Advanced Medical Isotope Corp. (OTCMKTS:ADMD) Drops Further
[[tagnumber 0]][[tagnumber 1]]After climbing the charts throughout March we saw Advanced Medical Isotope Corp. (OTCMKTS:ADMD) swaying in both directions before finally stabilizing around the $0.004 per share mark. That was until Tuesday when the company stock lost 33.33% of its value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Probably one of the main reasons for this to happen was the lack of news coming from [[tagnumber 6]]ADMD.[[tagnumber 7]] Their latest press release was two months old and everyone was anticipating a reply from the FDA for the company’s de novo submission for marketing clearance of their Y–90 Radiogel.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The lack of information might have led investors to doubt their decision and some people began abandoning ship. Yesterday’s session was another blow to the company stock as it lost another 11.54% of its value and dropped to $0.0023 while the 67 million traded shares generated $153 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We discussed the horrible financial situation in which the company is and the massive dilution that shareholders have had to endure. The worst, however, might be yet to come. After yesterday’s session the company issued a “commercialization and strategic plan update”.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The title of the PR didn’t seem worrying, but the contents sure were. It informed the public that the de novo submission of the Y–90 Radiogel has been declined which means that there will be quite some time until any progress has been made in that direction.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]So far this has proved disastrous for the company stock. [[tagnumber 6]]ADMD[[tagnumber 7]] gapped down today and opened into the triple zeros at $0.00055 per share. As of the writing of this article we see that it has gone up a bit and is sitting at $0.0007, but the loss is still 69.57%. Only time will tell if the ticker will drop any further, but you should be sure to do your due diligence before putting any money on the line.[[tagnumber 2]]
