The penny stock space consistently attracts a lot of attention from both seasoned and newbie investors. Here is a look at five stocks that could added to their watch lists now for 2023.

Catheter Precision Inc. (NYSE American: VTAK), a United States-based innovative medical device company, is involved in introducing new solutions for the purpose of improving cardiac arrhythmia treatment. Catheter Precision Inc. is involved in the development of leading-edge technologies for electrophysiology procedures.

The company also collaborates with physicians to continuously improve the quality of its products. Previously, the company was known as Ra Medical Systems Inc., but on August 17, 2023, it changed its name to Catheter Precision Inc. On August 31, Catheter Precision announced that it had entered a distribution partnership with Singapore-based medical device distributor Somnotec (S) Pte Ltd. As per the terms of the agreement, Somnotec would be responsible for the distribution of the company’s LockeT device in Brunei, Singapore, Malaysia, and the Philippines.

The interim chief executive officer of the company, David Jenkins, spoke about the development at the time. He noted that LockeT was the latest product from the company at the time, and Catheter Precision was looking to expand the footprint of the product outside the United States.

He stated that the decision to go into a large firm like Somnotec would help the company hit that strategic goal. He went on to say that the management was scouting for more partnerships so as to distribute the product in new territories like the Middle East, Australia, South America, Japan, and Central America.

Axcella Therapeutics (NASDAQ: AXLA) is a clinical-stage biotech company that is involved in developing a new approach to target the biology of a number of complex diseases. Axcella Therapeutics does that through the use of endogenous metabolic modulators (EMMs).

On August 29, the company announced that it had been granted a patent by the United States Patent and Trademark Office. The company revealed at the time that the patent was related to methods of using AXA1125, a product candidate, for the treatment of fatigue from long-term COVID.

The patent would expire in 2042. The Chief Legal Officer and Senior Vice President of the company, Paul F. Fehlner, spoke about the patent approval. He noted that the issuance of the patent expanded the company’s patent portfolio. He went on to note that the issuance also protected AXA1125, the company’s lead candidate.

Novo Integrated Sciences Inc. (NASDAQ: NVOS): The company is involved with the development of a pioneering holistic approach to health and wellness that puts patients first. Novo Integrated Sciences Inc. aims to achieve that through a healthcare ecosystem of product innovation and services.

On August 31, the company announced that it had been awarded an underwriting clearance notice by RC Consulting Group LLC.The notice informed that the compliance review and underwriting analysis process related to the transaction between RC and Novo in favor of SCP Tourbillion Monaco (the buyer) had been affirmed and approved for completion.

Consequently, it had also been recommended to move forward with the aim of completing the transaction. It was, in essence, an underwriter clearance received by the company for its $70,000,000 promissory note with a tenure of 15 years.

Marin Software (NASDAQ: MRIN) On September 5, the company revealed that it had opted for an innovative integration with the firm HubSpot. The innovative integration had been tailored in a way to unlock the possibilities of CRM data for performance marketing entities. It was further revealed by Marin Software that the integration was also meant to boost campaign success metrics.

Additionally, it would also provide marketers with a far more complete view of the marketing project that would go beyond mere website activities and online interaction data. It ought to be noted that the classical campaign optimization techniques have been restricted to online activities.

However, those techniques failed to utilize the mountain of customer insights that could be gleaned from CRM data. HubSpot is well-known for its prowess as an inbound marketing entity. Through their collaboration with Marin Software, a leader in digital marketing optimization and marketing analysis, the two are expected to boost campaign insights considerably.

Kaival Brands Innovations Group Inc. (NASDAQ: KAVL): The company is focused on the incubation of profitable and innovative adult products. Kaival Brands Innovations Group Inc. is known for turning those products into dominant brands. Currently, the company is focused on electronic nicotine delivery systems (ENDS) distribution. The company aims to expand into other forms of nicotine and non-nicotine products.

The company, which is the exclusive distributor of Bidi Vapor LLC products, announced on August 29 that it had added more than 2700 Circle K outlets for distribution. The Chief Executive Officer, Eric Mosser, noted that following the initial June 2023 rollout, the product was available in over 1,000 locations. However, the number had been boosted in the intervening period. The day before, the company announced that it had promoted Stephen Sheriff to the position of chief operating officer. The appointment went into effect on August 22, 2023.

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