Today's Research Reports on Stocks to Watch: Cancer Genetics and MiMedx Group
NEW YORK, NY / ACCESSWIRE / August 16, 2017 / Cancer Genetics traders sold off in Tuesday trading after the company hit as high as $3.90 on Monday after announcing second quarter financial results and a definitive agreement with vivoPharm. Shares of MiMedx Group saw gains despite no big news aside from hitting a milestone in 1 million allograft distributions to date.
RDI Initiates Coverage on:
Cancer Genetics, Inc.
https://ub.rdinvesting.com/news/?ticker=CGIX
MiMedx Group, Inc.
https://ub.rdinvesting.com/news/?ticker=MDXG
Cancer Genetics, Inc.'s shares closed down 20.51% yesterday but gained back 4.84% in after-hours trading. It was a pullback for the stock which saw some gains on Monday. On Monday, the New Jersey-based diagnostics company reported its second quarter results with a loss of 16 cents. Revenue for the period was $6.6 million. On Monday the company along vivoPharm Pty. Ltd. announced that they have entered into a definitive agreement for Cancer Genetics to acquire vivoPharm for approximately $12 million USD. vivoPharm has supported over 200 IND submissions for innovative therapies, with a significant focus on immuno-oncology.
"This accretive acquisition immediately strengthens our market position as the premier partner for oncology therapeutic and diagnostic development while furthering our mission to change patient outcomes and improve industry insight into the mechanisms of oncology," said Mr. Panna Sharma, President, and CEO of Cancer Genetics, Inc.
Access RDI's Cancer Genetics, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=CGIX
MiMedx Group, Inc.'s shares closed up 6.08% on Tuesday on nearly 4.5 million shares traded. The healthcare company soared to a new high of $17.24 during intra-day trading. It was an unusual day of activity for the company yesterday as there was no significant news to explain the gain. Last week the biotech announced a milestone that it has distributed over 1,000,000 allografts to date for application in the Wound Care, Burn, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic and Dental sectors of healthcare. MiMedx is developing and marketing regenerative and therapeutic biologics utilizing human placental tissue allografts with patent-protected processes for multiple sectors of healthcare. CEO Parker H. Petit commented in the press release, "We are very pleased about hitting this impressive milestone of supplying our one millionth allograft. We are especially proud of the hundreds of thousands of patients that our allografts have aided in the healing of their respective conditions. The remarkable outcomes produced by the application of our allografts have assisted physicians and their patients in countless areas of care."
Access RDI's MiMedx Group, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=MDXG
Our Actionable Research on Cancer Genetics, Inc. (NASDAQ: CGIX) and MiMedx Group, Inc. (NASDAQ: MDXG) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
