WASHINGTON (dpa-AFX) - Penny stocks, though highly volatile, could be an attractive addition to an investor's portfolio.
Here are some of the biotech penny stocks that delivered triple-digit gains in 2022.
ADMA Biologics, Inc. (ADMA)
It's been a banner year for ADMA, with its share price having gained nearly 160% this year.
The company markets specialty plasma-derived products for the prevention and treatment of infectious diseases. The company markets Human Immune Globulin products including BIVIGAM, ASCENIV and NABI-HB.
Nabi-HB was approved by the FDA for enhanced immunity against Hepatitis-B among newly exposed individuals.
ASCENIV is a 10% immune globulin liquid for intravenous injection, indicated for the treatment of primary humoral immunodeficiency (PI) in adults and adolescents (12 to 17 years of age).
BIVIGAM is indicated for the treatment of primary humoral immunodeficiency (PI).
The company also operates 7 FDA approved plasma collection centers and plans to expand them to 10 by the end 2023.
ADMA's revenue, which was $15.761 million in 2017, has grown at a compound annual growth rate (CAGR) of 50% over the last 5 years to $81 million in 2021.
In the third quarter ended Sep.30, 2022, revenue was $41.1 million, up from $20.7 million in the third quarter of 2021.
In Q3 2022, quarterly losses narrowed by 19% to $14.9 million from $17.7 million in Q3 2021.
ADMA increased full year 2022 revenue guidance thrice to the revenue of $145 million. Analysts polled by Thomson Reuters expect revenue of $145.3 million in FY2022.
On September 30, 2022, ADMA had $34.9 million in cash and cash equivalents.
ADMA has traded in a range of $1.17 to $3.8 in the last 52 weeks. The stock closed Tuesday's trading at $3.63, down 0.55%.
Trevi Therapeutics Inc. (TRVI)
Trevi Therapeutics has had a great run in 2022. The stock is up nearly 140% year-to-date.
The company's lead drug candidate is Haduvio, being developed for the treatment of chronic cough in adults with idiopathic pulmonary fibrosis (IPF) and prurigo nodularis.
In a phase II trial of Haduvio for the treatment of chronic cough in IPF, dubbed CANAL, the results of which were reported in September of this year, the primary efficacy endpoint and key secondary endpoints were met.
The company announced positive results from its Phase 2b/3 trial of Haduvio in treating prurigo nodularis, dubbed PRISM, in June of this year. An open-label extension portion of the PRISM trial is ongoing and is expected to be completed in the first quarter of 2023.
The company ended Q3 2022 with $126 million in cash and cash equivalents and marketable securities.
TRVI has traded in a range of $0.46 to $4.68 in the last 52 weeks. The stock closed Tuesday's trading at $1.85, up 3.35%.
Ardelyx Inc. (ARDX)
Ardelyx, which transitioned to a revenue-generating company in the second quarter of this year, has gained nearly 120% year-to-date.
Ardelyx develops and commercializes innovative medicines to treat gastrointestinal and cardiorenal conditions.
The company started marketing IBSRELA in April 2022, its first and only commercially available product. IBSRELA is approved for the treatment of Irritable Bowel Syndrome with Constipation (IBS-C) in adults.
In Q3, 2022, net product sales for IBSRELA were $4.98 million, up 97% from the previous quarter (Q2, 2022).
The company awaits the final FDA decision on Xphozah, proposed for the control of serum phosphorus in adult patients with chronic kidney disease on dialysis
In Nov. 2022, the FDA Advisory Committee voted 9:4 in favor of XPHOZAH as a monotherapy and 10:2 in favor of XPHOZAH in combination with phosphate binders for the control of serum phosphorus in adult patients with chronic kidney disease (CKD) on dialysis.
Ardelyx ended the third quarter of 2022, with total cash, cash equivalents and investments of $90.6 million.
ARDX has traded in a range of $0.49 to $2.55 in the last 52 weeks. The stock closed Tuesday's trading at $2.39, down 0.83%.
Geron Corporation (GERN)
Geron, a late-stage clinical biopharmaceutical company developing therapeutics for myeloid hematologic malignancies, anticipates a busy year ahead. The stock has returned over 67% year-to-date.
The company's lead product candidate is Imetelstat, being developed for the treatment of lower risk myelodysplastic syndromes.
A phase III trial of Imetelstat in patients with lower risk myelodysplastic syndromes, dubbed IMerge, is underway, with results expected in early January 2023.
A phase I study of Imetelstat in combination with ruxolitinib in frontline myelofibrosis, dubbed IMproveMF, is also ongoing, with preliminary data anticipated by the end of 2023.
Geron ended Q3 2022, with $195 million in cash and marketable securities.
GERN has traded in a range of $0.99 to $3.06 in the last 52 weeks. The stock closed Monday's trading at $2.09, down 1.88%.
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