diaDexus, Inc. (OTCMKTS:DDXS) Reaches Unstable Price Levels
It is not a common sight among the various medical pennystock companies to see one that has a completed product, generates revenues and is capable of continued growth. Still diaDexus, Inc. (OTCMKTS:DDXS) has been able to achieve all of that and on Monday they announced the financial results for their 13th quarter of year-over-year growth.
The recent performance of their stock has started to reflect the positive development of the company and in just three months it more than doubled, jumping from $0.8 to $2.10 per share. Last week it reached the new 52-week high of $2.23 but it has dropped a bit since then. In early trading today the ticker is behaving rather erratically making a couple of sharp falls but recovering right away. The current price levels might prove to be unstable with investors starting to take profits.
As we said, on Monday DDXS held a conference call and made public the latest financials of the company. Total revenues amounted to $6.4 million, a 21% increase compared to same period last year. Despite the significant sales the company is still unable to turn in a positive bottom line with net loss of $400 thousand. However, this won’t be a problem for now due to the $12.2 million cash reserves available to the company.
Earlier this month they were able to double the amount of their loan agreement with Comerica Bank from $5 to $10 million. This will enable DDXS to continue with the development of their pipeline and to submit their PLAC blood test for a clinical validation trial by the end of the first quarter of 2014. Still using caution is advisable when investing in the company. They have been featured in a number of email alerts albeit for no disclosed compensation by the pumpers.
And playing pumped stocks is becoming riskier and riskier. Yesterday saw another company being suspended by the SEC – Press Ventures, Inc. (OTCBB:PVEN). They were touted by Pennystocks.com, a newsletter that can be linked to the recently retired Awesome Penny Stocks. On the other hand the $500 thousand pump for Bison Petroleum Corp. (OTCMKTS:BISN) is going strong currently sitting at $1.58, or 8% above the previous close.
