Small cap penny stocks can make huge moves but in this risk-off market, they are VERY risky. The best penny stocks will go down in a risk-off market unless the stock has a powerful enough story/catalyst that causes investors to have more greed than fear. I’m personally in only one hot stock at the moment because of the downtrend on the major indices right now. However, I wanted to alert you to this possible big mover in the coming days and weeks.
A hot penny stock for the weeks ahead is Sesen Bio (SESN). Here’s why SESN is my #1 hot penny stocks pick for the week ahead.
Sesen Bio (SESN), a late-stage clinical company developing targeted fusion protein therapeutics for the treatment of people with cancer.
SESN has a phase 3 data release coming for Vicinium to treat non-muscle invasive bladder cancer (NMIBC). The phase 3 12-month data is not due until mid-2019 BUT the 6-month data is due in December 2018.
“2018 has been a year of focused execution for Sesen Bio, led by the advancement of the Phase 3 program for Vicinium for patients with NMIBC,” said Dr. Thomas Cannell, president and chief executive officer of Sesen Bio. “NMIBC is a devastating disease and there remains just one recommendation for patients who do not respond or become refractory to today’s standard-of-care treatment: complete bladder removal. Our goal is to help save this essential organ and provide a meaningful treatment option for patients with BCG-unresponsive NMIBC. Our Phase 3 registration clinical trial is well-designed and preliminary data reported earlier this year suggest that Vicinium is active and has a favorable safety profile, consistent with our Phase 2 experience. We look forward to assessing six-month data from the trial next month and twelve-month data in mid-2019. If the VISTA Trial is successful, we believe Viciniumcould change the treatment outlook for patients with NMIBC, bringing us closer to achieving our mission of saving and renewing the lives of patients with cancer.”
In September 2018, at the Global Congress on Bladder Cancer 2018, Sesen Bio presented a biomarker update from its Phase 3 VISTA Trial data showing that all screened patient samples expressed EpCAM, the molecular target of Vicinium.
In October 2018, the company entered into an agreement with FUJIFILM Diosynth Biotechnologies U.S.A., Inc. to provide supply services in support of the manufacturing of Vicinium for the treatment of high-grade NMIBC. The Agreement facilitates a transfer of manufacturing technology from Sesen Bio to Fujifilm.
Sesen Bio anticipates reporting six-month data from the ongoing phase 3 VISTA Trial in December 2018.
SESN Stock Chart
Buy-side volume has overtaken sell-side volume. The 14-day moving average has buy volume at 1.14 million and sell volume at 0.18 million. Very nice! The CMF is rising which suggests the stock is being accumulated at current price levels. Clearly, traders are moving into SESN stock ahead of the December 2018 VISTA phase 3 data release.
Disclosure: I do not hold any position in SESN stock.