6 result PR that could have sparked interest in the company.

With the rapidly evolving COVID-19 global pandemic and the extraordinary burden it has put on hospitals and healthcare providers, we are monitoring the potential impact of the situation on these programs and will provide an update when we have more clarity on expected timelines.

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Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

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What Are The Best Penny Stocks To Watch This Week? 3 For Your List - Penny Stocks