Skyline Medical Inc (NASDAQ:SKLN)
Skyline Medical Inc (NASDAQ:SKLN) shares rose over 11% on the back of news that the fluid management systems firm announced a strategic collaboration to use their proprietary Helomics D-CHIP™ platform to develop new approaches for personalized cancer diagnosis and care. This collaboration is seen as part of Skyline’s attempt to diversify its revenue channels. SKLN shares ended Tuesday at $1.88 then gapped up to open at $2.26 before hitting their inter-day high of $2.50. SKLN stock closed at $2.09.
Skyline Medical Inc (NASDAQ:SKLN) developed and produces a fully automated, patented, FDA-cleared waste fluid disposal system that claims to eliminate staff exposure to blood, irrigation fluid, and other potentially infectious fluids found in the healthcare environment.
Helomics offers services that leverage our patient-derived tumor models, coupled to a wide range of multi-omics assays (genomics, proteomics and biochemical), and a proprietary bioinformatics platform (D-CHIP) to provide a tailored solution to our client’s specific needs.
Helomics has amassed large quantities of data on patients with cancer as part of its ChemoFx® precision cancer diagnostic. This “big-data” repository contains the drug response profiles of over 149,000 patient tumors and their molecular, genomic, biochemical and histopathology data coupled to de-identified patient demographics.
Dr. Carl Schwartz, Skyline Medical CEO, stated “Skyline Medical is building a more diversified business, and the Helomics collaboration is one more step along our path, helping patients, oncologists and pathologists to do a patient personalized medicine’s approach using AI and big data. We are very excited about this opportunity for Skyline and its shareholders.”
SKLN Stock Performance
SKLN shares have been trading between $1.50 and $2.00 for most of 2017. Year-to-date they are down almost 33% but are up over 26% over the past month. Their 52-week low is $1.20 and their 52-week high is $6.05.
The current uptrend has been reflected in their Relative Strength Index (RSI) score of 80. Most traders believe that a score above 70 indicates a stock is entering an “Overbought” condition.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.