Upcoming Catalysts and Crucial Levels (ENSC, BRSH, ONMD, KPRX, ACHL)
Navigating the volatile world of penny stocks requires a keen understanding of the upcoming catalysts and crucial levels that can significantly impact their trajectory. In this watchlist, we unravel the intricacies of these five high-risk, high-reward penny stocks, shedding light on the imminent catalysts and key levels that demand attention from savvy investors.
Ensysce Biosciences Inc. (NASDAQ: ENSC) - Last month, Ensysce reported the completion of enrollment for the PF614-201 study, an exploratory Phase 2 trial assessing the analgesic response in healthy male subjects. The study aims to determine the onset time of PF614's analgesic effects before moving to Phase 3 efficacy evaluations. Dr. Lynn Kirkpatrick, Ensysce's CEO, emphasized the significance of this milestone for advancing PF614's development plans. Initial data from the study is expected in December 2023, with an End of Phase 2 meeting with the FDA scheduled for January 2024. The company closed the last trading session at $1.09, marking a 10% increase. Watch for a breakout above $1.15 for potential upward movement, with support levels identified at approximately $0.97 and $0.93.
Bruush Oral Care Inc. (NASDAQ: BRSH) - Founded in 2018, Bruush Oral Care is revolutionizing oral health by breaking down barriers to premium oral care products. As an e-commerce business, they offer a sonic-powered electric toothbrush kit and brush head refills. With a focus on affordability, sleek design, and a convenient refill subscription, Bruush aims to make the switch to electric brushes appealing. Last week, the company's stock closed 5% lower at $0.15, nearing 52-week lows. Monitoring for updates, the company received a notice of non-compliance from Nasdaq due to minimum bid price requirements. With a first resistance level at $0.17, attention is on forming a bottom base for potential upward movement.
OneMedNet Corp. (NASDAQ: ONMD) - Last month, the company successfully concluded its merger with Data Knights Acquisition Corp., operating henceforth as OneMedNet Corporation ("OneMedNet"). As of November 8, 2023, OneMedNet's common stock and warrants will trade on the Nasdaq under "ONMD" and "ONMDW," respectively. Notably, the company has forged a strategic partnership with a leading research medical center to expedite the development of innovative diagnostic and treatment solutions using OneMedNet's iRWDTM. Closing out last week's trading session down 12% at $1.19, hitting 52-week lows, attention is on a potential bottom forming for an upward bounce, with a keen eye on resistance around $1.40.
Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) - Last month, Kiora provided an update on advancing clinical development for KIO-301 in various inherited retinal diseases. Results from the ABACUS-1 study on November 4, 2023, indicated the safety and tolerability of KIO-301 in late-stage retinitis pigmentosa patients. Noteworthy improvements in visual field, acuity, and functional vision were observed, with plans to initiate ABACUS-2 in H1 2024 for further efficacy and safety confirmation. CEO Brian M. Strem stated intentions to meet with the FDA in Q4 2023 for study alignment. Closing the week at $0.53, monitoring support at $0.50, resistance at $0.55, and anticipating future company updates.
Achilles Therapeutics plc (NASDAQ: ACHL) - Last month, Achilles Therapeutics highlighted the significance of neoantigens in solid-tumor oncology and emphasized their advantageous position in identifying immunogenic clonal neoantigens. CEO Dr. Iraj Ali expressed confidence in their clonal neoantigen-reactive T cell (cNeT) therapy. Phase I/IIa clinical trials for advanced NSCLC (CHIRON) and metastatic malignant melanoma (THETIS) are progressing, with plans to dose patients according to guidance. Anticipating a clinical and translational data update in Q1 2024, the company closed the previous week up 5% at $0.94. Attention is on future updates, with potential upward movement if resistance at $0.95-$0.98 is breached, and support identified around $0.88 and $0.83.
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