Daily Biotech Penny Stock Breakdown
The penny stock basket contained 366 stocks today. Bid pressure dropped on close likely waiting out the PPI data tomorrow morning.
Must worse average performance. Two days in and not seeing signs of rotation. Just beta-multiple market movements.
Cabaletta ($CABA) dropped on offering news released immediately after the data came out. The stock had run over 100% into the conference. These sort of definitive date data releases tend to be front run.
Adial Pharmaceuticals ($ADIL) announced trial planning which is completely meaningless. The company is setting up for a warrant conversion and reverse split. From the Def 14A filed yesterday,
upon the exercise of our Series B-1 common stock purchase warrants, Series C-1 common stock purchase warrants and placement agent warrants issued in connection with our private placement offering that closed on May 5, 2025, that may be equal to or exceed 20% of our Common Stock outstanding before such offering.and
to effect a reverse stock split with respect to the Company’s issued and outstanding shares of Common Stock, including stock held by the Company as treasury shares, at a ratio of 1-for-2 to 1-for-25Zhongchao ($ZCMD) is out of China. I don’t have time to figure out which scammy investment bank is doing what play with this one.
60 Degrees Pharmaceuticals ($SXTP) was just out of the channel. This has been bouncing inside the channel for awhile.
And similarly, Nuvation Bio ($NUVB) was out of the channel. Even FDA Approval couldn’t keep the stock aloft.
Company is hosting a conference call tomorrow, June 12 at 7:30 a.m. EDT. Likely to be elastic.
Speaking on elastic stocks on the winners side of life Unicycive Therapeutics ($UNCY) bounced back today +18%. I mentioned yesterday it would likely be elastic.
Matinas BioPharma moved up above EM1 today. I don’t see any news.
Helius Med Tech ($HSDT) also moved over EM1 after two recent institutional ownership filings and a complete pump PR today.
Rather obvious chart here on Synatogenix ($SNPX). No news on the day I can see.
And finally, the big winner was Jupiter Neurosciences ($JUNS) which looks to be trying real hard to regain compliance and get above $1.00. Another complete BS press release today.
The long-dated chart better shows the setup for this one.
Jupiter tripped consolidation way back in May. Not sure if day-trade type players would have been patient enough to hold a WHOLE MONTH for this one.
As always, if you think there are spelling errors update your dictionary to the latest version. Happy speculation!
— AJ
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