In this piece we will discuss the top ten penny stocks to watch that surged in 2025.
If you’ve been searching for penny stocks to watch in 2025, you are not alone, because the market has been full of surprises this year. Investor sentiment has brightened dramatically as hopes grow for interest rate cuts and a strong year end rally. According to Bloomberg, both Asian and European stocks have been pushing higher, with traders betting that upcoming Federal Reserve policy changes could further lift market momentum. That kind of broad optimism doesn’t just help the big indexes, it often sparks renewed interest in high risk, high reward plays like penny stocks.
Meanwhile, U.S. policy developments are also making headlines and could shape investment behavior going forward. Reuters recently reported on the launch of new “Trump Accounts,” an initiative that aims to boost long term wealth building for millions of American children by investing government seeded funds into low cost portfolios. While the program is still surrounded by questions, it signals a growing push to connect everyday families to the world of investing. And as more new investors enter the market, curiosity about affordable stocks, including penny stocks under $5, naturally increases.
On the economic front, CNBC highlighted rising U.S. Treasury yields as traders continue to expect a Federal Reserve interest rate cut. When yields and inflation expectations shift, traders often rotate capital into undervalued assets with greater growth potential, and historically, that’s exactly when some penny stocks shine.
All of this creates a fascinating backdrop for 2025: a blend of optimism, policy changes, and shifting economic signals. And in markets like these, small cap companies can move fast, sometimes doubling or tripling in a matter of weeks.
So in this article, we are diving into the top ten penny stocks to watch that surged in 2025, the names that are already making waves and could keep defying expectations as the year unfolds. Ready to explore the underdogs? Let’s get started.
Our methodology for identifying top 10 penny stocks to watch that surged in 2025
To identify the stocks featured in this article, we screened U.S. listed companies with a market cap of more than $300 million and a current share price below $5 as of December 4. We further filtered the list to include only those with positive year to date performance in 2025. The final selection is arranged in ascending order based on YTD price performance.
Top 10 Penny Stocks To Watch That Surged in 2025
10. Gossamer Bio, Inc. (NASDAQ:GOSS)
YTD Price Performance as of December 4: 278%
Gossamer Bio, Inc. (NASDAQ:GOSS) is a biotech company based in San Diego and focused on developing treatments for serious lung diseases. Its lead drug seralutinib is currently in a Phase 3 trial for pulmonary arterial hypertension (PAH). With promising science behind it, the company is aiming to bring a much needed therapy to patients in the United States.
Gossamer Bio, Inc. (NASDAQ:GOSS) remains one of the interesting penny stocks to watch as it advances its lead drug seralutinib through late stage clinical trials. The company highlighted strong progress in the third quarter of 2025, including the completed enrollment of its Phase 3 PROSERA study for pulmonary arterial hypertension. Results from this pivotal trial are expected in February 2026, marking a major upcoming catalyst that could significantly influence the stock’s direction.
Another key achievement is the activation of the first clinical sites for the SERANATA Phase 3 trial in pulmonary hypertension associated with interstitial lung disease. This represents a second large commercial opportunity if the treatment proves successful. Management also presented new scientific data at a major respiratory conference, further supporting the drug’s potential benefits in reducing fibrosis and inflammation.
Financially, Gossamer Bio, Inc. (NASDAQ:GOSS) ended the quarter with $180 million in cash, which is expected to fund operations into 2027. However, losses increased year over year due to higher research expenses, showing the business remains reliant on trial success and future approvals. Investors should also consider regulatory risk and the possibility that clinical results may not meet expectations.
As of December 4, the stock trades at $3.42 against an average analyst target of $9.50. That implies a substantial upside potential of 178%.
Overall, Gossamer Bio, Inc. (NASDAQ:GOSS) is a high risk, high reward candidate among penny stocks to watch as it approaches critical data in 2026.
09. CytomX Therapeutics, Inc. (NASDAQ:CTMX)
YTD Price Performance as of December 4: 288%
CytomX Therapeutics, Inc. (NASDAQ:CTMX) is a small biotech aiming to change how we treat cancer. Instead of traditional therapies, they’re developing smart drugs that activate only inside tumors to reduce side effects. With big name partners and several drugs in the pipeline, this company could be one of the penny stocks to watch in the oncology space.
CytomX Therapeutics, Inc. (NASDAQ:CTMX) is gaining attention among clinical stage oncology companies as it advances a unique approach to cancer treatment through its PROBODY technology. The company’s lead program, CX-2051, is targeting colorectal cancer, one of the most challenging cancers with high mortality and very limited treatment success in late stage patients.
Early Phase I results released this year showed meaningful tumor reductions and disease control in nearly every patient tested, including those with aggressive disease profiles. This has positioned CX-2051 as a potential first in class EpCAM directed antibody drug conjugate that could reshape the treatment landscape if future data remains positive. A major update is expected in Q1 2026, making CytomX Therapeutics, Inc. (NASDAQ:CTMX) one of the penny stocks to watch heading into the new year.
The company is also advancing CX-801 for advanced melanoma in combination with KEYTRUDA. Early biomarker data shows strong immune activation in tumors, supporting the idea that the masking technology may improve safety and effectiveness compared to unmasked interferon therapies.
Financially, CytomX Therapeutics, Inc. (NASDAQ:CTMX) ended Q3 2025 with over $143 million in cash, expected to support operations into 2027. While revenue fell due to the completion of a prior collaboration, reduced operating expenses show a disciplined spending approach. As with any biotech still in clinical stages, the stock carries high risk, but upcoming catalysts could be significant for long term investors.
On December 4, shares are priced at $4.00 vs. a $7.07 analyst target. Analysts see the stock gaining 77% from current levels.
08. Trilogy Metals Inc. (NYSE:TMQ)
YTD Price Performance as of December 4: 291%
Trilogy Metals Inc. (NYSE:TMQ) is a small mining company with its sights set on essential metals like copper and cobalt, critical ingredients for clean energy and electronics. Its key projects are located in Alaska, offering access to high value resources that could benefit future demand trends. If you are tracking emerging opportunities in the mining sector, this one might be worth keeping on your list.
Trilogy Metals Inc. (NYSE:TMQ) remains one of the penny stocks to watch in the mining sector due to its strategic position in Alaska’s Ambler mining district and advancing copper focused projects. In the third quarter of 2025, the company reported a net loss of $1.7 million, slightly higher than the same period last year. This increase was mainly driven by development and environmental field work being carried out at its Upper Kobuk Mineral Projects through the joint venture with South32. The company continues to move forward with technical programs like core reboxing and baseline environmental studies that support long term project viability.
A key achievement this year has been securing a base shelf prospectus that allows Trilogy Metals Inc. (NYSE:TMQ) to raise up to $50 million in future financing. The firm also set up an at the market equity program which provides flexible capital raising capability when needed to fund future project contributions.
However, risks remain significant. Trilogy Metals Inc. (NYSE:TMQ) does not yet have active production and relies heavily on regulatory approvals, future financing and supportive metal prices. The Ambler Access Project still faces permitting uncertainty which could impact future development timelines. For speculative investors focused on long term copper exposure, Trilogy Metals Inc. (NYSE:TMQ) stands out as one of the penny stocks to watch but it carries notable project and funding risks.
As of December 4, Trilogy Metals Inc. (NYSE:TMQ) stands at $4.53 with a $5.50 target. This represents an estimated 21% upside.
07. International Tower Hill Mines Ltd. (NYSE:THM)
YTD Price Performance as of December 4: 293%
International Tower Hill Mines Ltd. (NYSE:THM) is a gold focused developer working on a major project in Alaska. With full ownership of the Livengood gold deposit, the company’s upside depends on advancing this large resource and benefiting from strong gold prices. For investors interested in early stage mining plays, this one could be a name to keep on the radar.
International Tower Hill Mines Ltd. (NYSE:THM) continues to stand out among penny stocks to watch due to its full ownership of the Livengood Gold Project in Alaska. This development stage asset holds a significant 9 million ounces of proven and probable gold reserves, making it one of the largest undeveloped gold projects controlled by a single junior mining company. In 2025, the company advanced its work program with metallurgical studies, environmental data collection and community engagement, all necessary steps toward future permitting.
Financially, the company reported a net loss of $732,000 for the third quarter, slightly higher than the same period in 2024. Costs increased mainly due to rising field and legal expenses tied to continued project advancement. A positive development this year was the successful private placement that raised about $3.9 million from major shareholders, strengthening liquidity. Cash and cash equivalents reached $2.3 million at quarter end, up from year end 2024.
However, key risks remain. International Tower Hill Mines Ltd. (NYSE:THM) has no revenue producing operations and will require substantial future financing to move Livengood toward construction. Permitting timelines and gold price volatility also add uncertainty. For high risk investors seeking long term gold exposure, this remains one of the speculative penny stocks to watch, backed by a large resource but dependent on capital markets and regulatory progress.
The stock is at $1.79 on December 4 compared to a $2.00 target. That suggests a modest 12% potential increase.
06. Integra Resources Corp. (NYSE:ITRG)
YTD Price Performance as of December 4: 318%
Integra Resources Corp. (NYSE:ITRG) is a small precious metals company exploring and developing gold and silver projects across the Western U.S. Its main focus is the DeLamar project in Idaho, supported by additional early stage assets in Nevada and Arizona. With exposure to rising metals prices and expansion potential, it’s a mining name that could capture investor interest.
Integra Resources Corp. (NYSE:ITRG) is strengthening its position as one of the penny stocks to watch in the gold mining space due to strong operational momentum at its Florida Canyon Mine. In Q3 2025, the company delivered record revenue of $70.7 million and record mine operating earnings of $28.6 million supported by the sale of 20,265 gold ounces at an impressive $3,464 per ounce. Cash flow generation increased significantly with $35.6 million in operating cash flow and $20.2 million in free cash flow which helped push the cash balance to $81.2 million, the highest level the company has achieved.
Production efficiencies and ongoing investments in heap leach expansion, mining equipment improvements and exploration drilling show a focus on sustaining growth and extending mine life. Key progress was also made at the DeLamar Project including acceptance of the Mine Plan of Operations and a new partnership with the Shoshone Paiute Tribes which supports future development planning.
Investors should keep risks in mind. Integra Resources Corp. (NYSE:ITRG) reported a net loss of $8.2 million due to non cash derivative impacts and higher taxes. Operating costs remain elevated because of higher royalties linked to strong gold prices. Future value creation depends on successful permitting and supportive gold market trends.
Despite these risks, Integra Resources Corp. (NYSE:ITRG) remains one of the promising penny stocks to watch with increasing production strength and an improving financial position.
At $3.64 on December 4, analysts project the stock could rise to $4.75. This indicates a 30% upside.
05. NovaBridge Biosciences (NASDAQ:NBP)
YTD Price Performance as of December 4: 353%
NovaBridge Biosciences (NASDAQ:NBP) is a young cancer focused biotech developing next generation immunotherapy drugs. Its lead treatments are already in early clinical trials, and the company has partnerships with big pharma players to help push them forward. For investors keeping an eye on promising biotech innovators, NovaBridge could be an interesting one to follow.
NovaBridge Biosciences (NASDAQ:NBP) remains one of the most compelling penny stocks to watch in the biotech space as the company continues to advance its lead pipeline asset givastomig. The recent Phase 1b update presented at ESMO GI 2025 delivered an impressive 83% objective response rate in first line metastatic gastric cancer patients. Responses were rapid and durable, which strengthens the drug’s potential to become a best in class therapy targeting Claudin 18.2.
A major highlight is the company’s strong financial position. With net proceeds of $61.2 million from its August financing, NovaBridge Biosciences (NASDAQ:NBP) now has a pro forma cash balance of $226.8 million. Management believes this funding will support clinical operations through the fourth quarter of 2028. Lower operating expenses including reduced research and administrative costs have also improved the near term financial outlook.
However, investors should recognize key risks. The company remains heavily dependent on a single pipeline asset, and regulatory outcomes can significantly affect valuation. Despite narrowing losses, NovaBridge Biosciences (NASDAQ:NBP) is still not generating revenue and burn rates could rise as trials progress to Phase 2. Any delay in the Q1 2026 topline data or safety concerns could weigh on sentiment.
Overall, NovaBridge Biosciences (NASDAQ:NBP) stands out as a high potential but high risk name among penny stocks to watch in immuno oncology.
On December 4, the share price is $3.85 with an $8.33 target. Analysts expect a strong 116% upside.
04. Village Farms International, Inc. (NASDAQ:VFF)
YTD Price Performance as of December 4: 367%
Village Farms International, Inc. (NASDAQ:VFF) is a unique player that blends fresh produce farming with the fast growing cannabis market. From greenhouse grown vegetables to cannabinoid wellness products, the company taps into multiple consumer trends.
Village Farms International, Inc. (NASDAQ:VFF) delivered another set of impressive results in Q3 2025, reinforcing its position as one of the top penny stocks to watch in the cannabis sector. The company beat earnings expectations with EPS of $0.08474 versus the expected $0.03. Consolidated net sales grew 21% year over year and net income from continuing operations reached $10.8 million. Strong execution also drove record adjusted EBITDA of $20.7 million and a 31% margin, supported by efficient operations and solid pricing momentum.
The Canadian cannabis division continues to be the main growth engine. Net sales increased 29% and gross margin reached 56%, well above target. International medical cannabis exports surged more than 750% from last year, positioning Village Farms International, Inc. (NASDAQ:VFF) as one of the leading cannabis exporters to Europe. Expansion in The Netherlands is progressing as well, with a second facility expected to significantly scale production in 2026.
However, risks remain. Expansion requires ongoing capital investments and rising operating expenses in Europe may temporarily pressure margins. The company is also heavily exposed to regulatory developments in both Canada and Europe. Any slowdown in demand or pricing could impact future profitability.
Even so, rapid growth, strong cash flow, and accelerating global market penetration make Village Farms International, Inc. (NASDAQ:VFF) a standout among penny stocks to watch heading into 2026.
Trading at $3.60 on December 4, the average target stands at $4.92. The upside potential is about 37%.
03. Americas Gold and Silver Corporation (NYSE:USAS)
YTD Price Performance as of December 4: 378%
Americas Gold and Silver Corporation (NYSE:USAS) is a mining company focused on producing precious and base metals across North and South America. With active operations and exposure to gold and silver markets, it aims to benefit from rising demand and commodity prices.
Americas Gold and Silver Corporation (NYSE:USAS) delivered a strong operational performance in Q3 2025, reinforcing why it remains one of the penny stocks to watch in the precious metals space. The company reported revenue of $30.6 million, which was up 37% from last year, supported by higher realized silver prices near $40 per ounce and major gains in production. Silver output surged 98% year over year to 765,000 ounces, driven by improvements at both the Galena Complex in Idaho and the Cosalá operations in Mexico. These upgrades included new development equipment, long hole mining techniques and enhanced ventilation that helped boost productivity and reduce cost per ounce.
The company is also pushing forward with its growth plan. EC120 contributed $12.9 million in preproduction revenue and is expected to reach commercial production by the end of 2025 which would further expand free cash flow. Antimony recovery progress is another strategic win since this critical mineral has seen rising demand due to supply constraints.
However, risks remain. The company reported a net loss of $15.7 million and still depends heavily on higher metals prices and timely project execution. Any disruption in the expansion plan or regulatory changes could weigh on performance.
As of December 4, Americas Gold and Silver Corporation (NYSE:USAS) price is $4.49 vs. a $5.78 target. That reflects a projected 29% upside.
02. Invivyd, Inc. (NASDAQ:IVVD)
YTD Price Performance as of December 4: 403%
Invivyd, Inc. (NASDAQ:IVVD) is a biotech company working on advanced antibody therapies to protect against infectious diseases like COVID 19 and the flu. Its lead drug, PEMGARDA, is designed to offer longer lasting protection for high risk individuals. With multiple candidates in development, Invivyd is aiming to play a key role in next generation disease prevention.
Invivyd, Inc. (NASDAQ:IVVD) continues to gain attention as one of the penny stocks to watch in the biotech space as management works toward transforming COVID prevention for vulnerable patients. The company sees Q3 2025 as a turning point, driven by growing uptake of its antibody product PEMGARDA and a major strategic shift toward its next generation antibody candidate VYD2311. The FDA has encouraged Invivyd to develop VYD2311 for broader patient populations that are not fully protected by current vaccines. This represents a large commercial opportunity, especially as real world data continues to highlight concerns about durability and side effects of mRNA vaccines.
Invivyd, Inc. (NASDAQ:IVVD) raised approximately $87 million during and shortly after the quarter. This funding strengthens its balance sheet and supports the pivotal clinical program that will begin around year end. Top line data is expected in mid 2026. The company believes that a single dose of VYD2311 could provide months of protection and possibly up to a year, which could make it a strong alternative for people who do not want frequent vaccine boosters.
There are still risks. The company reported a loss with EPS at $0.06153 negative, slightly worse than expectations. Regulatory approvals and clinical outcomes remain critical. Revenue growth depends heavily on successful commercialization.
Shares of Invivyd, Inc. (NASDAQ:IVVD) trade at $2.23 on December 4 while analysts expect $7.33. This offers an impressive 229% upside.
01. The Oncology Institute, Inc. (NASDAQ:TOI)
YTD Price Performance as of December 4: 894%
The Oncology Institute, Inc. (NASDAQ:TOI) is a growing cancer care provider offering everything from chemotherapy and clinical trials to patient support services under one roof. Its focus is on delivering accessible, community based treatment for adults and seniors. As it expands across the U.S., this healthcare company could attract attention from investors watching the oncology space.
The Oncology Institute, Inc. (NASDAQ:TOI) continues to build strong momentum and remains one of the most interesting penny stocks to watch in the healthcare sector. The company delivered a standout Q3 2025 with revenue of $136.6 million, representing nearly 37% year over year growth. The earnings result also beat expectations with EPS at $0.01693 negative versus the expected $0.12 negative, showing continued improvement toward profitability. A major milestone was achieved as the company recorded its first adjusted EBITDA positive month in September which supports the goal of achieving profitability in Q4 2025.
Growth was driven by a 57% rise in Pharmacy revenue and a 39% increase in capitated revenue where the delegated model in Florida is rapidly expanding. The company doubled its Medicare Advantage lives through its partnership with Elevance Health and continues to scale its MSO provider network which has now passed 200 providers. Technology upgrades are also improving efficiency including a new AI enabled authorization process that reduces submission time from 18 minutes to 5 seconds and could yield up to $2 million in annual savings.
Risks remain. A cybersecurity incident temporarily affected billing and cash flow from operations was $27.8 million negative. Debt remains significant with $86 million in convertible notes.
On December 4, the stock of The Oncology Institute, Inc. (NASDAQ:TOI) is priced at $3.07 with a $6.50 target. The potential upside stands at 112%.
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Disclaimer: This is not financial advice. This article is for informational purposes only. Investing involves risk, and you may lose money. Always consult a licensed professional. See our full disclaimer. The article is originally published on TheRichStocks.com.
