ITonis, Inc. (OTC:ITNS) has shown interest in acquiring high growth, market niche entrepreneurial companies but also remains attached to the pharmaceutical industry where it is working on the distribution of innovative products. Despite being an active company, ITNS’ management has not released news of its future plans for some time. However, the company’s share structure and technicals could make ITNS ripe for a short-term play. With this in mind, ITNS could be one of the penny pharmaceutical stocks to watch.

Catalysts

In 2012, ITNS launched its anti-nausea product – Emesyl® – which was developed by Dr. Charles Hensley, as an over the counter treatment and homeopathic alternative. Hensley is most well known for developing Zicam®, a treatment for cold and allergy relief which has been wildly successful reaching annual projected sales of $90 million for 2021. After leaving ITNS, Hensley gave the patent rights for Emesyl® to ITNS’ subsidiary holding company. Since then the company has launched retail sales of the product as well as made it available online via Amazon.

The company appears to have plans for further developing its product and creating a line of products to accompany Emesyl® nausea relief. ITNS began pursuing this in 2018 with a homeopathic nasal spray containing premium hemp oil. Currently, ITNS has expressed interest in the production and marketing of alternative over the counter and prescription homeopathic remedies to treat common illnesses and chronic diseases.

According to its quarterly report, the company has issued a significant number of convertible notes, but some speculative investors are anticipating an acquisition of some kind in the company’s future. Pointing to its share structure and partly private ownership, investors are hoping to break the resistance near .0043 to jumpstart a runup to July’s high of .0055. However it will take a significant influx of volume to achieve this. ITNS has 1.8 billion authorized shares of which 1.5 billion are outstanding.

Media Sentiment

@TickerBellDust Let’s hope ITNS just feels like running…

Technical Analysis

penny pharmaceutical stocks ITNS chart

Currently trading at $.0040, ITNS has a resistance at .0043 and .0045. Its support formed at .0038 and the chart shows significant volatility due to low-volume. The stock also has very low accumulation and an RSI of 48.77. However, it recently had a bullish crossover.

Should you Buy?

While there are no official updates from the company itself, ITNS appears to be planning for future acquisitions without a preference for any particular sector. Investors are hoping for news that could cause ITNS to break its resistance and runup in the process. With that in mind, an acquisition would be a major catalyst for this stock. Although this is a risky bet, the gains in the runup could be significant. Now bullish investors are showcasing serious patience as they wait for this technical play come to fruition and see ITNS become one of the penny pharmaceutical stocks on the run.

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