Wednesday, March 30, 2011

BMOD: Biomoda Announces Top-Line Results

In February Biomoda, Inc. announced full enrollment of an ongoing trial, and shares spiked significantly on the news with heavy volume.

The February press release also announced that top-line results would be available by the end of March and on Wednesday the company announced positive results of the trial.

 CEO Maria Zannes stated in a press release that "The results demonstrate that CyPath® is a significant new biomarker for lung cancer that can be optimized for use as an inexpensive, noninvasive lung cancer diagnostic for large at-risk populations."

With the positive news announced, Biomoda plans to seek out partnerships to develop its cancer-detecting diagnostic tests to market.

Shares of BMOD fell sharply on the news, trading down by as much as 50% which, in my opinion, opened up a nice - although still highly speculative - buying opportunity. 

Keep an eye on this one as the story develops.

Disclosure:  Long BMOD.

1 comment:

  1. i think the reason the stock bombed was the specificity was actually quite poor. People were expecting excellent data and submission for ce mark approval but instead got news of more delays, studies and tweaking necessary.
    i fully expect to see another round of dilution/fundraising. This stock is toast.


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