diaDexus, Inc. (OTCMKTS:DDXS) Slides After Quarterly Results
It seems that the stock of diaDexus, Inc. (OTCMKTS:DDXS) lacks the strength to push beyond the $2.10 mark and after the latest attempt it is now once again retracing its steps downwards. Not even the quarterly report posted during yesterday’s session managed to reverse the trend and the ticker dropped another 6.7% to close at $1.8 per share.
Despite the recent setback their stock performance for the year has been quite impressive having in mind that for the past two years the ticker rarely left the $0.2 – $0.4 price range. Not to mention that the financial results of DDXS puts the company far ahead compared to the other medical pennystocks.
As we’ve already said in our previous articles about the company their main advantage is that they offer the only FDA approved Lp-PLA2 blood test – the PLAC Test ELISA Kit. But now they are planning to further bolster their pipeline by submitting the PLAC Test for Lp-PLA2 Activity to the FDA. This second test is already approved for distribution in Europe but the additional revenues that can come from the USA market may finally turn DDXS into a profitable company. According to the report from yesterday they finished the quarter ending September 30 with:
- $12.2 million cash
- $16.4 million total current assets
- $5.1 million total current liabilities
- $6.3 million revenues
- $354 thousand net loss
Revenues have increased by more than a million compared to the same period last year while the positive working capital amounts to $11.3 million. Cash reserves are supposed to keep the company going for at least the next twelve months. The accumulated deficit is still climbing though and currently is just shy of $200 million.
During yesterday’s session the pump for Pan Global Corp. (OTCMKTS:PGLO) started crashing and by closing time more than a third of its value was wiped. Investors should be warned that new alert emails are still being distributed thanks to the $1.1 million budget for the promotion.
