Shareholders of Root9B Holdings Inc. (NASDAQ:RTNB) in Limbo

Root9B Holdings Inc. (NASDAQ:RTNB)

Shares of Root9B Holdings Inc. (NASDAQ:RTNB) gained 44.2% after the company announced foreclosure auction results. Pursuant to a Security Agreement entered with secured creditors, auction of the company’s assets resulted in $12.5 million – representing the total outstanding principal and unpaid interest owed to secured creditors.

Root9B Holdings Inc. (NASDAQ:RTNB)

T-12 Halt Code

Root9B Holdings Inc. (NASDAQ:RTNB) no longer has any operating assets following the sell-off – the company no longer has the ability to generate revenues.

The company’s Chief Executive Officer, Eric Hipkins, has since resigned from his position with immediate effect. The NASDAQ capital market has also halted raring of the stock under the T-12 halt code. Trading of the stock will remain halted until the company satisfies regulators request.

The halting of the stock follows the rise of the stock to the $2.01 mark. However, the stock continues to trade in a strong downtrend after losing more than 70% in market value since the start of the year.

Root9B Acquisition

Root9B Holdings Inc. (NASDAQ:RTNB) has confirmed that it has agreed to be acquired by an affiliate of Tracker Capital Management.

“Root9B is delighted to announce our new ownership, which provides us the capital required to eliminate debt from our balance sheet and fund our strategic growth initiatives. Our team remains committed to bringing experience, excellent service, and next-generation cyber solutions to our clients,” said Eric Hipkins, Root9B Holdings Inc. (NASDAQ:RTNB) Chief Executive Officer.

Information on the acquisition is still sketchy. However, reports indicate that Root9B will operate as an independent and private company with no affiliation to Root9B Holdings Inc. (NASDAQ:RTNB) which happens to be the parent company.

Root9B Holdings Inc. (NASDAQ:RTNB) would face an uncertain future in the stock market should the NASDAQ allow it to continue operating as a public company. The fact that the company does not have revenue generating avenues following the sale of key assets is another point of concern that could affect investors’ confidence on the stock.

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 $RTNB and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Alliance MMA Inc. (NASDAQ:AMMA) Acquires Victory Fighting Championship

Alliance MMA Inc. (NASDAQ:AMMA)

Shares of Alliance MMA Inc. (NASDAQ:AMMA) gained 87.5% after the mixed martial arts company announced the acquisition of Victory Fighting Championship. The acquisition follows a strong second quarter in which the company reported a 48% increase in revenues.

Alliance MMA Inc. (NASDAQ:AMMA) is currently trading in an uptrend after reaching a key support level at $1.80. However, it is still down by more than 30% for the year after dropping from the $4 a share mark.

Alliance MMA Inc. (NASDAQ:AMMA)

Acquisition

The VFC acquisition is an aggressive move as the company has produced more than 60 live MMA events since 2002. A global distribution network has broadcasted its events in over 155 countries. The acquisition should thus allow Alliance MMA Inc. (NASDAQ:AMMA) to achieve multiple strategic goals.

“VFC’s organizational footprint, in terms of scale and distribution on UFC FIGHT PASS, provides an incredible opportunity for Alliance MMA to produce content – including live content – that fans want to see,” said CEO, Paul Danner.

Alliance MMA Inc. (NASDAQ:AMMA) should be able to expand its footprint and operations into more geographies with the acquisition. According to Mr. Danner, plans are underway to launch in several new cities by leveraging VFC’s unique brand of entertainment. The company already operates in 13 of the top 30 Nielsen Designated Market Areas.

The mixed martial arts company is on course to host eight events this month as it closes in on its goal of hosting at least 125 MMA events per year. This month’s lineup features numerous title bouts in top markets including cities in Midwest, Northeast South, and West.

Push For Positive Cash Flow

Alliance MMA Inc. (NASDAQ:AMMA) should be able to build on its second quarter earnings momentum given the roster of events in the pipeline. The company is on track to achieve a positive cash flow thanks to a 48% increase in Q2 revenues.

Solid execution of the electronic platform CagTix.com and a strong performance by the fighter management firm, SuckerPunch Entertainment, led to a 14% increase in operating margin. During the quarter, the company raised approximately $1.5 million. Alliance MMA Inc. (NASDAQ:AMMA) plans to use the amount to finance acquisitions, needed to further grow the brand.

“Our strong second quarter operating results reflect impressive gains in each of the most important key performance indicators for an enterprise at our stage of development,” said Mr. Danner.

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 $AMMA and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

Axovant Sciences Ltd (NASDAQ:AXON) Alzheimer’s Treatment Flops

Axovant Sciences Ltd (NASDAQ:AXON)

Pharmaceutical firm Axovant Sciences Ltd (NASDAQ:AXON) has disclosed that development for a trial Alzheimer’s drug would be halted after it failed to meet its endpoints. Consequently shares of the company fell by 74.7% to settle at $6.13 on Tuesday – a record low.

According to the New York-based firm, there was no difference between a placebo and the drug (known as intepirdine) in the trial involving 1,150 participants. The trial measured the ability of trial participants to carry out regular daily activities such as bathing and dressing. The drug did not affect brain power significantly.

Axovant Sciences Ltd (NASDAQ:AXON)

5-HT6 antagonists

Intepirdine was meant to be taken daily. It is in the class of treatments known as 5-HT6 antagonists. These drugs work by assisting in the release of acetylcholine by blocking 5-HT6 receptors. Acetylcholine is a neurotransmitter which is required in order to perform normal cognitive activities. The failure has raised doubts over whether the mechanism has potential in the development of Alzheimer’s treatments.

“Following a slew of failures with other 5-HT6 receptor antagonists, Axovant Sciences Ltd (NASDAQ:AXON)’s intepirdine put the nail in the coffin for the mechanism in Alzheimer’s disease,” Brian Skorney an analyst at Baird wrote in a research note.

Alzheimer’s is the most common type of dementia. In the United States it affects approximately 5.5 million people. Earlier in the year Lundbeck, a pharmaceutical firm based in Denmark, revealed that the late-phase trials of a similar drug using the same mechanism had failed to meet the endpoints as well. Other pharmaceutical companies that have failed to develop an Alzheimer’s drug include Merck and Eli Lilly.

Consistent failure

Over the years drug companies have invested billions of dollars trying to find a treatment for Alzheimer’s since the potential global market for a cure is 44 million-strong. So far only four Alzheimer’s drugs have received U.S. Food and Drug Administration (FDA) approval. The last time the FDA greenlit a new Alzheimer’s drug was 14 years ago. According to some analysts and doctors, pharmaceutical firms are conducting trials without having a full understanding of the science behind the disease.

Axovant Sciences Ltd (NASDAQ:AXON) did not develop intepirdine from the ground up and had actually bought the rights from GlaxoSmithKline three years ago at a price of $5 million. The pharmaceutical startup went public a year later in 2015 achieving a valuation of close to $3 billion. At the time questions were raised over the lofty valuation given that it was based on a drug which in the hands of the previous owner, GSK, had flopped consistently in trials.

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 $AXON 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.

Genocea Biosciences Inc. (NASDAQ:GNCA) Slumps 76%

Genocea Biosciences Inc. (NASDAQ:GNCA)

Genocea Biosciences Inc. (NASDAQ:GNCA) shares slumped 76.5% after the biopharmaceutical company said it was shifting its drug development focus. The Cambridge, MA-based company is shifting its focus to immuno-oncology to focus on the development of neoantigen cancer vaccines. Pursuant to the corporate restructuring, the company has also announced plans to trim its workforce by 40%

GNCA Stock Implosion

News of the proposed changes did not go well. GNCA stock plummeted to multi-year lows. GNCA stock is currently trading at the lower end of a $1.23 – $1.99 trading range.

Genocea Biosciences Inc. (NASDAQ:GNCA)

Genocea Biosciences Inc. (NASDAQ:GNCA) management team is putting a brave face after feeling the wrath of Wall Street. According to the Chief Executive Officer, Chip Clark, the company remains well positioned to come up with neoantigen cancer vaccines which should spearhead the next phase of growth and generate shareholder value.

The change of focus means the company will no longer develop its genital herpes treatment GEN-003 which was in late-stage clinical trials. However, the company plans to initiate a Phase 1 clinical trial of GEN-009, in the first half of next year, for the treatment of a range of tumor types.

“With our research and development efforts now focused entirely on neoantigen cancer vaccines, we believe the power of ATLAS to identify the right vaccine antigens, combined with our vaccinology expertise, gives us the opportunity to create value for our shareholders,” said Mr. Clark.

Genocea Workforce Reduction

The proposed 40% workforce reduction should be complete by the end of the third quarter leaving the company with about 55 employees. The reduction is part of a cost-saving strategy in which Genocea Biosciences Inc. (NASDAQ:GNCA) expects an annualized savings of up to $65 million on personnel-related costs. The company is also estimating one-time severance and related costs of about $1.1 million.

The proposed restructuring comes after the biopharmaceutical company posted second-quarter earnings that fell short of Wall Street expectations. For the three months ended June 30, 2017, Genocea Biosciences Inc. (NASDAQ:GNCA) posted a net loss of (-$15.4) million or (-$0.54) cents a share. Analysts were expecting a net loss of (-$0.46) cents a share.

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 $GNCA 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.

Aradigm Corporation (NASDAQ:ARDM): Linhaliq gets FDA Priority Review

Aradigm Corporation (NASDAQ:ARDM)

Aradigm Corporation (NASDAQ:ARDM) skyrocketed more than 32.8% yesterday following news that the U.S. Food and Drug Administration (FDA) agreed to accelerate the approval review of its lead drug candidate.

The stock rose 32.81% in regular trading hours to $3.36 and jumped an additional 2.38% in trading after-hours to end at $3.44. The day was characterized by modest volume of shares changing hands. The gains left Aradigm up 110% for the year and cut its losses over the last 12 months to 48.3%. In the last 12 months, Aradigm has declined to a low of $0.78 and risen to a high of $7.19.

Aradigm Corporation (NASDAQ:ARDM) is engaged in the development and commercialization of treatment and prevention therapies of severe respiratory diseases.

Linhaliq gets accelerated review

On September 25, Aradigm Corporation (NASDAQ:ARDM) released an announcement stating that the FDA accepted to grant priority review to new drug application (NDA) for Linhaliq. Priority Review status implies a faster a FDA review of a drug application compared to regular review process. As such, Priority Review should shorten the time of bringing a new drug to market if the application is approved.

In light of the Priority Review, Aradigm Corporation (NASDAQ:ARDM) is expecting to hear from the FDA regarding the outcome of Linhaliq review by January 26, 2018.

Aradigm developed Linhaliq as a treatment for NCFBE (non-cystic fibrosis bronchiectasis) in patients with chronic infections with Pseudomonas aeruginosa (P. aeruginosa). The company said it will continue working with the FDA during the review period to support approval of Linhaliq so that the drug can provide much-needed treatment for the targeted patients.

Unmet medical need

NCFBE is a severe, chronic, and rare disease frequently associated with chronic lung infections. More than 150,000 people in the U.S. are victims of NCFBE, while more than 200,000 people in Europe suffer from the disease. NCFBE represents an unmet medical need, and there is currently no drug approved for treatment of NCFBE patients with chronic infections with P. aeruginosa. This category of NCFBE patients has three times higher mortality and a worse quality of life compared to the group of NCFBE patients without P. aeruginosa infections.

Aradigm Corporation (NASDAQ:ARDM)’s Linhaliq has obtained several favorable regulatory labels, implying that it could come to market with a strong profile. For example, the FDA granted Linhaliq Orphan Drug Designation for the management of bronchiectasis. The candidate also carries Fast Track Designation and Qualified Infectious Disease Product (QIDP) Designation for the treatment of NCFBE patients who also have chronic lung infections with P. aeruginosa.

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 $ARDM 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.

Why Versartis Inc.(NASDAQ:VSAR) Collapsed

Versartis Inc. (NASDAQ:VSAR)

Versartis Inc.(NASDAQ:VSAR) shed more than 87% of its market value after announcing that its novel treatment for growth hormone deficiency (GHD), did not meet primary endpoints in a Phase 3 trial.

Stock Performance

Versartis Inc. (NASDAQ:VSAR) is currently trading at multi-year lows after breaking a key support. Investor’s sentiments have turned sour following the disappointing clinical trial results seen by the stock registering a new 52-week low of $2.60 a share.

Versartis Inc.(NASDAQ:VSAR)
One month VSAR stock price chart

Investors had high hopes that Somavaratan would do better in the trials than existing treatment, Genotropin. However, the trial results indicate that the drug registered statistically significant inferiority thus the reason why Wall Street pushed the stock lower on huge volumes.

“We are very surprised and disappointed to learn the outcome of the VELOCITY trial. Somavaratan showed height velocity in the range we had hoped, but it was not sufficient to demonstrate non-inferiority in this trial,” stated Jay Shepard, President, and CEO of Versartis Inc. (NASDAQ:VSAR).

The disappointing results all but complicates the regulatory pathway for the novel treatment. However, the candidate drug was well tolerated with a much lower discontinuation rate than Genotropin. The trial did not register any safety concerns.

News of Versartis Inc. (NASDAQ:VSAR) disappointing trial results sent Ascendis Pharma A/S (NASDAQ:ASND) shares up by more than 20% as it is also developing a human growth hormone therapy for children. The pharmaceutical company is currently enrolling patients in a late-stage trial, ahead of two planned trials. Results from the proposed trials should be out in the second half of next year.

Versartis fate on Wall Street, following the disappointing growth hormone trial, hangs in the balance. Investors may have to wait a little bit longer as the company says it will issue a guidance later in the year in the wake of disappointing Somavaratan trial results.

Q2 Earnings

Versartis Inc. (NASDAQ:VSAR) has been under immense pressure in recent weeks especially after posting a wider than expected second-quarter net loss of (-$36.6) million compared to (-$22.1) million in Q2 2016. Operating expenses for the quarter, ended June 30, 2017, surged to $36.2 million from $22.3 million the prior year as research and development expenses nearly doubled to $28.6 million from $16.4 million posted last year.

Versartis exited Q2 with cash and cash equivalent of $143.4 million.

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 $VSAR 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.

Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) Explodes On FDA Validation

Akari Therapeutics PLC (ADR) (NASDAQ:AKTX)

Shares of Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) jumped 56.4% after the biopharmaceutical company said it will advance its lead investigational drug Coversin on advice from the U.S. Food and Drug and Administration (FDA). The company plans to commence Phase 3 studies of the novel treatment for Paroxysmal Nocturnal Hemoglobinuria in the first quarter of 2018.

AKTX Stock Performance

Positive feedback from the FDA is one of the reasons the stock spiked higher as it shows the agency remains confident about the drug’s prospects. Thursday’s rally saw the stock close above a key support level, providing support to a bullish momentum that began last month.

Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) has traded in a downtrend since reaching highs of $22 a share in April. However, AKTX shares appear to be picking up after plunging to multi-year lows of $3 a share.

Akari Therapeutics PLC (ADR) (NASDAQ:AKTX)
One month AKTX stock price chart

Coversin Prospects

Coversin has already attained Fast Track status in the U.S. – a designation that allows it to enjoy expedited regulatory review. PNH, for which the candidate drug is indicated, is a rare, life-threatening disease of the blood characterized by the destruction of red blood cells and blood clots. The condition affects 1 to 1.5 persons per million people – mostly young adults.

Phase 3 studies of Coversin will target naïve PNH patients that have not used eculizumab as a standard care. Primary endpoints will be based on hemoglobin and transfusion data

“Akari continues to build momentum in its complement focused therapy by advancing Coversin towards Phase III in PNH and Phase II in has. With Coversin delivered subcutaneously, patients may have greater independence due to self-administration,” said Dr. David Horn Solomon, Chief Executive Officer of Akari Therapeutics PLC (ADR) (NASDAQ:AKTX).

Class Action Lawsuit

Separately, Akari Therapeutics PLC (ADR) (NASDAQ:AKTX) is still the subject a class action lawsuit over claims it provided misleading statements between March 30, 2017 and May 11, 2017. According to law firm Khang & Khang LLP, former Chief Executive Officer, Dr. Gur Roshwalb, and other executives published incorrect information about the Phase 2 trial of Coversin. The law firm alleges that the company’s action resulted in the stock price losing a significant amount of value which harmed investors.

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 $AKTX 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.

Arbutus Biopharma Corp (NASDAQ:ABUS) Rallies On Clinical Results

Arbutus Biopharma Corp (NASDAQ:ABUS)

Shares of Arbutus Biopharma Corp (NASDAQ:ABUS) rallied 20.7% after the biopharmaceutical company announced that its treatment for ATTR amyloidosis and polyneuropathy, Patisiran, met its primary and secondary endpoints in a Phase 3 study. In addition to meeting endpoints, the study also validated the company’s LNP delivery technology.

Stock Performance

Wednesday’s rally did not come as a surprise as Arbutus Biopharma Corp (NASDAQ:ABUS) has been on a fine run since the start of the year. The stock is already up by more than 40% as it continues to outperform the overall industry.

The stock is currently trading at the upper end of a tight trading range as it closes on its 52-week high of $7.85 a share.

Arbutus Biopharma Corp (NASDAQ:ABUS)
One month ABUS stock price chart

Patisiran is Arbutus candidate drug under development as part of a licensing deal with Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). Buoyed by the top line Phase 3 trial results, plans have been made to file a New Drug Application (NDA) for the drug before the end of the year. The company also intends to file a Marketing Authorization Application early next year.

“We are very pleased with the successful outcome of Alnylam’s APOLLO Phase 3 study of patisiran. This is an important achievement for patients and for the field of RNAi therapeutics. […] Our LNP technology represents the most proven delivery technology for the systemic delivery of nucleic acid-based therapeutics,” said CEO Mark Murray.

Arbutus Pipeline

Arbutus Biopharma Corp (NASDAQ:ABUS) is entitled to single-digit royalties on the sales of Patisiran upon regulatory approval. In addition to Patisiran, the biopharmaceutical company is also developing a number of treatments for patients suffering from chronic HBV infection. The company is currently developing products that will be combined with approved agents.

Arbutus Biopharma Corp (NASDAQ:ABUS) research has also added a number of new agents that are poised to generate great value as evidenced by AB-506, next-generation capsid inhibitor and AB-452 an HBV RNA destabilizer. Developing a robust pipeline of candidate drugs is part of the company’s push, geared towards becoming a key player in the treatment of hepatitis B.

According to Hepatitis B Foundation, there are more than 257 million people worldwide infected with the Hepatitis B virus. The U.S alone presents a $3.5 billion market opportunity as there are more than 2 million infected with the virus.

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 $ABUS 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.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) Plunges 41%

Synchronoss Technologies, Inc. (NASDAQ:SNCR)

Synchronoss Technologies, Inc. (NASDAQ:SNCR) shares slumped 41% after Siris Capital Group said it was no longer interested in acquiring the company. The announcement fuelled a sell-off of the stock as investors questioned the company’s long-term prospects after failing to report quarterly earnings since the start of the year.

Synchronoss Technologies, Inc. (NASDAQ:SNCR)
One month SNCR stock price chart

Synchronoss Stock Performance

Tuesday’s sell-off pushed the stock near its all-time lows even as Synchronoss Technologies, Inc. (NASDAQ:SNCR) reiterated it was exploring a number of strategic options. The stock is already down by more than 60% for the year as it continued to trade in a strong downtrend close to its 52-week low of $9.76 a share.

A move by Siri to withdraw from the negotiations raised questions about Synchronoss Technologies, Inc. (NASDAQ:SNCR), given that it is the largest shareholder with a 13% stake. In a bid to prevent a further slump of the stock, the company says it is in active discussions with other parties as it continues to explore a wide range of strategic options

“The Synchronoss Board is committed to enhancing value for all shareholders and continues to explore a full range of strategic, operational and financial alternatives, which may include a sale of the Company or other transactions,” The company in a statement.

The statement did little to lift investor’s sentiments on the stock as the company continues to face a number of uncertainties. In addition to failing to post quarterly financial results, mass exodus of high-ranking executives is another headwind that continues to elicit investor concerns.

Early this year, the leader of mobile cloud innovation for mobile carriers, enterprises, and retailers announced that its CEO and CFO were stepping down after just a few months into the job.

Late last year Synchronoss Technologies, Inc. (NASDAQ:SNCR) announced the acquisition of IntraLinks holdings for $821 million. The company, later on, announced plans to divest a portion of the business to Sequential Technology International in a deal believed to have fetched as much as $146 million. It is still unclear how the remaining business has performed as the company is yet to issue a corporate and financial update.

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 $SNCR 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.

ITUS Corp (NASDAQ:ITUS) Explodes On Cancer Detection Patent

ITUS Corp (NASDAQ:ITUS)

Shares of ITUS Corp (NASDAQ:ITUS) surged 85.15% after the United States Patent and Trademark Office (USPTO) granted the company a patent for an early cancer detection technology. The company’s wholly-owned subsidiary Anixa Diagnostics Corporation is currently developing the technology.

ITUS Corp (NASDAQ:ITUS)
One month ITUS stock price chart

Investor Reaction

Investor reaction does not come as a surprise given what is at stake. Cancer detection and treatment is a multi-billion industry and presents ITUS Corp (NASDAQ:ITUS) a unique opportunity for growth.

The 85.15% rally helped push the stock above the $1.00 per share mark. The stock is still down by more than 60% for the year as it continues to trade in a strong downtrend. A close above the $1.30 mark could see the stock making a run for the $2.00 a share mark which serves a key resistance level. It now awaits to be seen if the new patent will continue to strengthen investor’s sentiments on the stock.

“This is the first patent to issue of several patents that we expect to issue garnering protection of our cancer detection technology. The claims of this patent were allowed in May of 2017, and now we have received the official issuance notification and patent number,” said CEO, Amit Kumar.

Cancer Detection technology

The proposed cancer detection technology utilizes flow cytometer to measure the presence and characteristics of certain circulating immune cells. ITUS Corp (NASDAQ:ITUS) is currently relying on artificial intelligence to analyze data from the immune cells, in a manner that enhances the detection of tumor in patients

The technology has successfully identified 15 types of cancer including breast, prostate, colon, and lung. The technology’s success in detecting various types of cancer is attributed to its ability to measure subtle changes in immune cells.

Itus Corporation has also started to perform additional tests in a bid to evaluate the technology’s ability to detect benign conditions that may exist in patients. The company has since renewed its collaboration with the Wistar Institute for the development of the cancer detection technology. The two have worked together over the last two years.

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 $ITUS and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.