diaDexus, Inc. (OTCBB:DDXS) Maintains Uptrend
Even though yesterday there were no large volume spikes, diaDexus, Inc. (OTCBB:DDXS) still managed to shift nearly 1 million shares – well above its average, and closed the session nearly 9% up.
We have been following the company for a short while now, ever since the initial 25% jump sent it over the $1.00 mark. Perhaps a little surprisingly, the stock managed to hold its own and added another fifth to its price over the next four consecutive green sessions.
DDXS is a pharmaceutical company catering to the cardiology market. The company produces the FDA-approved PLAC test, which diagnoses increased risk of cardiovascular problems that could lead to heart attack and stroke. As news of an analyst firm initiating coverage of DDXS and putting a ‘strong buy’ rating on the stock hit the wire, the company closed 25% up on heavy volume.
Here is how DDXS looked on the financial side of things as of its latest report dated March 2013:
- $12.7 million in cash
- $4.4 million in current liabilities
- $5.5 million in Q1 revenues (13% up year-over-year)
- $1.1 million in Q1 net loss (12% down year-over-year)
Starting with the very respectable amount of cash that the company has at its disposal and factoring in the steady revenue growth derived above all from product sales and the contained net loss, DDXS is looking different from many of its OTC-tier pharma peers. The company does have a fair amount of notes payable to clear but the majority of that is deferred over the next three calendar years.
DDXS announced a conference call for next Thursday, August 8, during which the company will discuss financial results for Q2 of 2013. A strong second quarter which shows further growth on a QoQ basis will possibly further boost the stock’s chart performance, provided DDXS manages to at least stay level near its current price by the time of the call.
Other stocks that moved up yesterday include Sanborn Resources, Ltd. (OTCBB:SANB) who climbed 19% on dollar volume of $1.7 million. Alternative Energy Partners, Inc. (OTCBB:AEGY) closed Wednesday 146% up, at $0.003 per share.
