Akers Biosciences Inc (NASDAQ: AKER)
Akers Biosciences is having a great start to today's trading session. At the opening bell, the stock was already trading on dramatic gains. Throughout the first hour, we've seen a bit of movement in both directions, but the stock has been able to hold onto the strong gains. Below, we'll talk about what we're seeing from AKER, why, and what we'll be watching for ahead.
What We're Seeing From AKER
As mentioned above, Akers Biosciences is having an overwhelmingly strong day in the market today. When the trading session opened for the day, the stock was already trading on impressive gains. Since the open, the stock has seen some movement in both directions, but the gains have stuck around. At the moment (10:34), AKER is trading at $1.35 per share after a gain of $0.12 per share or 10.20% thus far today.
Why The Stock Is Up
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on AKER. As soon as the CNA Finance team received the alert, we started digging to see exactly what was causing the upward movement. It didn't take long to dig up the story. The gains seem to be the result of a new United States patent that was announced this morning.
The patent announced will cover the design of Akers Biosciences' disposable cartridge that contains the reagent for the detection of wellness markers. The reagent within the cartridge is analyzed using optical scanning technology after contact with the user's exhaled breath sample, producing quantitative results through the Akers Wellness(TM) app on the users smartphone or tablet. In a statement, John J. Gormally, CEO at AKER had the following to offer...
“We believe Akers Bio's technology for rapidly analyzing biomarkers in breath condensate is ideally suited for tests in the expansive US health and wellness market. I am pleased that this latest patent has been allowed as it is essential that we have robust protection over our valuable intellectual property.”
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping an incredibly close eye on AKER. In particular, we're watching for further news with regard to the new patent, and what the company will do to bring the product to a profitable state. Nonetheless, we'll be watching the news closely and bringing it to you as it breaks!
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