Robinhood IPO Has Retail Traders Excited About Penny Stocks
While penny stocks have long been a trending topic among retail traders, today’s a little different. The app that was made popular by this exact group of investors, Robinhood, is making its public debut. With that, social media message boards like Reddit, Twitter, and others are abuzz with speculation. While the Robinhood IPO marks a new page for retail brokers, it suggests that the next generation of market participants finds value in untraditional places.
When it first graced the app store, Robinhood became the original “no fee” brokerage. This soon saw retail traders flocking to the platform to find more ways to make money in the stock market. Fast-forward a few years, and, yes, the platform has gone through its paces.
But what has also happened is the landscape for retail trading brokerage services has dramatically evolved. Lower and no-fee platforms have become a norm in the stock market today. With the latest Robinhood IPO, it’s almost a sign that institutional companies aren’t the only choice anymore and that the rise of the retail investor is alive and well.
Biotech Stocks In Focus This Week
This week has been full of momentum both in broader markets and specific industries. Big news from the likes of Merck (NYSE:MKR) and Bristol-Myers Squibb (NYSE:BMY) helped shed light on the state of cancer stocks. Both companies reported significant events ranging from FDA approvals to revenue growth thanks to their cancer treatments.
By the look of things, that bullish sentiment hasn’t subsided either. On Thursday, one of the biotech industry benchmark ETFs, Nasdaq’s Biotech ETF (NASDAQ:IBB), made a fresh 5-month high. Keeping this in mind, not only are cancer stocks a focus this week but the broader industry is too. In this article, we’ll take a look at several former biotech penny stocks to watch heading into the Robinhood IPO day.
Biotech Stocks To Watch #1: GT Biopharma Inc. (NASDAQ: GTBP)
GT Biopharma has several things going on right now that put some important timing in focus. The company has developed a novel treatment pipeline centered around Natural Killer (or “NK”) cell therapy. Traditional immunotherapies like chimeric antigen receptor T-cell therapy (or “CAR-T”) need a match from a specific donor to a specific patient. So, this makes it hard to mass-produce since everyone is different.
On the other hand, NK cells are genetically engineered healthy cells manufactured from normal, healthy donors. Since this treatment involves allogeneic cell lines, NK cells can be developed to trigger certain immune responses in various patients. These cells can “identify” cancer cells on their own and can also be paired with CARs in certain situations.
Why is this important to GT Biopharma? The company has taken NK treatment a step further by developing a tri-specific natural killer engager treatment platform (or “TriKETM“). This is the framework for its robust pipeline of treatment candidates to drive tumor cell killing power to exponential levels.
What To Watch With GT Biopharma
The reason why the timing could be important to some who’re looking at GT Biopharma right now has to do with its lead treatment candidate, GTB-3550. This is the company’s first TriKE™ candidate under development for treating acute myeloid leukemia, myelodysplastic syndrome. Initial results in Phase 1 dose-escalation have demonstrated meaningful responses from patients. In fact, CEO Anthony Cataldo discussed some of the specifics with PennyStocks.com directly.
“I’m impressed by the progress being made in the Phase 1/2 GTB-3550 clinical trials. To date, we still have yet to see one patient experience an adverse event…