In a briefing Sunday afternoon, the Trump administration announced it’s approval of an Emergency Use Authorization (EUA) of convalescent plasma for COVID-19 treatment.
The FDA said more than 70,000 patients had been treated convalescent plasma, made using the blood of people who have recovered from coronavirus infections.
“Today I am pleased to make a truly historic announcement in our battle against the China virus that will save countless lives, Today’s action will dramatically increase access to this treatment.President Donald Trump @ White House Briefing
Last week, Trump accused some health officials of playing politics regarding an EUA for convalescent plasma. When asked about the FDA not having granted an EUA, Trump said the reason was political.
Convalescent plasma is taken from the blood of people who have recovered from Covid-19. At the end of March, the FDA set up a pathway for scientists to try convalescent plasma with patients and study its impact. It has already been used to treat more than 60,000 Covid-19 patients.
Trump’s pressure on regulators has drawn criticism from scientists and lawmakers who have warned that the president is pressuring regulators to deliver a vaccine before the November election, even if data from clinical trials do not support widespread use.
Stock Watchlist: Top 2 convalescent plasma stocks to buy
Sonnet BioTherapeutics (SONN)
Sonnet BioTherapeutics on Friday has reached a new 52-week low of $2.40 during the morning session. However, some have considered this not only one of the low float penny stocks to watch but also a plasma stock to watch considering its operations.
The last time I saw a member government mention optimism related to blood plasma, it was at the end of July. In light of this, SONN stock skyrocketed leading to one of its most active trading days of the year.
ADMA Biologics (ADMA)
ADMA stock has been relatively flat. Though at the end of July, ADMA jumped aggressively higher following The Wall Street Journal coming out with a report that suggested potential opportunities for plasma collection companies. While the penny stock enjoyed a nice 2-day pop, shares came crashing down shortly after.
However, even as the stock has dropped, it looks like insiders are buying shares. Between August 10th and 13th, officers and directors of the company purchased shares between $2.87 and $3.07 in the open market. Late last week, most plasma stocks took a hit after the New York Times reported the FDA Emergency Use Authorization approval of blood plasma as a potential COVID-19 treatment was on hold.
Other stocks to add to your watchlist
- Kamada (KMDA)
- Fluidigm Corporation (FLDM)
- T2 Biosystems (TTOO)
- Liminal Biosciences (LMNL)
- Cerus Corporation (CERS)
- XBiotech (XBIT)
- Takeda Pharmaceuticals (TAK)
- Sorrento Therapeutics (SRNE)
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