Penny stocks can be simply defined as stocks that trade at less than $5 per share. Of course, there are other criteria such as trade volume and market cap that some will check before labeling something as an official penny stock, but for the purposes of this article, we’ll stick to just share price. These “cheap” stocks are typically exciting but far too risky to be worthy of any serious consideration by traditional investors. However, the biotech space is arguably one intriguing exception to this general rule of thumb.