10 Best Fast-Growing Penny Stocks to Buy Now

4. Autolus Therapeutics PLC (NASDAQ:AUTL)

3-Year Revenue CAGR: 51.85%

Year-over-Year Revenue CAGR: 40.22%

Share Price as of September 5: $4.10

Number of Hedge Fund Holders: 24

Autolus Therapeutics PLC (NASDAQ:AUTL) is a clinical-stage biopharmaceutical company in London that develops T-cell therapies to treat cancer and autoimmune diseases. It is now transitioning from a research and development-stage biotech to a commercial-stage one.

The company has partnered with many other healthcare players to drive up capital, such as BioNTech, which allowed it to add $600 million to its balance sheet in Q1 this year.

Blackstone Life Sciences has a deal with the company to provide up to $250 million in financing for its drug development and commercialization. Blackstone is interested in the company because of its potential to deliver lifesaving treatments to cancer patients.

In Q2, the net operating costs were up due to the ongoing investments in product development. Therefore, Autolus Therapeutics PLC (NASDAQ:AUTL) reported a net loss of $58.3 million this quarter, up from $45.6 million in Q2 2023.

Its AUTO6NG program has initiated patient treatment in the second quarter, and the company plans to share additional clinical data and publications related to its programs in the latter half of 2024.

It is expected that the company will soon be able to launch Obe-cel in the US market, with a PDUFA date set for November 16, 2024, and has submitted a Market Authorization Application (MAA) to the UK’s MHRA for Obe-cel.

Despite challenges, 24 hedge funds are long in its stock currently, with the highest stake valued at $53,147,159 by Deep Track Capital.