In the current environment, investment in the biotech stocks could be a risky recommendation for the investors. Despite its erratic behavior, the industry remained an eye-catching one for the investors due to its spectacular gains. Let’s take a look at four cheap stocks in the biotech industry under $1 that could attract the investors without biting a hole in their pockets.
Cytori Therapeutics Inc. (CYTX) stock is trading on the Nasdaq Capital Market at $0.27. The company has been developing regenerative and oncologic therapies from its proprietary cell therapy and nanoparticle platforms for various medical conditions. Analysts suggested a “buy” as the drugs under the process could drive the stock to $22.50 in the next 52 weeks.
Cytori’s lead drug candidate is a generic version of pegylated liposomal encapsulated doxorubicin, which is in Phase 3 clinical trial and used for various cancer types. The company’s second nanomedicine drug candidate is a novel and new chemical entity, which has completed Phase 1 clinical trial and is a workhorse chemotherapeutic drug used for various cancers.
Recently, during last month end, Cytori Therapeutics announced the publication of results from a pilot investigator-initiated clinical trial of Cytori Cell Therapy for the treatment of refractory perianal fistula in patients with Crohn’s Disease, which is an inflammatory bowel disease. Data from these studies are expected during this year.
Shares of BioLineRx Ltd. (BLRX) is trading on the Nasdaq Capital Market at $0.40. BioLineRx is a clinical stage biopharmaceutical development company focused on tumors and the immune system. Analysts recommended a “buy” rating while expecting the stock to reach $3 per share in the next 52 weeks.
BioLineRx’s development pipeline consists of clinical-stage therapeutic candidates, which include a peptide for the treatment of multiple cancer and hematological indications, an immuno-oncology agent in development for solid tumors, and a pen-like applicator for the non-surgical removal of benign skin lesions. The FDA has granted Orphan Drug Designation to the company’s lead oncology candidate, BL-8040, for the treatment of pancreatic cancer.
Recently, during last week, BioLineRx announced the closure of its previously announced underwritten public offering of 28 million American Depositary Shares, each representing one of its ordinary shares, and warrants to purchase 28 million ADSs, at a public offering price of $0.55 per ADS. The company anticipates using the net proceeds for general corporate purposes, including working capital and funding clinical trials.
Flex Pharma Inc. (FLKS) stock is trading on the Nasdaq Global Market at $0.31. The biotechnology company develops and commercializes products for the treatment of muscle cramps, spasms, and spasticity associated with neurological conditions and exercise in the US. Analysts proposed a “buy” as the stock could reach $20 per share in the next 52 weeks.
The company’s lead drug candidate is in exploratory phase 2 clinical trial in Australia for the treatment of patients with multiple sclerosis, and two phase 2 clinical trials in the US for the treatment of patients with motor neuron disease in amyotrophic lateral sclerosis (ALS). ALS is a group of rare neurological diseases that mainly involve the nerve cells responsible for controlling voluntary muscle movement.
Houston-based clinical-stage oncology company Salarius Pharmaceuticals will merge with Flex Pharma and the deal is expected to close in the first half of 2019. Flex Pharma stockholders will own about 19.9% of the combined company, which will focus on developing Salarius’ drugs. Flex stockholders also will have the right to get warrants to buy additional shares, which could lift their combined ownership to 22.3%.
Shares of Auris Medical Holding AG (EARS) is trading on the Nasdaq Capital Market at $0.37. The clinical-stage biopharmaceutical company focuses on the development of novel products for the treatment of inner ear disorders. Analysts recommended a “buy” rating while expecting the stock to reach $4 in the next 52 weeks.
Auris Medical’s two product candidates are in phase 3 clinical development for the treatment of acute inner ear tinnitus, and acute inner ear hearing loss. The company is developing a therapy for the treatment of vestibular disorders, and other pre-clinical stage products for treating certain types of tinnitus.
Recently last week, the company received a notice from The Nasdaq Stock Market indicating the non-compliance of the listing rule with regard to the bid price per share for its common shares remaining below $1. Also, Nasdaq determined that the company was not eligible for a second 180-day period to regain compliance since it did not comply with the $5 million stockholders’ equity initial listing requirement.
DISCLAIMER: The article does not necessarily imply the views of AlphaStreet, and contains opinions of the author alone.
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