Akers Biosciences Inc (NASDAQ: AKER) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has entered into a distribution agreement that’s leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about the distribution agreement, what we’re seeing from AKER, and what we’ll be watching for with regard to the stock ahead.
AKER Announces Distribution Agreement
As mentioned above, Akers Biosciences is having an overwhelmingly strong start to the trading session this morning after announcing that it has entered into a distribution agreement. In a press release issued early this morning, the company announced that it entered into a three-year National Distribution Agreement with Diagnostica Stago. In the release, AKER said that the agreement surrounds the sale of the its flagship rapid test Heparin-induced thrombocytopenia, or HIT, across the United States. In a statement, John J Gormally, CEO at AKER, had the following to offer:
The addition of Stago to our growing and distinguished distributor network is a significant milestone in the commercialization of PIFA PLUSS PF4™. Stago is a recognized leader in the field of hemostasis and has a very large and established customer base to which to market our product. Through Stago, Akers Bio will gain access to a dedicated and specialized sales team who are focused exclusively on buyers of hemostasis-related products. Akers Bio is excited about the potential for near-term US sales growth through this new, additional and specialized channel to market.
The above statement was followed up by Philippe Barroux, North America CEO at Stago. Here’s what he had to offer:
Philippe Barroux, North America Chief Executive Officer of Stago, added: “Stago is pleased to have selected PIFA PLUSS PF4™ Rapid Assay as its only rapid test for heparin Platelet Factor 4 antibodies in the US. Our sales team is looking forward to communicating the compelling medical and economic benefits of this uniquely efficient and accurate test for heparin-induced thrombocytopenia to Stago’s customers in line with our commitment to providing market leading hemostasis solutions to improve patient care.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dabble in the market is that the news causes moves. In the case of Akers Biosciences, the news released today was overwhelmingly positive. After all, the distribution agreement means that the company can expect to see a strong increase in revenue surrounding its flagship product. So, it’s no surprise to see that the stock is making a run for the top in the market today. Currently (10:02), AKER is trading at $0.89 per share after a gain of $0.10 per share (12.17%) 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 agreement and excited to see the revenue growth that we see as a result. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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