12 Best Penny Stocks to Invest in According to the Media

10. Invivyd, Inc. (NASDAQ:IVVD)

Share Price (As of January 3): $0.56

Number of Hedge Fund Holders: 16

Headquartered in Waltham, Massachusetts, Invivyd, Inc. (NASDAQ:IVVD) is a commercial-stage biopharmaceutical company. The company is engaged in the discovery, development, and commercialization of antibody-based solutions for infectious diseases in the US. The company is currently focused on COVID-19 and influenza treatments.

Invivyd, Inc.’s (NASDAQ:IVVD) most successful find has been its pemivibart injection, developed for the viral infection COVID-19. Also known as PEMGRADA, the injection has demonstrated 80% to 90% efficacy in reducing the symptomatic risk of COVID-19 in clinical trials. PEMGRADA has already obtained FDA approval and the company is working on another COVID-19 candidate known as VYD2311. Moreover, the company is advancing in the discovery stage of candidates for the prevention of seasonal influenza. The company has enough inventory of PEMGARDA, which positions it to meet the demand for future sales without immediate manufacturing expenses.

During the third quarter of 2024, the company generated a net product revenue of $9.3 million, driven by the sale of pemivibart. Invivyd expects to turn profitable by mid-2025, driven by existing cash reserves and operational efficiency improvements. By the end of Q3, the company had $107 million in cash and cash equivalents.

To further strengthen its business, Invivyd, Inc. (NASDAQ:IVVD) is expanding its commercial endeavors through collaborations with infusion centers. In addition to that, the company is also developing a digital presence to enhance its service for the immunocompromised community.