Penny Stock Pick - NERX

Sweet New Funding Penny stock pick of the day is NeoRx Corp. (NERX), a Seattle, WA based cancer therapy products maker. It's cancer treatment product, Picoplatin, in phase 2 clinical trial stage, is to be used for curing lung cancers and colorectal cancer. For a company that has yet to have its product on the market, the best news would be funding. Today the company accounced that it has received additional $65 million in funding from MPM Capital and the positive news send the stock up 25 cents or 29.76% to $1.09 per share. Now as the stock price is above $1, the company won't need to worry about been delisted from Nasdaq.

Technical
Although the current technical chart is showing that the stock is trading below both 50 day and 200 day moving average, the surge today will send the price well above both moving averages. If the surge can continue as the KD indicates, MACD may be pushed to above 0, indicating a buy.

Financial
From the financial side, the company basically didn't earn anything for the past quarters so it has to rely on strong cash to carry it thru before the product hits the market. Additional funding of 64 million should extend the lifeline of the company to another couple of years on current rate of expense.

Penny Stock Score (1~5) 5 is highest
1.Technical: 4
2.Financial: 2
3.Market Potential: 4
4.News Buzz: 4
Recommendation: Buy