3 US Penny Stocks With Market Caps Over $40M To Consider

As the U.S. stock market takes a breather following a post-election rally, investors are keenly observing opportunities that might arise in different sectors. Penny stocks, despite their somewhat outdated name, remain relevant as they often represent smaller or newer companies with potential for growth. With strong financial foundations and solid fundamentals, these stocks can offer valuable opportunities for those willing to explore beyond the well-trodden paths of larger firms.

Top 10 Penny Stocks In The United States

Name	Share Price	Market Cap	Financial Health Rating
BAB (OTCPK:BABB)	$0.839	$5.67M	★★★★★★
RLX Technology (NYSE:RLX)	$1.59	$2.03B	★★★★★★
QuantaSing Group (NasdaqGM:QSG)	$3.08	$161.01M	★★★★★★
AsiaFIN Holdings (OTCPK:ASFH)	$1.00	$79.11M	★★★★★★
Data Storage (NasdaqCM:DTST)	$4.94	$33.86M	★★★★★★
PHX Minerals (NYSE:PHX)	$3.34	$125.56M	★★★★★☆
So-Young International (NasdaqGM:SY)	$1.25	$86.82M	★★★★☆☆
Golden Growers Cooperative (OTCPK:GGRO.U)	$4.50	$69.71M	★★★★★★
Better Choice (NYSEAM:BTTR)	$2.096	$3.92M	★★★★★★
CBAK Energy Technology (NasdaqCM:CBAT)	$0.975	$91.29M	★★★★★☆

Click here to see the full list of 739 stocks from our US Penny Stocks screener.

Here's a peek at a few of the choices from the screener.

Ikena Oncology (NasdaqGM:IKNA)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Ikena Oncology, Inc. is a U.S.-based oncology company focused on developing differentiated therapies targeting cancer growth, spread, and resistance, with a market cap of approximately $84.45 million.

Operations: No revenue segments have been reported.

Market Cap: $84.45M

Ikena Oncology, Inc., with a market cap of US$84.45 million, is currently pre-revenue and unprofitable, reporting less than US$1 million in revenue. Despite this, the company has no debt and a robust cash position with short-term assets of US$141.5 million exceeding liabilities significantly. It has enough cash runway for 2.5 years if current cash burn trends continue. Recent earnings reports show reduced losses compared to the previous year, although profitability isn't expected soon. The management team is relatively new with an average tenure of 1.1 years, while board members have more experience at four years on average.

• Navigate through the intricacies of Ikena Oncology with our comprehensive balance sheet health report here.
• Gain insights into Ikena Oncology's outlook and expected performance with our report on the company's earnings estimates.

MediciNova (NasdaqGM:MNOV)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: MediciNova, Inc. is a biopharmaceutical company that develops novel small molecule therapeutics for serious diseases with unmet medical needs in the United States and has a market cap of $75.04 million.

Operations: MediciNova, Inc. does not report any revenue segments.

Market Cap: $75.04M

MediciNova, Inc., with a market cap of US$75.04 million, is a pre-revenue biopharmaceutical company focused on developing therapeutics for serious diseases. Despite its unprofitability and negative return on equity of -14.22%, MediciNova has no debt and maintains a solid cash runway exceeding three years, supported by short-term assets of US$45.5 million against liabilities totaling just over US$3 million. Recent developments include securing a significant NIH grant for ALS treatment trials and obtaining patent allowances for MN-166 in post-COVID conditions, reflecting potential growth avenues despite current financial challenges. The management team is experienced with an average tenure of 8.3 years.

• Click here and access our complete financial health analysis report to understand the dynamics of MediciNova.
• Understand MediciNova's earnings outlook by examining our growth report.

Rallybio (NasdaqGS:RLYB)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Rallybio Corporation is a clinical-stage biotechnology company focused on developing and commercializing therapies for severe and rare diseases, with a market capitalization of $43.56 million.

Operations: Rallybio Corporation has not reported any revenue segments as it is currently a clinical-stage biotechnology company.

Market Cap: $43.56M

Rallybio Corporation, with a market cap of US$43.56 million, is a pre-revenue clinical-stage biotech firm focusing on rare diseases. Despite its unprofitability and negative return on equity of -83.7%, Rallybio remains debt-free and possesses a robust cash runway exceeding three years, supported by short-term assets of US$91.4 million against liabilities totaling approximately US$12.2 million. Recent milestones include regulatory approvals for Phase 2 trials of RLYB212, indicating potential therapeutic advancements despite financial hurdles. The management team and board are seasoned, averaging tenures of 5.8 and 4.1 years respectively, providing stability during this developmental phase.

• Jump into the full analysis health report here for a deeper understanding of Rallybio.
• Review our growth performance report to gain insights into Rallybio's future.

Where To Now?

• Click this link to deep-dive into the 739 companies within our US Penny Stocks screener.
• Already own these companies? Bring clarity to your investment decisions by linking up your portfolio with Simply Wall St, where you can monitor all the vital signs of your stocks effortlessly.
• Elevate your portfolio with Simply Wall St, the ultimate app for investors seeking global market coverage.

Searching for a Fresh Perspective?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Jump on the AI train with fast growing tech companies forging a new era of innovation.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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