Akers Biosciences Inc (NASDAQ: AKER) is running for the top in the market this morning after announcing that it has expanded its distribution capabilities surrounding its HIT rapid test. Of course, this led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about:
- The expanded distribution capabilities;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for with regard to AKER ahead.
AKER Expands Distribution Capabilities
As mentioned above, Akers Biosciences is having an incredibly strong start to the trading session this morning after announcing expanded distribution capabilities. In a press release issued early this morning, the company announced the engagement of two leading Independent Sales Representative organizations with the goal of increasing US sales and marketing capabilities surrounding the company’s rapid test for heparin-induced thrombocytopenia, also known as HIT.
In the release, AKER said that it has entered into agreements with Opto-Systems, Inc. and Herzog Surgical, Inc. and that these agreements are in line with the company’s strategy to create platelet factor 4 awareness among surgeons as well as to expand the use of its point-of-care PIFA Heparin/PF4 Rapid Assay production platform. In a statement, John J. Gormally, CEO at AKER, had the following to offer:
The development of Akers Bio’s Independent Sales Representative organization is a key component of our strategy to increase awareness and sales of PIFA Heparin/PF4 Rapid Assay products in the US. It represents the third wave of our commercialization strategy which included value captured in price, a strategy to target Integrated Delivery Networks and now, a strategy to influence the clinical pathway by educating the clinical end-users on the critical medical benefits of adopting this rapid test for heparin platelet factor 4 antibodies.
We are thrilled to be working with Opto-Systems and Herzog Surgical whose respective specialized capabilities will bolster our sales efforts and allow our test to gain substantial additional regional coverage at a clinical level. We are looking forward to working with them – and other ISR organizations with whom we expect to engage in due course – to effect real change in the clinical pathway for the diagnosis of HIT.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig in the market is that the news causes moves. In this particular case, the news proved to be overwhelmingly positive. With the agreements between Akers and these two Independent Sales Representative organizations, distribution surrounding the company’s HIT test is likely to see some seriously positive movement, if and when FDA clearance takes place, of course. So, it’s no surprise that investors are excited today. Our partners at Trade Ideas were the first to alert us to the gains. Currently (10:10), AKER is trading at $0.57 per share after a gain of $0.04 per share (8.26%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on AKER. In particular, we’re interested in following the distribution surrounding the HIT test considering the agreements with these sales organizations. We’re also watching the FDA movements surrounding this particular test. After all, the company is in talks with the FDA regarding the potential need for more data, which could be damning to the stock price down the line, at least for a short period of time. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks.
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