Some of the hottest small-cap stocks could be found in biotech and pharmaceutical related trades. Here were three of the week’s biggest movers to still keep an eye on.
Co-Diagnostics Inc. (NASDAQ:CODX)
Shares of CODX broke from a low of 90 cents to a high of $2.30 this week on news the company shared positive results of a study to detect cancer mutations using its patented CoPrimer technology with applications in liquid biopsy and companion diagnostic tests. The study showed highly specific detection of the 10 mutations associated with non-small cell lung carcinoma.
Dwight Egan, Co-Diagnostics CEO, commented: "The global cancer diagnostics market was recently valued at $144 bn and growing, as healthcare professionals focus on more effective diagnostics and monitoring to battle one of the leading causes of death worldwide. We anticipate a large and ready market among clinical laboratories for NSCLC and other cancer liquid biopsy tests designed on our CoPrimer platform. Given the relatively few PCR liquid biopsy tests on the market and the growing demand for more, we believe the advantages of our technology will create meaningful revenue opportunities and position Co-Diagnostics to become a leading innovator of liquid biopsy solutions.”
Outlook Therapeutics (NASDAQ:OTLK)
Shares of Outlook Therapeutics exploded this week after analysts at H.C. Wainwright initiated the stock with a buy rating and $8 price target. Better, the company just dosed the first patient in its ONS-5010-002 Phase III clinical trial for Wet Macular Degeneration.
“The ophthalmic community is well aware of the benefits of bevacizumab in the treatment of wet AMD. ONS-5010 is an exciting product because, if approved, it has the potential to meet the needs of wet AMD patients by offering an FDA approved bevacizumab and, by doing so, potentially overcoming some of the limitations that are encountered with using compounded bevacizumab,” added Mark Humayun, M.D., Ph.D., Medical Advisor to Outlook Therapeutics, Inc. and a principal of MTTR LLC, the Company’s strategic partner for the ONS-5010 program.
This morning, Oracle gave a buy signal at $2.23. At the moment, the stock is up to $2.87 with overhead resistance at $3 a share. If we look at three-month chart of OTLK, we can see double top resistance at $3 a share. If it can break ou7t, we could see a potential bearish gap refill around $8 a share – H.C. Wainwright’s current price target.
Guardion Health Sciences Inc. (NASDAQ:GHSI)
Guardion Health Sciences Inc. saw monster volume this week after the company received a patent from the Patents Registry in Hong Kong (Hong Kong Patent No. HK1204758 titled “Apparatus for Use in the Measurement of Macular Pigment Optical Density and/or Lens Optical Density of an Eye”) for its proprietary medical device, the MapcatSF, which measures the macular pigment density in the human eye, thus facilitating treatment for several ocular conditions and diseases that affect a large number of patients.