The chaos has returned to the market this morning, and this time, the dramatic oil market collapse has brought about the decline. However, it does not mean that investors shouldn’t look for opportunities from among healthcare penny stocks.
The coronavirus pandemic wreaked havoc on the markets over the past few weeks, and the latest troubles in the oil market have come as another blow. On Monday, the price of crude oil fell into the negative territory, spooking investors from all over the world. While it is an unprecedented situation, healthcare penny stocks still present a promising opportunity for investors.
Over the past few weeks, many healthcare stocks have seen a significant surge due to the spread of the coronavirus pandemic. Many healthcare penny stocks have also managed to register gains, and it seems likely that the trend is going to continue for the short-term, at least.
This morning, the Dow Jones Industrial Average dropped by 2.50% as the sell-off picked up again. However, some healthcare penny stocks have recorded gains amidst the carnage, and here is a quick look at five of those stocks.
5 Healthcare Penny Stocks: Vaxart Inc (NASDAQ:VXRT)
One of the healthcare penny stocks to have surged significantly this morning is biotech company Vaxart. This morning, the company revealed the results from the preclinical study of its potential coronavirus oral vaccine candidates.
The preclinical data was positive, and many of the potential vaccines managed to induce immune responses in the patients who were part of the trial. It is a significant development for the company considering the importance of discovering a vaccine for the deadly virus.
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After the announcement, the stock surged by 38% to $3.22 this morning, but it remains to be seen if VXRT can extend its gain. It could be prudent of investors to keep an eye on this stock.
5 Healthcare Penny Stocks: aTyr Pharma Inc (NASDAQ:LIFE)
aTyr Pharma stock has emerged as another promising healthcare penny stock this morning in light of the latest announcement from the company. The biotherapeutics company announced that the United States Food and Drug Administration accepted its Investigational New Drug (IND) application for the evaluation of its lead candidate, ATYR 1923.
A Phase 2 study is going to be conducted, evaluating its efficacy in potentially treating respiratory issues in patients infected with the coronavirus. This is a major development for aTyr Pharma, and the stock jumped by 11% to $3.43 as investors flocked to LIFE.
5 Healthcare Penny Stocks: PAVmed Inc (NASDAQ:PAVM)
Medical device company PAVmed has made significant progress in recent months, and this morning the stock rallied impressively following the emergence of significant news about the company. It emerged today that the United States Food and Drug Administration has given the coveted marketing clearance to the company’s product, CarpX.
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The product in question is a minimally invasive carpal tunnel device, and the news has created a lot of optimism around PAVmed stock. PAVM stock rallied by 13% after the news emerged. The FDA stated that the device is largely equivalent to many of the “legally marketed predicates.”
5 Healthcare Penny Stocks: Zomedica Pharmaceuticals Corp (NYSEAMERICAN:ZOM)
Zomedica Pharmaceuticals stock has emerged as another potential healthcare penny stock play this morning after its stock surged following a major announcement from the company. The veterinary diagnostic firm announced that the verification of its product, TRUFORMA, was completed.
TRUFORMA is a point of care diagnostic biosensor platform created by the company, and its verification is a major milestone for the company. Zomedica is in the process of developing the product in collaboration with Qorvo Inc (NASDAQ:QRVO).
It goes without saying that this development is a significant one for the company, and ZOM stock surged by 15% after the news emerged. This is one healthcare penny stock gainers that investors may want to keep an eye on.
5 Healthcare Penny Stocks: Aikido Pharma Inc (NASDAQ:AIKI)
Last but not least, Aikido Pharma stock deserves attention this morning after the company signed a key licensing agreement with the University of Maryland in Baltimore.
The agreement in question covers a wide range of antiviral compounds that the university discovered. The compounds potentially fight against a range of viruses, which may include the coronavirus. This information may have been the reason behind the 8% gain that AIKI stock recorded today.
Featured image: Pixabay
