Did you know this was going to be a short trading week? Because of the July 4th holiday, the markets are going to be limited due observing the holiday on Friday. On top of that, it’s also the end of the second quarter and also the end of June. Wow. That’s a lot to digest, but there could be a ton of opportunity in the following days.
Coronavirus cases continue to spike as the re-opening of the economy goes slowly. Throughout several states, including Texas, Georgia, and Florida, case numbers are continuing to grow which have put a damper on the economy’s re-opening. Businesses which had been opened are now being closed down once again as face-mask rules begin to spread. That said, even with certain states putting up stop signs to re-opening or even backtracking, places like New York City and New Jersey continue to re-open slowly.
It’s safe to assume that as these few days before the holiday commence, coronavirus related news should drive the penny stock world. Though that seems like the safe bet, you should also focus on consumer stocks as long as the economy continues to open and move forward. Who knows exactly how long it will take to get the country running like a well-oiled machine again. Knowing that, volatility will most likely continue to be a mainstay during the rest of this week and moving forward. For those reasons and more, here are 3 penny stocks to watch closely before the holiday.
Your No. 1 Short-week Penny Stock To Watch Closely: Alterity Therapeutics Limited
Alterity Therapeutics Limited (Nasdaq: ATHE) researches and develops therapeutic drugs for the treatment of Alzheimer’s disease, Huntington disease, Parkinson’s disease, and other neurological disorders in Australia. The company’s lead drug candidates include PBT434 that is in Phase I clinical trial for the treatment of Parkinson’s disease and other movement disorders. It is also developing PBT2 for patients with Alzheimer’s disease.
Alterity Therapeutics is pleased to announce that it has received guidance from the US Food and Drug Administration (FDA) in relation to the development pathway for ATH434 (previously PBT434), the company’s lead compound for the treatment of Multiple System Atrophy (MSA), a Parkinsonian disorder.
The company recently met with the FDA following the successful completion of its Phase 1 clinical trial last year and further data analysis. The pre-IND (Investigational New Drug) meeting was to obtain input on the clinical development plan for ATH434, including feedback on the Phase 2 study design.
Alterity reached agreement with the FDA on the non-clinical investigations required to support the Phase 2 study. In addition, the FDA agreed to key aspects of the Company’s Phase 2 study design including the proposed patient population, safety monitoring plan, and strategy for evaluating drug exposure during the study.
As there are currently no approved treatments for MSA and, therefore, no regulatory precedent regarding accepted efficacy endpoints, the FDA and Alterity will work together to develop an endpoint that is best suited for the MSA patients to be studied. The FDA has also encouraged Alterity to utilise data from a natural history study that Alterity has planned with clinical and neuroimaging experts at Vanderbilt University Medical Center in the US.
This natural history study, referred to as bioMUSE, or biomarkers of Progression in Multiple System Atrophy, will enroll early stage MSA patients and track change in clinical parameters and biomarkers for up to one year. Natural history studies are important for characterizing disease progression over time in selected patient populations. Well-conducted, these studies can provide vital information to optimize clinical trial design and inform the selection of biomarkers to evaluate target engagement of drug candidates.
In parallel with the US strategy, Alterity is also pursuing a regulatory pathway in Europe and Australia. Given the uncertainty of study conduct and recruitment in the COVID-19 era, and with the need to target sites that are minimally impacted, it is prudent for the Company to be flexible in identifying and recruiting sites around the world and maintaining optionality. Planning is already underway to meet with European authorities.
Dr David Stamler, Chief Medical Officer, said: “The FDA clearly recognizes the seriousness of MSA and the need for new treatments to address this devastating Orphan disease. Our pre-IND meeting was very collegial, and I look forward to again collaborating with the Division of Neurology to determine the best development path for ATH434 in the US. With the information obtained from this meeting, we have a clear path forward for conducting our Phase 2 study in MSA.”
Your No. 2 Short-week Penny Stock To Watch Closely: Blink Charging Co.
Blink Charging Co. (Nasdaq: BLNK), through its subsidiaries, owns, operates, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types. It also provides Blink Network, a cloud-based system that operates, maintains, and tracks various Blink charging stations and associated charging data, as well as provides property owners, managers, and parking companies with cloud-based services that enable the remote monitoring and management of EV charging stations and payment processing; and provides EV drivers with station information, including station location, availability, and applicable fees. In addition, the company provides EV charging hardware, site recommendations, and maintenance services.
California has made significant progress in reducing emissions with a zero-emission vehicle mandate for passenger cars, which requires the largest-volume automakers to sell battery-electric or hydrogen fuel-cell vehicles. Now the Golden State aims to tackle commercial trucks.
Adopted last week, the Advanced Clean Truck regulation requires manufacturers of commercial vehicles to start selling electric trucks in 2024, and to sell only electric trucks in California by 2045. The California Air Resources Board (CARB) claims this is the first rule of its kind in the world, and that it will lower related premature deaths by 1,000.
Trucks are the largest single source of vehicular air pollution, CARB said in a press release Thursday. They account for 70% of pollution and 80% of diesel soot, despite numbering only 2 million of the roughly 30 million vehicles registered in California.
Diesel exhaust emissions also disproportionately affect minority and low-income neighborhoods, as these neighborhoods are more likely to be situated near ports, rail yards, distribution centers, and freight corridors that experience heavy truck traffic, the agency said.
The regulation will result in 100,000 zero-emission trucks in California by 2030, and 300,000 by 2035. Related efforts aim to close diesel emissions loopholes related to commercial vehicles.
The Advanced Clean Truck regulation was applauded by environmental groups, with Katherine Garcia, Sierra Club California policy advocate, calling it a “win for the environment, air quality, and the economy.”
Your No. 3 Short-week Penny Stock To Watch Closely: Farmmi, Inc.
Farmmi, Inc. (Nasdaq: FAMI) processes and sells agricultural products in China, the United States, Japan, Canada, Europe, and the Middle East. The company offers shiitake and Mu Er mushrooms; and other edible fungi products, including bamboo fungi, agrocybe aegerila, pleurotus eryngii, grifola frondosa, coprinus comatus, and hericium erinaceus. It also operates Farmmi Jicai, an online store that sells edible fungi products under Forasen and Farmmi Liangpin brands; Farmmi Liangpin Market, an online store that sells edible fungi products under Farmmi Liangpin and Puyangtang brands, as well as other agricultural products purchased from third party manufacturers.
Farmmi, Inc. announced its subsidiary Zhejiang Forest Food Co., Ltd., has received multiple additional repeat orders for distribution of its dried Shiitake mushrooms, dried whole mushrooms and mushroom slices, and dried black fungus in the U.S. and Israel, as the Company continues to benefit from growth in plant-based food segment.
Ms. Yefang Zhang, Farmmi’s Chairwoman and CEO, commented, “We are excited to announce our latest repeat orders, which include the sixth order this year from one customer – an Israel-based import and marketing company – and the twelfth from another, a customer exporting from Ningbo, China to the U.S. We continue to benefit from growth in the broader plant-based food segment, as more consumers seek healthier food products without sacrificing taste. The overall interest and segment growth is helping drive demand for our delicious, fresh and convenient Shiitake mushrooms and other edible fungi. We expect this to be a multi-year, global trend as consumers support environmentally friendly companies and products, like Farmmi.”
Eating mushrooms, which are fat-free, low-sodium and cholesterol-free, promotes a healthy, nutritional diet. Mushrooms are rich with fiber, vitamins and minerals, with the flexibility to be consumed dried as a snack or used in soups, stews, appetizers and countless other delicious, healthy dishes.