Netlist, Inc. (NASDAQ:NLST) Tanks

Netlist, Inc. (NASDAQ:NLST)

Netlist, Inc. (NASDAQ:NLST) stock is down almost 30%, to $0.60, at the opening of the market on a volume figure that indicates trading at over 127 times the daily average. Traders are reacting to the company’s pricing of its public offering of 8.5 million shares of its common stock at a price of $0.60 per share. Netlist has also granted the underwriters a 30-day option to purchase an additional 1.275 million shares of its common stock at $0.60 per share if the need arises to cover any over-allotments. The offering is expected to close on or about August 22, 2017.

Netlist, Inc. (NASDAQ:NLST)
One month stock price chart for NLST

The total gross proceeds are expected to be approximately $5.1 million. After deducting expenses, the net proceeds are expected to be approximately $4.5 million (assuming no exercise of the underwriters’ over-allotment option). The net proceeds will be used by Netlist, Inc. (NASDAQ:NLST) for general corporate purposes, including working capital and other general and administrative purposes.

The current slide in the price of NLST began on August 10, after Netlist, Inc. (NASDAQ:NLST) released Q2 2017 financials. The company’s net loss for the second quarter ended July 1, 2017, was (-$3.8) million, or (-$0.06) loss per share, compared to a net loss for the same period in the prior year of (-$1.5) million, or (-$0.03) loss per share. The slide has continued through the announcement of the dilutive public offering as NLST shares have hit new 52-week lows, eclipsing the old low of $0.83.

Irvine, CA-based Netlist, Inc. (NASDAQ:NLST) is a global provider of high-performance modular memory subsystems to original equipment manufacturers. Netlist specializes in hybrid memory – the merging of DRAM and NAND flash raw materials to create memory solutions. The Company’s patented memory technologies claims to supply superior performance, and high density in a cost-efficient solution.

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 $NLST 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.

Delcath Systems, Inc. (NASDAQ:DCTH) Rallies

Delcath Systems, Inc. (NASDAQ:DCTH)

Delcath Systems, Inc. (NASDAQ:DCTH) continues to edge higher as it builds on a momentum that began early in the month. The stock was up by 36.76% in Wednesday’s trading session as investors reacted to a stellar second quarter, where reported revenues were up 20% year-over-year.  The company has also announced plans to carry out a reverse stock split as it looks to raise funds through the issuance of stock to finance operations.

Delcath Systems, Inc. (NASDAQ:DCTH)
One month stock price chart for DCTH

Stock Performance

Momentum continues to build up around Delcath Systems, Inc. (NASDAQ:DCTH) awaiting to see if the stock will rally. Shares traded have almost doubled to highs of 122 million. However, the stock has underperformed the overall industry and is down from highs of $3 a share.

Reports that Medizinische Hochshule Hannover is using Delcath Systems, Inc. (NASDAQ:DCTH) chemosaturation for the treatment of liver cancer appears to be fuelling renewed investor interest in the stock. The German medical facility has reportedly used innovative minimally invasive treatment in 100 patients.

The life-saving cancer treatment is currently approved in Europe as Delcath Systems, Inc. (NASDAQ:DCTH) continues to work on multiple clinical trials in pursuit of approval in the U.S. Approval in the U.S would be a milestone achievement, which could push the stock even higher in the charts.

Europe Sales Push

A 20% increase in second quarter revenue to highs of $0.6 million underscored growing demand for the company’s products in key markets. Delcath Systems, Inc. (NASDAQ:DCTH) attributes the increase to the establishment of ZE diagnostic reimbursement for Chemosat in Germany. The company plans to leverage the Positive reimbursement support in pursuit of market access in other countries such as the U.K and the Netherlands.

“During the first half of 2017 we continued to advance our clinical development programs in ocular melanoma liver metastases (OM) and intrahepatic cholangiocarcinoma (ICC), while making steady progress with the ongoing commercialization of CHEMOSAT in Europe,” said Jennifer K. Simpson, Delcath Systems, Inc. (NASDAQ:DCTH) CEO.

Separately, Delcath Systems, Inc. (NASDAQ:DCTH) has confirmed plans to carry out a reverse stock split having reached the maximum amount of authorized shares of common stock. The company plans to use the split to access $11.8 million of cash currently in restricted accounts associated with convertible notes issued last year.   The split should also allow the company to regain compliance with the NASDAQ capital markets listing requirements.

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 $DCTH 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.

OXIS International, Inc. (OTCMKTS:OXIS) Stock Explodes On Merger Talk And Pipeline Of Drugs

OXIS International, Inc. (OTCMKTS:OXIS)

OXIS International, Inc. (OTCMKTS:OXIS) stock was up by 60.98% in Monday’s trading session as investors await an upcoming conference where the company plans to discuss its oncology and central nervous system drugs. More than 300 companies will attend the conference scheduled for September 10 to September 12 at the Lotte New York Palace Hotel.

OXIS Stock Price Chart:

OXIS Stock
One month price chart for OXIS stock

Shares of OXIS International, Inc. (OTCMKTS:OXIS) are up by more than 100% since the end of July and currently trading at the higher end of $06 – $0.09 trading range. The stock’s impressive run, which began last month, faces a major test at the $0.10 a share mark, which is acting as a key resistance level. Above the $0.10 mark, the stock could rally to highs of $0.20 a share.

OXIS International, Inc. (OTCMKTS:OXIS) is an immuno-oncology company focused on the treatment of cancer and other unmet medical needs. Its candidate drug is 0XS-1550 designed to target cancer cells expressing the CD19 receptor or CD22 receptor.

Fuelling the bullish momentum on OXIS International, Inc. (OTCMKTS:OXIS) stock is the pending merger with GT BioPharma and Georgetown Translational Pharmaceutical. The merger will result in a combined company that combines Oxis promising oncology drugs as well as GT BioPharma central nervous systems drugs. The deal should close before September 30, 2017.

“The merger of GT BioPharma, Inc. (Oxis) and GTP will greatly accelerate the clinical development of exciting new treatments to meet the medical needs of those suffering from cancer and neurologic diseases,” said CEO Dr. Clarence-Smith.

OXS-1550 Development

OXIS International, Inc. (OTCMKTS:OXIS) in partnership with Europe Paris Oxis has confirmed the enrollment of four patients as part of a Foods and Drug Administration approved Phase 2 Clinical trial of 0XS-1550. The trial is currently being conducted by the University of Minnesota’s Masonic Cancer Center.

Researchers at the university have already completed a Phase 1 trial of the promising cancer therapy where they ascertained safety and effective dosage. Phase 2 trial results are slated for release sometime in the first quarter of 2018.

“The product performed well in Phase 1 studies of blood cancers and we look forward to providing a targeted immunotherapy product that has the capability of treating a number of different liquid tumors,” said Anthony Cataldo, Executive Chairman of GT BioPharma.

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 $OXIS 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.

Windstream Holdings, Inc. (NASDAQ:WIN) Stock Keeps Sliding

Windstream Holdings, Inc. (NASDAQ:WIN)

Windstream Holdings, Inc. (NASDAQ:WIN) stock has lost almost 50% of its value since the company eliminated its dividend and replaced it with a stock repurchase program. The technology company’s stock has made a new 52-week low in seven consecutive trading sessions on heavy volumes.

Windstream Holdings, Inc. (NASDAQ:WIN)
WIN stock price chart

Yesterday Windstream Holdings, Inc. (NASDAQ:WIN) announced the first update to its portfolio of leading Unified Communications as a Service (UCaaS) solutions after the Broadview Networks’ acquisition. Broadview’s OfficeSuite, paired with Windstream’s SD-WAN solution, provides users with a UCaaS experience that combines services such as phone, contact center, chat, video, and collaboration with Windstream’s SD-WAN solution.

WAN technology has been an IT mainstay for voice and data networking infrastructure, but WAN technology has a higher possibility of downtime and latency incidents. Cloud, or hybrid, architectures and the higher cost of adding locations have required some companies to adjust their WAN strategy. Windstream Holdings, Inc. (NASDAQ:WIN)’s SD-WAN solution employs software-defined networking (SDN) to dynamically route traffic over a combination of private and public access types to reach multiple locations. Companies can maintain control over their network from a convenient centralized location rather than managing numerous routers, firewalls, and switches.

Windstream Holdings, Inc. (NASDAQ:WIN) stock target price is pegged at $5.58 by a consensus group of analysts. Its sales have contracted marginally since 2012 when the company posted a figure of $6.14 million. For 2016 the figure was announced at $5.39 million. However, per share earnings have been highly inconsistent. 2012 had a per share profit of $1.68, followed by per share figures of $2.35), (-$0.45), $0.24, and, for 2016 (-$4.11). Last week, Windstream posted a Q2 net loss of (-$68) million, or (-$0.37) per share, on revenues of $1.49 billion.

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 $WIN 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.

Why Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) Stock Broke Resistance

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN)

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) stock price is up over 22% after the biotechnology company announced positive interim results for its drug candidate, ACH-4471. Also today the company reported financial results for the most recent quarter and six months. By 12:40 PM EST, ACHN shares had a volume of over 20 million shares, far exceeding their daily average of 1.5 million.

As of market close yesterday, ACHN shares were down YTD, but after news of the interim clinical trial results, ACHN stock gapped up to open at $4.70 then proceeded to blast through resistance just above $5.00. Shares of ACHN then hit an inter-day high of $5.66 before sellers came in and pushed the shares back below the $5.00 level. Analysts have given ACHN stock a price target of $6.75.

ACHN stock chart:

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN)
Six month stock price chart for Achillion ACHN

Achillion Pharmaceuticals Reports Interim Results

Achillion Pharmaceuticals released interim data from ongoing ACH-4471 trials that indicated the drug candidate had achieved clinically meaningful complement inhibition and demonstrated a favorable tolerability profile with no reports of clinically meaningful increases in liver enzymes. In this initial set of data, ACH-4471 improved LDH, hemoglobin, fatigue score, and other measures of response including PNH clone size. These interim results support Achillion’s global expansion plans for PNH clinical trials.

Achillion Pharmaceuticals Financial Report

For Q2 2017, Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) reported a net loss of (-$22.5) million or (-$0.16) per share, compared with a net loss of $18.5 million or $0.14 per share for the second quarter of 2016. Cash, cash equivalents, marketable securities, and interest receivable as of June 30, 2017 were $369.9 million. Research and development expenses were $18.3 million compared with $14.2 million for the same period of 2016. The increase was primarily due to increased ACH-4471 clinical trial costs as well as increased manufacturing costs for ACH-5228. SG&A expenses were $5.4 million, compared with $5.2 million for Q2 2016. The increase was primarily due to increased legal and consulting fees.

For the six months ended June 30, 2017, Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN)’s net loss was $42.7 million, compared to a net loss of $36.6 million for the first half of 2016. R&D totaled $33.8 million, compared with $27.4 million for the same period in 2016.

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 $ACHN 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.

VIVUS Inc. (NASDAQ:VVUS) Heading for New Lows?

VIVUS Inc. (NASDAQ:VVUS)

VIVUS Inc. (NASDAQ:VVUS) stock is bouncing off its 52-week lows days after the stock took a dive despite generally meeting analyst expectations in last week’s Q2 financial release. Since that release, VVUS stock has lost around $0.10 per share on heavy volume.

VIVUS, Inc. (NASDAQ:VVUS)
One year VIVUS stock price chart

VIVUS, Inc. (NASDAQ:VVUS) reported a loss of (-$0.13) per share for Q2 2017. One year ago, for the same quarter, VIVUS reported a loss of (-$0.11). Revenues, compared to the same quarter one year ago, decreased 18.5% to $11.2 million.

VIVUS, Inc. (NASDAQ:VVUS) is a global biopharmaceutical firm, based in Campbell, CA, that develops and commercializes therapies to treat unmet medical needs. VIVUS sells Qsymia for the treatment of obesity in adult patients. It is also developing Qsymia, which has completed Phase II studies for the treatment of obstructive sleep apnea and diabetes, as well as for other obesity-related diseases, including nonalcoholic steatohepatitis, nonalcoholic fatty liver disease, hyperlipidemia, and hypertension. In addition, VIVUS is developing Tacrolimus, which has completed Phase IIa studies for the treatment of pulmonary arterial hypertension.

Shares of VIVUS, Inc. (NASDAQ:VVUS) have lagged their benchmark. YTD, VVUS stock is down over 11% but the stock is relatively flat for the year. The 52-week high is $1.47 but the analyst’s consensus target price is $2.15. Interestingly, VVUS shares are currently trading at over a 50% discount to their reported cash/share figure of $2.19.

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: 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.

Neuralstem Inc. (NASDAQ:CUR) Stock Price Continues Dive

Neuralstem, Inc. (NASDAQ:CUR)

Neuralstem’s stock price has continued its downtrend despite the news of a $1 million grant from the National Institutes of Health. The grant is classified as a Small Business Innovation Research grant but also goes by the name of America’s Seed Fund. However, Neuralstem stock ended Friday’s Nasdaq session down over 13%. Neuralstem stock chart:

Neuralstem stock
One month daily candlebar stock chart for CUR

About Neuralstem, Inc. (NASDAQ:CUR)

Neuralstem, Inc. (NASDAQ:CUR), headquartered in Germantown, MD, has developed a number of drug candidates based off their proprietary neural stem technology. The company is a clinical-stage biopharmaceutical company that develops treatments for nervous system diseases with a high unmet medical need. Neuralstem’s lead drug candidate, NSI-189 is a small molecule in clinical development for major depressive disorder (MDD) and in preclinical development for Angelman’s syndrome, irradiation-induced cognitive impairment, Type 1 and Type 2 diabetes and stroke. Also in development is NSI-566. This is a stem cell therapy being tested for treatment of paralysis in stroke, chronic spinal cord injury (cSCI) and Amyotrophic Lateral Sclerosis (ALS).

Neuralstem’s Recent History

On July 24, 2017, Neuralstem stock hit an inter-day high of $6.06 but gapped down the next morning to close with a massive 55% loss. The market was reacting to the news that Neuralstem’s drug candidate NSI-189 missed on at least one if its primary endpoints. NSI-189 did not meet its primary efficacy endpoint of a statistically significant reduction in depression symptoms on the Montgomery-Asberg Depression Rating Scale (MADRS). However, the 40 mg QD dose was directionally positive on the MADRS.

While CUR share prices rebounded from their opening lows, Neuralstem’s stock price losses continued every day over the next week. CUR shares now sit on their 52-week lows of $1.18. Remarkably, the two investment firms that follow Neuralstem, Inc. (NASDAQ:CUR) both have CUR shares rated as a “Strong Buy”. This comes despite the lack of revenues and share losses that have been incurred by shareholders every year. In 2013, Neuyralstem’s per share loss was (-$3.57), that was followed by yearly losses of (-$3.38), (-$2.99), (-$and, for 2016, (-$2.53). Meanwhile, shareholders have been diluted every year. In 2012 the number of shares outstanding was 4.47 million. That number has increased every year and in 2016 was reported at 8.35 million shares outstanding.

Neuralstem, Inc. (NASDAQ:CUR) stock has a Relative Strength Index (RSI) figure of 14. That is a level that most traders believes represents an “oversold” 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 $CUR 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.

Windstream Holdings, Inc. (NASDAQ:WIN) Implodes On Dividend Cancellation

Windstream Holdings, Inc. (NASDAQ:WIN)

Shares of Windstream Holdings, Inc. (NASDAQ:WIN) felt shareholder’s wrath after the company announced plans to eliminate its quarterly dividend. The stock plummeted 36.02% to end Thursday’s trading session at $2.38 a share. The sell-off also came on the hells of the company reporting disappointing second quarter results where earnings fell short of analysts’ expectations.

Windstream Holdings, Inc. (NASDAQ:WIN)
One month daily candlebar chart for WIN

Dividend Cancellation

Windstream Holdings, Inc. (NASDAQ:WIN) bills itself as a leading provider of advanced network and technology solutions for consumers and enterprises. The company offers a wide range of bundled services including broadband, security solutions, as well as voice and digital TV. It also offers cloud solutions and unified communications services.

Thursday’s sell-off sent Windstream Holdings, Inc. (NASDAQ:WIN) shares to all-time lows as it registered a new 52- week low of $2.37 a share. The stock has underperformed the overall market ever since it traded at highs of $8.50 a share at the start of the year.

A move to cancel a double digit percentage dividend has not gone well with investors as it was one of the stock’s attractive features. The stock continues to hit lower lows even after company announcing plans to return value to shareholders through a $90 million stock buyback program.

Q2 Earnings

A net loss of $68 million compared to a profit of $1.5 million reported a year earlier also continues to fuel a bearish tone on the stock. The broadband and communication company reported revenues of $1.49 billion – below Wall Street expectations of $1.5 billion.

Chief executive officer, Tony Thomas, has sought to dispel investors’ concerns by reiterating they had a solid second quarter as revenues grew year-over-year. The executive also remains confident about the company’s prospects in the cloud business.

“Additionally, we continue to improve our cost structure and have significant opportunities to further drive down costs through reductions in network interconnection costs, upcoming synergies from the EarthLink and Broadview transactions and initiatives to advance our organizational effectiveness,” said Mr. Thomas.

For The current quarter, Windstream Holdings, Inc. (NASDAQ:WIN) expects service revenue of between $2.02 billion and $2.04 billion helped by the Broadview Networks acquisition. Capital expenditures, on the other hand, should range between $790 million and $840 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 $WIN 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.

Miss for Glu Mobile, Inc. (NASDAQ:GLUU) but Shares Rise

Glu Mobile, Inc. (NASDAQ:GLUU)

Today Glu Mobile, Inc. (NASDAQ:GLUU) reported a loss of $23.6 million for Q2 2017, but its stock price gained over 5% on the news. The San Francisco, CA-based company said it had a loss of (-$0.17) cents per share. The results missed analyst consensus expectations for a loss of (-$0.10) cents per share. The mobile game maker posted Q2 revenue of $68.7 million. Glu Mobile’s adjusted revenue was $82.5 million, which beat consensus forecasts of $72.5 million. For Q3 2017, Glu Mobile expects revenue in the range of $78 – $80 million. The company expects full-year revenue in the range of $307 million to $312 million.

Glu Mobile, Inc. (NASDAQ:GLUU)
One month daily candlebar chart for GLUU

Glu Mobile, Inc. (NASDAQ:GLUU) develops and publishes games for smartphones and tablets. Glu’s audience covers five areas – social networking, food, home, sports, fashion, and action. Some of its games are brands, such as Contract Killer, are developed by the company. Other games are celebrity focused such as Gordon Ramsey’s DASH. Sales are generated through digital storefronts that provide direct-to-consumer channels.

In November of 2016, Nick Earl was named as the new CEO. The motivation for the change was the lack of revenue growth in a hot sector. Sales grew from $223.1 million in 2014 to just $249.9 million in 2015, then dropped to $200.6 million in 2016.

Thomas jettisoned the celebrity branded games which sucked royalty revenue from the firm (Taylor Swift being the lone survivor), and re-focused Glu’s creative team on developing new games. Thomas is betting on the creativity of Glu Mobile, Inc. (NASDAQ:GLUU) employees to return the company’s stock to its upwards trajectory. Thomas brought in Mike Olsen to achieve that goal. Olsen had been running the Electronic Arts team that developed Star Wars: Galaxy of Heroes – EA’s #1 grossing game. Competition in the $40 billion mobile gaming space is fierce and developing popular games that can go viral can cost a lot of money – creative talent has often been the black hole through which funds disappear, never to return.

This year, Glu Mobile, Inc. (NASDAQ:GLUU) shareholders have fared well. YTD, GLUU stock is up almost 50%, and is up over 26% for the year. Today’s closing price established a new 52-week high – a price above the listed consensus target price of $2.87. Three analysts rate the stock as a “Strong Buy” and two rate GLUU shares as a “Hold”.

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 $GLUU 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.

Can GenMark Diagnostics, Inc (NASDAQ:GNMK) Turn it Around?

GenMark Diagnostics, Inc (NASDAQ:GNMK)

GenMark Diagnostics, Inc (NASDAQ:GNMK) shares are down almost 15% to $10.18 after the diagnostic solutions provider announced disappointing Q2 financial results. GNMK shares closed Monday at $11.83 then gapped down after the news was released and opened at $11.52. The market continued to sell-off the shares until they hit the inter-day low of $9.45. As of 11:45 AM EST, shares are trading around $10.15. Volume for the shares are over ten times their listed 30-day, daily average.

GenMark Diagnostics, Inc (NASDAQ:GNMK)
One month daily candlebar chart for $GNMK

Carlsbad, CA-based GenMark Diagnostics, Inc (NASDAQ:GNMK) lost (-$0.37) per share, a larger loss than the (-$0.30) per share loss for the same quarter in 2016. The consensus street estimate was for a loss of (-$0.31) per share. GenMark’s Q2 revenue was $12.4 million and that missed the consensus street estimate of $12.6 million. Gross profit for the second quarter was $4.9 million, or 40% of revenue, compared with $7.8 million, or 62% of revenue in the same period of 2016.

Hany Massarany, President and Chief Executive Officer of GenMark Diagnostics, Inc (NASDAQ:GNMK) stated in a press release “We are delighted to have accomplished several important goals in the second quarter. Our team achieved FDA 510(k) clearance of the ePlex instrument and Respiratory Pathogen Panel as well as CE Mark for all three of our Blood Culture ID Panels. In addition, we significantly strengthened our balance sheet, which will enable us to bring even more focus to the global commercialization of our ePlex System and its menu expansion.”

The stock performance of GenMark Diagnostics, Inc (NASDAQ:GNMK) has not been as strong as the broader market. GNMK shares are down 3.35% YTD, however they are up over 11% for the year. Shareholders have been experiencing wider losses year on year. In 2012 the per share loss was (-$0.84). That loss expanded every year and in 2016 the annual per share loss was reported at (-$1.15). However, sales have improved on an annual basis. In 2012 sales were posted at $20.5 million and that figure grew every year and was a reported 49.3 million by 2016.

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 $GNMK 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.