2 ‘Strong Buy’ Penny Stocks Could Rally to $40 (or More), Says Piper

 Bull or bear market, no investment is a sure thing. Especially in the current financial environment, which remains riddled with uncertainty, finding compelling plays can be challenging for even the most seasoned market watchers. However, this is not to say that investment opportunities with stand-out growth prospects can’t be found.

For the more risk-tolerant investor, penny stocks, or tickers trading for less than $5 per share, can be an enticing option. The appeal is clear; the bargain price tag means you can get more bang for your buck and even what feels like inconsequential share price appreciation can result in huge percentage gains.

What’s the flip side? Minor share price depreciation can fuel major percentage losses. By nature of these massive movements, penny stocks are notoriously volatile.

Bearing this in mind, our focus shifted to two penny stocks backed by investment firm Piper Sandler. Major gains could be in store, as the firm’s analysts believe these tickers trading for less than $5 could climb all the way to $40, or more.

After running the tickers through TipRanks’ database, we found that both have also been cheered by the rest of the Street, as they boast a “Strong Buy” analyst consensus. Let’s take a closer look.

Tenaya Therapeutics (TNYA)

We’ll start with Tenaya Therapeutics, a biopharmaceutical company focused on treatments for cardiac disease. Tenaya is pursuing the development of new therapeutic agents based on gene therapy, cellular regeneration, and/or precision medicine. Using these platforms, the company is fulfilling its mission to ‘discover, develop, and deliver’ drug candidates that will attack heart disease through the underlying drivers of the conditions.

Tenaya’s lead candidate is gene therapy TN-201. Earlier this year, the company got the all clear from the FDA to begin clinical testing and Tenaya plans on initiating a Phase 1b study in Q3 in which symptomatic adults with MYBPC3-associated HCM (Hypertrophic Cardiomyopathy) will be subject to a one-time intravenous infusion of TN-201. An initial data readout is expected in 2024.

The company is also working on TN-301, a small molecule inhibitor of HDAC6 being developed to treat HFpEF (heart failure with preserved ejection fraction). The drug is currently being assessed in a Phase 1 study and the company expects to have a data readout from both the SAD (single ascending) and MAD (multiple-ascending dose) stages of the trial in 2H23.

Also of note here is TN-401, another gene therapy intended to deliver a functional PKP2 gene in adults with ARVC (Arrhythmogenic Right Ventricular Cardiomyopathy) owing to PKP2 gene mutation. Submission of an IND application to the FDA is expected in 2H23.

All of these programs have piqued the interest of Piper Sandler’s Yasmeen Rahimi, who highlights the opportunity and catalysts ahead as key.

“We remain bullish on this name as we believe that the HCM market is growing with the recent Camzyos (BMY) launch, as well as several other key HCM catalysts coming in 2023. Accordingly, we view TNYA as undervalued with several inflection points in the stock with TN-301 (HCA6 inhibitor) for HFpEF Ph1 SAD/MAD HV data reading out in 2H23, lead asset TN-201 (MYBPC3 gene therapy) Ph1b nHCM data on track for 2024, and TN-401 (PKP2 gene therapy) for ARVC with IND submission expected in 2H23. Altogether, the company has a catalyst-rich pipeline, and thus represents an attractive buying opportunity in our view,” Rahimi opined.

You can say that again. Quantifying her stance, Rahimi rates TNYA shares an Overweight (i.e. Buy) while her $40 price target suggests the shares will post growth of a huge 1154% over the next year. (To watch Rahimi’s track record, click here)

That target might seem outlandish but it’s not as if other analysts are shy about making big predictions here, either. The average target stands at $21.50, making room for one-year gains of 574% from the current $3.19 share price. Additionally, based on Buys only – 6, in total – the stock claims a Strong Buy consensus rating. (See TNYA stock forecast)

ALX Oncology Holdings (ALXO)

For our next Piper Sandler-endorsed penny stock pick, we’ll stick with the biotech sector. ALX Oncology is a clinical-stage immuno-oncology firm dedicated to supporting patients in their battle against cancer. They achieve this by developing drugs that inhibit the CD47 checkpoint pathway and connect the innate and adaptive immune systems.

ALX’s lead candidate, evorpacept, is a next generation CD47 blocking drug being assessed as a treatment for various cancers, with the company focused on hematologic malignancies and solid tumor indications where it can potentially cater to big unmet medical needs.

Evorpacept is currently being evaluated in a total of 10 research tracks. We’ll specifically focus on the ones that have catalysts on the horizon.

In the second half of 2023, the company expects to present data from the Phase 2 study of evorpacept, in combination with trastuzumab, ramucirumab, and paclitaxel, indicated for the treatment of patients with HER2-positive gastric/GEJ cancer (ASPEN-06). Also in 2H23, ALX will announce dose optimization results from the Phase 1b clinical study of evorpacept in combination with azacytidine. This trial (ASPEN-02) is targeting patients with MDS (myelodysplastic syndromes).

A Phase 1b dose optimization clinical trial (ASPEN-05) of evorpacept combined with azacitidine and venetoclax for the treatment of patients with relapsed or refractory (r/r) or newly diagnosed acute myeloid leukemia, should also kick off in the year’s latter half. Lastly, 1H23 should also see the filing of an IND (investigational new drug) for ALTA-002, a SIRPα Toll-like receptor agonist antibody conjugate being worked on together with Tallac Therapeutics.

It’s the combined potential of the upcoming updates that has drawn Piper Sandler’s Christopher Raymond’s attention. He writes, “The catalyst flow remains on track with important clinical updates in gastric/GEJ cancer (ASPEN-06, P2 update) and MDS (ASPEN-02, P1b dose expansion data) expected in 2H23. Outside of this, development continues across the pipeline, with HNSCC studies ongoing (ASPEN-03, ASPEN-04; data in 2024) and IND filing for ALTA-002 expected in the first half of 2023. Overall, we continue to see evorpacept as a best-in-class CD47-targeting agent, and remain buyers to $48/sh.”

That $48 price target suggests the shares will deliver returns of a huge 930% over the coming year. Unsurprisingly, Raymond rates ALXO shares an Overweight (i.e. Buy). (To watch Raymond’s track record, click here)

Two other analysts have been following this biotech’s development, and both also take a bullish stance, making the consensus view here a Strong Buy. There are big gains projected here, too. The $27.33 average target provided room for 12-month growth of 486% from the current $4.66 share price. (See ALXO stock forecast)

https://finance.yahoo.com/news/2-strong-buy-penny-stocks-153642104.html

Inquest says doctor died of COVID-19 jab complication

 An inquest in the UK has concluded that the death of a UK doctor in January 2021 shortly after being immunised against COVID-19 was a “rare and unintended complication” of the vaccine he received.

32-year-old psychologist Stephen Wright died 10 days after receiving a first does of AstraZeneca’s Vaxzevria vaccine, which formed the backbone of the UK’s defence against the pandemic, before being largely superseded by mRNA vaccines from Pfizer/BioNTech and Moderna – which have also been linked to rare side effects.

Senior coroner Andrew Harris agreed that a blood clot in Wright’s brain was likely to have been a result of vaccination with Vaxzevria in what was a “very unusual and deeply tragic case.”

While clotting reactions known as cerebrovascular venous and sinus thrombosis (CVST) are known to be a very rare consequence of Vaxzevria, and are listed on the product’s label, at the time the shot was still in the earliest stages of its rollout and the risk had not been identified.

The record of inquest notes that Wright’s cause of death was a brain-stem infarction, acute intracerebral haemorrhage, and vaccine-induced thrombosis and thrombocytopenia (VITT).

He awoke with a headache on 25th January, later developed arm numbness, and attended A&E shortly afterwards, where he was diagnosed with high blood pressure and clot in the sagittal area of the brain. He was transferred to King’s College London for emergency treatment, but was unable to have surgery due to the extent of the bleed and low platelet counts.

Harris said during the inquest that is it “very important to record as fact that it is the AstraZeneca vaccine – but that is different from blaming AstraZeneca.”

That may be pertinent, as Wright’s widow Charlotte Wright is reported to be engaged in legal action against the pharma company, along with dozens of other people, according to a BBC report. She has campaigned to get the wording on her husband’s death certificate changed from “natural causes.”

In a statement, AZ said it was “saddened by Stephen Wright’s death” and extended its “deepest sympathies to his family for their loss”. It reiterated, however, that “the benefits of vaccination outweigh the risks of extremely rare potential side effects.”

Charlotte Wright has received £120,000 in compensation from the UK government’s Vaccine Damage Payment Scheme (VDPS), and has been supporting others in their fight to reform the scheme. As of 21st March, 4,178 claims had been received under the scheme, 1,165 had undergone medical assessment, and 63 claimants have received payments.

https://pharmaphorum.com/news/inquest-says-doctor-died-covid-19-jab-complication

Twist Bioscience in 3rd Collaboration with Astellas to Support Antibody Discovery for Immunotherapies

  Twist Bioscience Corporation (NASDAQ: TWST), a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, today announced a collaboration with Astellas Pharma US, Inc. (TSE: 4503, President and CEO: Naoki Okamura., “Astellas”), by which Astellas will license a suite of Twist’s VHH antibody libraries to be used by Astellas for drug discovery and development.

“We are pleased to extend our collaboration with Astellas to three agreements across two groups within the company, showcasing our ability to meet the varying needs of our customers and support their success,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “This latest collaboration with Astellas demonstrates how Twist can enable our customers to grow their pipelines both externally with our antibody discovery services and by supporting their internal discovery with our highly specific and potent antibody libraries.”

Under the terms of the agreement, Astellas will license a suite of Twist’s VHH libraries for a period of five years and will use the libraries to conduct research and development activities. Twist will receive an upfront payment and will be eligible to receive annual maintenance fees and fees per product through payments associated with specific clinical and commercial milestones. Twist will also be eligible to receive royalty payments on product sales.

https://www.biospace.com/article/releases/twist-bioscience-enters-into-third-collaboration-with-astellas-to-support-antibody-discovery-for-immunotherapies/

TPG, AmerisourceBergen to Acquire Leading Specialty Practice Network OneOncology

 

• Partnership provides nation’s largest independent community oncology network with additional resources and expertise to grow platform and improve patient outcomes
• Investment further strengthens AmerisourceBergen’s solutions in Specialty
• Put/call structure provides AmerisourceBergen with capital-efficient pathway to full ownership of OneOncology in three to five years

 

 TPG (NASDAQ: TPG), a global alternative asset management firm, and AmerisourceBergen Corporation (NYSE: ABC) today announced that they have agreed to acquire OneOncology, a network of leading oncology practices, from General Atlantic, a leading global growth equity firm. TPG has agreed to acquire a majority interest in OneOncology, and AmerisourceBergen will acquire a minority interest in the company. OneOncology’s affiliated practices, physicians, and management team will also retain a minority interest in the company. The transaction values OneOncology at $2.1 billion.

“OneOncology has been focused on strengthening independent oncology practices by helping them grow and deliver high-value cancer services, and General Atlantic’s involvement and investment have been central to our success,” said Dr. Jeff Patton, Chief Executive Officer of OneOncology. “As we look ahead, we are excited to continue building the platform in partnership with TPG, a proven investor in the healthcare provider space, and AmerisourceBergen, a healthcare leader with significant capabilities and solutions for community oncology practices.”

“OneOncology’s physician leadership and partnership model provide access to the latest clinical pathways, research, and technology to deliver personalized care with market-leading patient outcomes and experiences. The company is enabling high-quality and efficient cancer care by empowering leading practices and physicians to remain independent while providing benefits of scale that create value for the entire healthcare ecosystem,” said Kendall Garrison, Partner at TPG. “We believe that lower cost, higher quality models represent the future of care delivery, and we are proud to partner with Dr. Patton and the OneOncology team as well as AmerisourceBergen to invest behind accessible, best-in-class clinical care,” said John Schilling, Partner at TPG.

“The investment in OneOncology will allow AmerisourceBergen to further deepen our relationships with community oncologists and expand on our solutions in specialty,” said Steven H. Collis, Chairman, President & Chief Executive Officer of AmerisourceBergen. “As a platform built by and for community oncologists, OneOncology understands the operational complexities oncologists face and works to simplify the provider experience to drive improved patient outcomes. We are excited to work closely with OneOncology’s team and our partners at TPG, who have deep experience and a track record of success in supporting high-quality healthcare companies. Our complementary skill sets and focus on operational excellence and innovation uniquely position us to continue to partner and support OneOncology’s network. We look forward to discussing the transaction in greater detail on our earnings call on May 2, when we will also discuss the continued strength of our business.”

“Our 2018 investment in OneOncology helped launch a shared vision to improve the future of cancer care amidst prevailing cost, quality and access issues,” said Justin Sunshine, Managing Director at General Atlantic. “We are proud that this mission-driven approach has resulted in a leading oncology platform that empowers high-quality and innovative cancer care in the community setting. We wish Dr. Patton and the OneOncology team continued success in their next phase of growth.”

TPG is investing in OneOncology through its U.S. and European late-stage private equity platform, TPG Capital. TPG Capital has a long history of partnering with leading management teams to invest behind healthcare providers and services that are enhancing and transforming how healthcare is delivered for the benefit of patients and the broader healthcare community, including Kelsey-Seybold Clinic, a leading value-based multi-specialty physician group in Greater Houston, Kindred at Home, one of the largest home health and hospice providers in the U.S., and Monogram Health, a value-based specialty provider of in-home evidence-based care and benefit management services for patients living with chronic kidney disease and end-stage renal disease.

https://www.biospace.com/article/releases/tpg-and-amerisourcebergen-to-acquire-leading-specialty-practice-network-oneoncology-from-general-atlantic/

Requesting Disability Accommodations at Work

 For employees with a medical condition that makes it difficult to perform aspects of their job, it may be time to talk with their employer about whether their role can be modified in some way—what’s known as a reasonable accommodation for a disability.  

There’s no time limit on requesting such accommodations, Kevin Abbott, a lawyer at Fennemore Law in California who defends employers in employment and labor-related disputes, told BioSpace.  

And for private sector employers with 15 or more workers, the Americans with Disabilities Act of 1990 (ADA) prohibits retaliating against employees who request accommodations for a disability by, for example, firing or demoting them. Federal employees have similar protections, but under a separate law, the Rehabilitation Act. 

What Qualifies as a Disability?  

Under the ADA, there is “'an expansive view as to what is a disability,” including not only physical but also mental conditions such as anxiety, depression and PTSD, Anita Mazumdar Chambers, a principal at The Employment Law Group in Washington, D.C., told BioSpace.

Symptoms such as back pain may also qualify, particularly if a medical provider can tie it to a pre-existing condition, injury, surgery or diagnosis, she said. 

Prior to requesting accommodation, Chambers recommended touching base with the human resources department to learn about the company’s process for doing so. She also said it’s a good idea for workers to bring their job description to their physician and discuss which aspects of their jobs they can and can’t perform, then have the doctor provide documentation of their limitations. 

According to the U.S. Equal Employment Opportunity Commission (EEOC), requests can be verbal and need not be in a particular format or use particular terminology. But Chambers said it’s best for employees to document the initial request by putting it in writing.

Once an employer receives a request, they may require employees to complete certain paperwork and/or provide documentation of their condition. 

The ADA mandates that once an employer receives a disability accommodation request, they must begin an “interactive process” with the employee to try to find a modification to the employee’s job that allows them to continue in their role, without presenting an “undue hardship” for the employer.  

Possible accommodations, according to the federally funded ADA Network, include providing or adjusting equipment or software, changing the job tasks and allowing a flexible work schedule. 

Abbott said he advises clients to find ways to come to a solution around reasonable accommodation requests, if possible. Chambers said there’s no clear line between reasonable accommodations and those that an employer could legally refuse, as what is reasonable depends on the particular circumstances of the company and the job, and whether the accommodation would present an undue burden for the employer.  

For example, while allowing an employee whose work is entirely computer-based to telecommute would likely be reasonable, she said, that probably wouldn’t be the case for a healthcare worker whose job description includes performing in-person patient care. Moving a disabled employee to a different role within the company should be a last resort, according to the EEOC. 

Much like current employees requesting accommodations, job candidates are legally protected from disability-based discrimination by employers during the hiring process. Abbott said that whether a person broaches the subject of disability accommodations during the hiring process  or once already onboard, “it certainly doesn’t change the employer’s obligation to entertain that and accommodate that.”  

If an employer refuses an accommodation and does not have a basis for asserting an undue hardship, the employee may have a failure to accommodate claim under state and/or federal law, Chambers said. They can contact a lawyer for help filing such a charge, and to discuss the possibility of filing a claim later on. 

According to Chambers, whether to disclose a need for accommodation to a potential employer depends on an individual’s preference. If candidates do decide to disclose a disability during the hiring process, “I think it’s important to emphasize that they can still do the essential job duties with an accommodation,” she said. 

https://www.biospace.com/article/understanding-your-rights-a-guide-to-requesting-disability-accommodations-at-work-/

China experts warns US defense inaction will have a 'catastrophic outcome'

 One foreign policy expert and bestselling author is raising red flags that the United States and its allies may soon no longer be a match against China and its military and technological capabilities.

"They see themselves as becoming the dominant power in the world, and they're working on that strategy. So it's something that we have to take absolutely seriously," Atlas Organization founder Jonathan D.T. Ward said on "Mornings with Maria" Thursday. "If we lose, it's like losing the Cold War [and] would be a catastrophic outcome for the U.S. So we have to take this seriously as a whole country."

On Wednesday, the Biden administration dodged Fox News correspondent Peter Doocy’s question asking when the president plans to confront Chinese President Xi Jinping over recent aggression.

In addition to China’s multiple alleged spy flights and ongoing military drills in waters near Taiwan, the FBI shut down an undisclosed Chinese government police station operating in Manhattan’s Chinatown neighborhood.

The Justice Department recognized the secret police stations as a "significant national security matter," while a U.S. attorney claimed that the FBI's New York field office are the "first law enforcement partners in the world to make arrests in connection with the Chinese government's overseas police stations."

The U.S. could lose a "Cold War" to China, resulting in a "catastrophic outcome" for America, Atlas Organization founder Jonathan D.T. Ward said on "Mornings with Maria" Thursday. (Getty Images)

Ward indicated it’s not just the government’s job, but also citizens and top business leaders to put pressure and deterrence on China’s intimidation efforts.

"We have to get a lot of this done in the 2020s. We're losing ground," the expert warned. "This is the period when many of the Communist Party's own strategies culminate, and they've always had this vision of surpassing the United States. And they realize that a lot of that is, in their eyes, meant to take shape by the 2030s."

"We have this period in which to get our act together, take the fundamental actions that we need to do, and begin to have an economic strategy that can win and rebuild the deterrent capacity of the entire free world," Ward continued. "We're running out of time on that, and this is what counts."

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Former deputy national security adviser KT McFarland discusses what was learned about the war in Ukraine and China's plans to invade Taiwan from leaked Pentagon documents on 'Varney & Co.'

Seeing the FBI "pull the curtain back" on the Chinese Communist Party’s influence on U.S. soil means "there’s probably much, much more going on," Ward also noted.

In 2023, China allegedly plans to boost military spending by 7.2%, up nearly $16 billion from the year prior. The Chinese watchdog claimed their weaponry and strategy is designed for combat with the U.S.

"They're talking about preparing to fight and win wars. They've made it clear that Taiwan is essential to the great rejuvenation of the Chinese nation. That has all been sort of stoked even among the public now in China," Ward said. "So the CCP has made clear what it is intending to do, and we're going to have to respond."

"This needs to be an absolute priority," he added, "and expressed very clearly to the American people."

video

States looking to combat the China threat to US farmland

FOX Business’ Lydia Hu details efforts from various states to protect U.S. farmland with North Carolina being the latest to consider banning foreign investments.

White House Press Secretary Karine Jean-Pierre confirmed Biden has intentions of calling Xi Jinping.

"We have said over and over again that the president intends to call President Xi. We believe it's important to maintain open lines of communication with China.," she said in Wednesday’s press briefing. "We believe that it is an important bilateral relationship."

https://www.foxbusiness.com/politics/china-experts-signals-us-defense-inaction-catastrophic-outcome

Aditxt to Buy Half Ownership of Global Response Aid with Rights to Manufacture and Market Antiviral

 Aditxt,® Inc. (NASDAQ: ADTX) ("Aditxt" or the "Company"), a global innovation company focused on therapeutics and technologies that monitor and modulate the immune system, is pleased to announce the signing of an asset purchase agreement with Cellvera, Ltd. ("Cellvera") that grants Aditxt (whether directly or in its recently formed wholly owned subsidiary Adivir, ™ Inc. ("Adivir"), a 50% ownership in G Response Aid FZE ("GRA" or "Global Response Aid") with the other 50% owned by global logistics leader Agility, Inc. (KW: AGLTY) ("Agility"). The consideration for the transaction is (A) $24.5 million, comprised of: (i) the forgiveness of Aditxt’s $14.5 million loan to Cellvera, and (ii) $10 million in cash, and (B) future royalties for 7 years. Together with Dr. Reddy’s Laboratories, Ltd. (NYSE: RDY), GRA holds an exclusive, worldwide license for Avigan® 200mg, excluding Japan, China and Russia. In connection with the closing of this transaction, the Share Exchange Agreement previously entered as of December 28, 2021, between Cellvera Global Holdings, LLC f/k/a AiPharma Global Holdings, LLC (together with other affiliates and subsidiaries) and Aditxt and all other related agreements will be terminated.

The closing of the transaction remains subject to a number of conditions, including but not limited to, among others, approval by Aditxt’s board of directors to enter into this transaction, financing of the purchase price, regulatory approvals for the transfer of shares, the resolution and satisfaction of all of Cellvera’s creditors inclusive of those creditors who have initiated claims, and securing the rights to additional 3rd-party IP assets. No assurance can be given that all of the conditions to closing will be obtained or satisfied, or that the transaction will ultimately close.

https://finance.yahoo.com/news/aditxt-signs-asset-purchase-agreement-120000681.html