JKL Pharmaceuticals is also a great case. They were a relatively unknown penny stock. But they were working on a unique cancer treatment. Their approach was different from the traditional ones, which caught the eye of some venture capitalists. These early investors provided the necessary funds for initial trials. The positive results from the trials led to more investment. They were also able to license their technology to other companies in different regions. This has led to a substantial growth in their stock price and made them a successful penny - stock - turned - significant - player in the pharmaceutical field.
MNO Therapeutics was once a penny stock that seemed to be on the verge of disappearing. But they had a new antibiotic in development. At a time when antibiotic resistance was a major global concern, their research was timely. They received some government funding for their project. This enabled them to conduct more comprehensive trials. As the data showed the effectiveness of their antibiotic, their stock price started to climb. They've since been able to build a stronger brand, attract more investors, and are now looking at expanding their product line based on their initial success.