MYOS RENS Technology Inc. – Nasdaq: MYOS
Last Friday shares of MYOS RENS Technology, a bionutrition and biotherapeutics company, gained over 37% on over 150 times the previous day’s volumes. This week MYOS shares, traded on the Nasdaq, have increased over 30% on heavy volumes – ending the after-hours session at $4.80.
Today the closing of the registered direct offering is expected to take place. The Company entered a securities purchase agreement with an investor, announced on February 3, 2017, to sell 500,000 shares of its common stock at a per share price of $4.25. The Company intends to use the net proceeds for general corporate purposes.
Cedar Knolls, NJ-based MYOS RENS Technology is also known as “the muscle company”. MYOS develops and commercializes products that improve muscle health and performance. MYOS is the owner of Fortetropin®, the world’s first clinically demonstrated myostatin reducer. Myostatin is a natural regulatory protein, which inhibits muscle growth and recovery.
Dr. Robert Hariri, U.S. Chairman of MYOS RENS Technology stated in a January 30, 2017 press release “It has become clear that myostatin is a key clinical target to address fundamental issues such as sarcopenia, inflammation and aging. MYOS RENS continues to lead in the development of products that target myostatin, and we believe, is the only company that has a safe and effective product on the market to modulate myostatin.”
Shareholders of nano-cap MYOS have experienced EPS losses since 2011 when MYOS posted a loss of $4.54. EPS losses continued for the next several years and in 2015 the loss narrowed to $1.64. Sales have been erratic. In 2010 MYOS reported a figure of $100k, followed by figures of $$900k, $3.3 million, $3.3 million, and just $200k in 2015.
Of note is that famed astronaut Dr. Buzz Aldrin is a paid member of MYOS’ Board of Directors and the company spokesperson.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
|Last Price a/o 9:30 AM EST||$ 4.37|
|Market Cap (mlns)||$ 17.46|
|Shares Outstanding (mlns)||3.7|
|Share Float (mlns)||2.48|
|Short Interest Ratio||0.04|