Wednesday, February 23, 2011

BMOD: Biomoda Pops on Patient Enrollment

Biomoda, a cancer diagnostics company developing diagnostic tests for the early detection of cancer announced on Tuesday that it had "completed patient enrollment and sample collection for the pilot study to determine the clinical sensitivity and specificity of its CyPath diagnostic assay for the early detection of lung cancer," according to the press release.

Shares spiked by forty percent on the news, with significant volume, considering BMOD is generally a lightly traded stock.

Top-line results from the study are due to be released by the end of March, also according to the press release, giving the company and the stock a potential short term catalyst. 

Dilution and fund raising events will always be a concern for this company, however, so it's worth taking note of that fact.

A highly speculative company, but if it starts looking like CyPath could be for real, then this will be one that everyone should have on their radars.

Worth watching, especially towards the end of the first quarter when results are due.

Disclosure:  No positon. 

No comments:

Post a Comment

Follow by Email