GenMark Diagnostics, Inc (NASDAQ:GNMK)

GenMark Diagnostics, Inc (NASDAQ:GNMK) Tumbles

GenMark Diagnostics, Inc (NASDAQ:GNMK)

GenMark Diagnostics, Inc (NASDAQ:GNMK) shares shed over 40% of their value in Friday’s trading session after the company reported a (-$15.4) million loss, or (-$0.28) per share, for Q3 2017. Those results were in line with analyst expectations but revenues, $11.6 million, were 18% lower than what the street was expecting. GNMK shares ended the day at $4.26 on heavy volume. A stock that normally trades under 400,000 shares per day traded over seven million shares by Friday’s end of trading.

GenMark Diagnostics, Inc (NASDAQ:GNMK)

Shares of GenMark Diagnostics, Inc (NASDAQ:GNMK) experienced similar price action when they released their Q2 earnings results this past summer. The market responded to those losses by selling off the stock to the tune of 15%. At the time, shares were trading around the $10 handle. Since then, shares steadily slid to $8 before they gapped down over 40% on Thursday’s earning’s announcement.

Carlsbad, CA-based GenMark Diagnostics, Inc (NASDAQ:GNMK) is a provider of automated, multiplex molecular diagnostic testing systems that detect and measure DNA and RNA targets to diagnose disease and assist healthcare providers in determining the most efficient patient treatment. GenMark’s proprietary eSensor XT-8® system is designed to support a broad range of molecular diagnostic tests with a workstation and self-contained, disposable test cartridges.

GenMark Stock

A frequent characteristic of biotech shares that dramatically underperform is the continual issuance of new shares which leads to a dilution of shareholder equity. In Genmark’s case that dilution has not been a major concern. In 2014, there were 41.35 million GNM shares outstanding. That number increased to just 44.1 million by the end of 2016. Even sales are trending upwards. For 2012, the company reported $20.5 million in sales. By 2016 that number was a robust $49.3 million.

However, GenMark Diagnostics, Inc (NASDAQ:GNMK) management has been unable to translate increasing sales into shareholder profits. Per share, the company lost (-$0.84) in 2012. That figure was followed by annual per share losses of (-$0.95), (-$0.93), (-$1.00), and, for 2016, (-$1.15). Year-to-date GNMK shares are down over 65% and have lost over 55% in the last month. That share performance is reflected in the stock’s Relative Strength Index (RSI) score of 9.7. Most observers believe that an RSI below 20 is signaling an “Oversold” condition.

Many sector observers believe that the share drop will force the Board of Directors for GenMark Diagnostics, Inc (NASDAQ:GNMK) to investigate a licensing agreement, merger, or sale in an effort to generate shareholder value.

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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

VIVUS, Inc. (NASDAQ:VVUS)

OHR Pharmaceutical Inc (NASDAQ:OHRP) Stock Trying to Rebound

OHR Pharmaceutical Inc (NASDAQ:OHRP)

Shares of OHR Pharmaceutical Inc (NASDAQ:OHRP) closed higher by over 12% today on a volume figure that was over five times the listed average. Despite a lack of news concerning the pharmaceutical company, traders bid the company’s shares higher throughout the day but sellers stepped in with two hours left in the trading day and started to pressure the stock whenever it got over $0.70. OHRP shares ended the day at $0.69.

OHR Pharmaceutical Inc (NASDAQ:OHRP)

OHR Pharmaceutical, Inc. (NasdaqCM:OHRP) develops therapeutics and delivery technologies for the treatment of ocular diseases. Their pre-clinical pipeline is focused on the development of sustained release therapeutics for ocular diseases utilizing their patented microfabrication platform technology. OHR Pharmaceutical Inc (NASDAQ:OHRP) currently has several active programs evaluating molecules and approaches for the treatment of primary open angle glaucoma, steroid-induced glaucoma, ocular allergies, and retinal diseases. The U.S. Food and Drug Administration has awarded OHR’s Squalamine Fast Track Designation for the potential treatment of wet AMD.

OHRP Stock History

OHR Pharmaceutical Inc (NASDAQ:OHRP) shares hit their peak in 2014 when OHRP was trading, albeit briefly, just below $20 per share. However, shares are now struggling to stay above the $1 threshold which not only is psychologically important, but also triggers a NASDAQ compliance rule.

In 2012 the company reported a per share loss of (-$0.10). That loss expanded each year and in 2016 the per share loss was reported at (-$0.82). A lack of earnings is not unusual for a biotechnology firm that typically has a multi-year runway to revenues due to FDA approval requirements. But the company was also diluting shareholder equity during this time. In 2012 the number of outstanding shares stood at 14.24 million. That figure expanded every year and for 2016 the company listed the number of outstanding shares at 31.35 million.

Accordingly, shares have lost nearly 60% of their value year-to-date, and nearly 80% for the year. While shares are well above their 52-week low of $0.56, they are far away from their 52-week high of $3.10, and even further away from analysts’ consensus, one-year price target of $10.

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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Cerus Corporation (NASDAQ:CERS)

Cerus Corporation (NASDAQ:CERS) Beats Street Expectations

Cerus Corporation (NASDAQ:CERS)

Cerus Corporation (NASDAQ:CERS) stock has broken through a resistance trend line and is up a whopping 20.5% after the company reported losses that beat street expectations. reported a loss of $13.4 million in its third quarter. Concord, CA-based Cerus Corporation reported a (-$0.12) per share loss against the (-$0.15) loss analysts were expecting.

Cerus Corporation (NASDAQ:CERS)

Cerus Corporation (NASDAQ:CERS) is a biomedical company that develops products to improve the safety profile of blood transfusions. The INTERCEPT Blood System is designed to reduce the risk of transfusion-transmitted infections. Cerus currently markets and sells the INTERCEPT Blood System globally.

Cerus Q3 Earnings

Operating losses from Q3 2017 were $12.4 million, compared to $14.3 million for the same period in 2016, and $46.7 million compared to $46.3 million for the nine months ended September 30, 2017 and September 30, 2016, respectively.

Net loss for Q3 2017 was $13.4 million, or (-$0.12) per diluted share, compared to a net loss of (-$14.4) million, or (-$0.14) per diluted share, for the third quarter of 2016. Net loss for the first nine months of 2017 was (-$49.1) million, or (-$0.46) per diluted share, compared to a net loss of (-$49.4) million, or (-$0.49) per diluted share, for the same period of 2016.

CERS Stock

Three investment firms follow Cerus Corporation (NASDAQ:CERS). All three assign CERS stock a rating of “Strong Buy”. The analysts’ consensus, one-year target price is $6.33.

In mid-2016, CERS shares were briefly trading over $7.00, but then started a slow, steady slide until they hit their 52-week low of $1.93 in May of 2017. Accordingly, the stock has lost about 33% year-to-date. However shares have gained over 16% during the past quarter. The recent gains have been reflected in the company’s Relative Strength Index score of 73 – a number above 70 is usually taken to signal 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: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Second Sight Medical Products Inc (NASDAQ:EYES),

Good News for Second Sight Medical Products Inc (NASDAQ:EYES)

Second Sight Medical Products Inc (NASDAQ:EYES)

Shares of Second Sight Medical Products Inc (NASDAQ:EYES), headquartered in Sylmar, CA, are up over 10% in late trading on the back of a ten-fold volume increase. The strong move upwards was a result of investor reaction to the consent of the U.S. Food and Drug Administration (FDA) to begin the Orion™ Cortical Visual Prosthesis System (Orion) feasibility clinical study. The approval allows two U.S. sites, the University of California at Los Angeles (UCLA) and Baylor College of Medicine (Baylor) in Houston, to enroll up to five total patients.

Second Sight Medical Products Inc (NASDAQ:EYES),

Second Sight Medical Products Inc (NASDAQ:EYES)’s develops, manufactures, and markets innovative implantable visual prosthetics to enable blind individuals to achieve greater independence. Second Sight’s Orion™ Visual Cortical Prosthesis is being developed to restore some vision to individuals who are blind due to causes other than preventable or treatable conditions.

Will McGuire, President and CEO of Second Sight stated ““We remain on track toward achieving our stated goal of implanting our first Orion patient before year end, and the potential opportunity to provide useful vision to millions of blind individuals worldwide who have no other option today,”

EYES Stock Performance

Despite the science fiction nature of their product that could change the lives of millions of blind people, current financial results have been poor for shareholders. In late 2015, EYES stock was trading above $7, but a lack of profits has seen a downward trend for the shares. In February of 2017, EYES stock briefly rose near $3, but during most of the past year has had the stock below the $2 level.

EYES stock is down 55% for the year, and down 4% for the past month. There is a moderate short position on the company – over 10% of the share’s float is held as a short position.

HC Wainwright covers Second Sight Medical Products Inc (NASDAQ:EYES) and assigns EYES stock a “Strong Buy”.

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.

Don’t miss out! Stay informed on $EYES and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) Continues Move Higher

Dicerna Pharmaceuticals Inc (NASDAQ:DRNA)

Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) shares are up 31%, to $7.36, on news of a research collaboration and license agreement with Boehringer Ingelheim to discover and develop novel GalXC™ RNAi therapeutics for the treatment of chronic liver diseases. Under the terms of the agreement, Dicerna may receive more than $200 million in upfront, development and commercial milestone payments, and research and development reimbursement for a GalXC candidate product addressing an undisclosed NASH target. Dicerna is also eligible to receive royalties staggered up to double-digits on worldwide net sales.

Dicerna Pharmaceuticals Inc (NASDAQ:DRNA)

About Dicerna Pharmaceuticals

Dicerna Pharmaceuticals Inc (NASDAQ:DRNA), based in Cambridge, MA, discovers and develops RNAi-based therapeutics for diseases involving the liver, including rare diseases, chronic liver diseases, cardiovascular diseases, and viral infectious diseases. Dicerna is leveraging its proprietary GalXC™ RNAi technology platform to build a broad pipeline in these core therapeutic areas, focusing on target genes where there are recognized connections between the target gene and diseases.

Dicerna’s GalXC technology platform uses RNAi to inhibit the expression of disease-causing genes by destroying the messenger RNAs (mRNAs) of those genes. This new approach has the potential to treat diseases by silencing previously inaccessible drug targets.

Douglas M. Fambrough, President and Chief Executive Officer of Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) stated, “With strong capabilities in drug discovery, deep expertise in the cardiometabolic space, and proven commercial experience, Boehringer Ingelheim is a natural partner to speed the development of the first GalXC RNAi program targeting chronic liver disease. The collaboration combines the strong capabilities of both companies to pursue the full potential of Dicerna’s GalXC technology to bring valuable and differentiated RNAi therapies to patients with liver diseases and their healthcare teams, and reflects both the promise of the GalXC technology and the strength of its underlying intellectual property.”

DRNA Stock Performance

Five investment firms follow Dicerna Pharmaceuticals Inc (NASDAQ:DRNA). Four rate DRNA shares as a “Strong Buy” and one rates the shares as a “Hold”.

In 2016, DRNA shareholders saw a per share loss of (-$2.87) on total sales of just $300,000. Despite those numbers, shareholders have seen a year-to-date gain of over 95%. Today’s price action (currently at $7.36) eclipses the previous 52-week high of $6.75 and also tops analyst’s consensus one-year price target of $5.75.

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.

Don’t miss out! Stay informed on $DRNA and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Shares Rocket on Ocera Therapeutics Inc (NASDAQ:OCRX) Buyout

Ocera Therapeutics Inc (NASDAQ:OCRX)

Ocera Therapeutics Inc (NASDAQ:OCRX) shares rocketed over 65% higher today after the company announced it is being acquired by UK-based Mallinckrodt plc for $1.52 per share. The news sent investors scrambling to buy shares in the new company and share volume is on pace to register a figure over 120 times the normal daily average.

Ocera Therapeutics Inc (NASDAQ:OCRX)

Why Ocera Therapeutics is Attractive

Ocera Therapeutics Inc (NASDAQ:OCRX) is a clinical stage biopharmaceutical company that developing OCR-002 (ornithine phenylacetate) in both intravenous (IV) and oral formulations. OCR-002 is an ammonia scavenger and has been granted Orphan Drug designation (ODD) and Fast Track status by the U.S. Food and Drug Administration (FDA) for the treatment of hyperammonemia and resultant hepatic encephalopathy (HE) in patients with acute liver failure and acute-on-chronic liver disease.

Although the STOP-HE study7 did not meet its primary endpoint, it achieved secondary endpoints that validated OCR-002 as a potent ammonia scavenger. In a subsequent analysis of the data, it was observed that the degree of ammonia reduction in patients correlated strongly with clinical improvement. As the response rate also appeared to increase proportionally to dose level, this suggests that some patients in the Phase 2 trial may have been under-dosed. The IV formulation of OCR-002, if approved, is expected to provide rapid reduction in symptoms of acute HE, and potentially reduce hospitalization stay. A subset of patients continues to have HE symptoms after discharge. OCR-002’s oral formulation, if approved, is expected to provide post-discharge continuity of care for the HE patient, reducing the risk of recurrent HE episodes and rehospitalization.

The Purchaser

Mallinckrodt plc, headquartered in Staines-upon-Thames, England is a global business that develops, manufactures, markets and distributes specialty pharmaceutical products and therapies. Areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, nephrology, pulmonology and ophthalmology; immunotherapy and neonatal respiratory critical care therapies; and analgesics and hemostasis products. Mallinckrodt’s core strengths include the acquisition and management of highly regulated raw materials and specialized chemistry, formulation and manufacturing capabilities.

A subsidiary of Mallinckrodt plc will commence a cash tender offer to purchase all of Ocera Therapeutics Inc (NASDAQ:OCRX) outstanding shares for $1.52 per share (approximately $42 million), plus one Contingent Value Right to receive one or more payments in cash of up to $2.58 per share (up to approximately $75 million) based on the successful completion of certain development and sales milestones. Mallinckrodt plc expects dilution from the acquisition to adjusted diluted earnings per share by $0.25 to $0.35 annually beginning in 2018.

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.

Don’t miss out! Stay informed on $OCRX and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) Rattles Shareholders

Eleven Biotherapeutics Inc. (NASDAQ:EBIO)

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) fell 22.11% after announcing the pricing of an underwritten public offering of 5.5 million shares of common stock. The late-stage clinical oncology company is also offering pre-funded warrants for the purchase of an aggregate 4.5 million shares of common stock as well as common warrants for the purchase of up to 10 million shares.

Eleven Biotherapeutics Inc. (NASDAQ:EBIO)

Public Offering

The company is offering each share of common stock or pre-funded warrant at a combined effective price of $0.80 a share. Eleven Biotherapeutics Inc. (NASDAQ:EBIO) has also granted underwriters a 30-day option to purchase an addition 1.5 million shares of common stock at a price of $0.79 a share

H.C Wainwright & Co., LLC is acting as the book-running manager for the offering. The offering should close on or about November 3, 2017, subject to customary closing conditions

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) expects gross proceeds of approximately $8 million prior to the deduction of underwriting discounts and commissions among other offering expenses. The company plans to use the net proceeds to finance clinical development of its lead product candidate Vicinium.

The late-stage clinical oncology company has already completed manufacturing of all the Vicinium necessary for its Phase 3 registration trial. The trial seeks to evaluate the candidate drug’s ability to treat non-muscle invasive bladder cancer

Eleven Biotherapeutics Inc. (NASDAQ:EBIO) continues to trade lower for the better part of the year. Investors’ confidence in the stock has taken a hit amidst stock dilution concerns and the fact that the company could be sinking further into debt. The stock has shed more than 60% in market value since the start of the year.

CFO Appointment

Separately, Eleven Biotherapeutics Inc. (NASDAQ:EBIO) has confirmed the appointment of Richard F. Fitzgerald as the Interim Chief Financial Officer. He replaces John McCabe who stepped down from the post. Fitzgerald joins the company with over two decades of financial and strategic leadership.

“We are pleased to welcome Richard to the management team at eleven. He brings significant experience in capital raising and strategic leadership to the company, as we look forward to top-line three-month data from our Phase 3 trial of our lead drug candidate Vicinium in mid-2018,” said Stephen Hurly, Chief Executive Officer of Eleven Biotherapeutics Inc. (NASDAQ:EBIO).

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.

Don’t miss out! Stay informed on $EBIO and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Skyline Medical Inc (NASDAQ:SKLN) Stock Rises on Collaboration Announcement

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)

The Collaboration

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.

Don’t miss out! Stay informed on $SKLN and receive breaking news on other hot stocks by signing up for our free newsletter!

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.

OHR Pharmaceutical Inc (NASDAQ:OHRP)

VIVUS, Inc. (NASDAQ:VVUS) New Lows

VIVUS, Inc. (NASDAQ:VVUS)

Campbell, CA-based VIVUS, Inc. (NASDAQ:VVUS) has established new lows for three days in a row on the back of higher than average volume. In August, the street expected VIVUS, Inc. (NASDAQ:VVUS) to report a Q2 2017 loss of (-$0.13) and that was exactly what occurred. But revenues tumbled almost 19%, to $11.2 million.

VIVUS, Inc. (NASDAQ:VVUS)

In mid-August, VVUS stock broke below the psychologically important $1 per share level and touched $0.86 on September 6. Shares then proceeded to trade higher near the $1 level before tumbling for 13 of the next 15 trading days. Today the shares touched an all-time low of $0.61.

VIVUS Business

VIVUS, Inc. (NASDAQ:VVUS) is a biopharmaceutical company. It develops and commercializes therapies to address unmet medical needs in the United States and the European Union. The company offers Qsymia for the treatment of obesity and STENDRA, an oral phosphodiesterase type 5 inhibitor for the treatment of erectile dysfunction. Qsymia has completed Phase II studies for the treatment of obstructive sleep apnea and diabetes, as well as for other obesity-related diseases.

VVUS Stock Performance

Unlike many biotechnology companies, VIVUS, Inc. (NASDAQ:VVUS) has not diluted shareholder equity through additional public share offerings. However its revenues have been inconsistent. In 2013, the company reported sales of $114.2 million followed by annual sales of $95.4 million, and $124.3 million for 2016.

Earnings have been more of a bright spot for the company. From 2012 until 2015, VIVUS, Inc. (NASDAQ:VVUS) reported losses, but for 2016 the company reported a per share profit of $0.22.

VVUS stock has a consensus one-year target price of $2.15. For the year, and prior to today’s price action, the stock has lost almost 35%.

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.

Don’t miss out! Stay informed on $VVUS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Vermillion, Inc. (NASDAQ:VRML) Stock Jumps!

Vermillion, Inc. (NASDAQ:VRML)

Vermillion, Inc. (NASDAQ:VRML) stock is up over 33% in early afternoon trading after the company’s subsidiary announced that it expanded positive policy coverage with the addition of 14 key managed care providers. VRML stock opened at $1.51, also today’s low, and shot up to hit an inter-day high of $1.97. VRML shares are trading around $1.88 at the time of this writing (12:38 PM EST).

Vermillion, Inc. (NASDAQ:VRML)

Austin, TX-based Vermillion, Inc. (NASDAQ:VRML) discovers, develops, and commercializes diagnostic and bio-analytical solutions that aid physicians to diagnose, treat, and improve gynecologic health. Vermillion, along with its scientific collaborators, discovers, develops, and delivers innovative diagnostic and technology tools that help women with serious diseases. One of the company’s subsidiaries is ASPiRA Labs – the exclusive distributor of OVA1 (Multivariate Index Assay) (MIA).

Vermillion Subsidiary Coverage Details

ASPiRA Labs established positive coverage policies specify that OVA1 is medically necessary for the below plans:

  • BlueCross BlueShield (BCBS) plans associated with a national plan, Health Care Service Corporation (HCSC) that include Illinois, Montana, New Mexico, Oklahoma and Texas (approximately 14.8 million covered lives)
  • Horizon BCBS plans in New Jersey (approximately 3.7 million covered lives)
  • Highmark BCBS plans that include Pennsylvania, West Virginia and Delaware (approximately 3.2 million covered lives)
  • Wellcare: Government sponsored managed care across the U.S. (approximately 2.9 million covered lives)

Fred Ferrara, Chief Operating Officer of Vermillion, Inc. (NASDAQ:VRML) stated “Two policies totaling approximately 3.8 million covered lives are effective as of October 1, 2017, with the remainder being effective January 2018. This positive policy coverage is the first step to in-network contracts and market adoption. We are finishing this year strong with managed care rapidly increasing support of OVA1 to over 123 million lives, as of January 2018.  OVA1 provides the only pelvic mass risk assessment product proven to get patients to the highest standard of care for ovarian cancer treatment.”

VRML Stock Performance

VRML stock is currently trading above the analysts’ consensus price target of $1.75. Its 52-week low is $0.76 and its 52-week high is $2.85.

Earnings losses have been contracting over the past three years. In 2014 the per share loss was (-$0.53), followed in 2015 by a loss of (-$0.41), and a narrower loss for 2016 of (-$0.29).

Dilution remains a concern though. In 2012 there were 15.1 million shares outstanding. That number has increased every year and for 2016 the company reported 52.2 million shares were outstaning.

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.

Don’t miss out! Stay informed on $VRML and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.