Akers Biosciences Inc (NASDAQ:AKER) over a one month span is up over 50%. However, the exact catalyst for this upward price growth is not easy to see, but it seems to be that the company’s product portfolio is starting to interest traders. Self-diagnosis or health tech has been a popular trend amongst small caps recently.
Also, AKER announced the closing of its previously announced underwritten public offering, for total gross proceeds of $6,900,000. The funds raised will be used for working capital, product development, marketing activities, expanding our internal sales organization and further developing sales channels and other capital expenditures.
Akers Biosciences Inc (NASDAQ:AKER) together with its subsidiaries, develops, manufactures, and supplies rapid screening and testing products designed to deliver healthcare information to healthcare providers and consumers in the United States and internationally. The company’s marketed products include BreathScan, a disposable breath alcohol detector; BreathScan PRO, a quantitative breath alcohol detection system; METRON, a disposable breath ketone device to monitor ketosis; and BreathScan Lync® reader, a non-invasive, quantitative measurement of biological markers for health and wellness.
Its marketed products also include PIFA Heparin/PF4 and PIFA PLUSS PF4 rapid tests for Heparin/PF4 antibodies to detect an allergy to the used blood thinner, Heparin; seraSTAT, a rapid blood cell separator; Tri-Cholesterol ‘Check’, a rapid test for total and high-density lipoprotein cholesterol and estimates low density lipo protein; and BreathScan OxiCHek, a breath test for oxidative stress using the Lync reader and digital app.
The company’s pipeline products comprise Breath Diabetic Ketoacidosis, a disposable breath ketone device for diabetic monitoring; Breath PulmoHealth ‘Check’, a suite of breath tests for biomarkers indicating asthma, chronic obstructive pulmonary disease, and lung cancer; PIFA PLUSS Chlamydia, a rapid test for sexually transmitted diseases; and BreathScan KetoChek, a breath test for ketosis using the Lync reader and digital.
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Here are a few highlights from the company’s last financial report:
- Summary numbers: Revenues of USD 0.68 million, Net Earnings of USD -1.18 million.
- Gross margins narrowed from 54.42% to 45.80% compared to the same period last year, operating (EBITDA) margins now -165.14% from 66.75%.
- Year-on-year change in operating cash flow of 5.03% is about the same as the change in earnings, likely no significant movement in accruals or reserves.
- Narrowing of operating margins contributed to a decline in earnings.
AKER-US’s change in revenue this period compared to the same period last year of 10.21% is almost the same as its change in earnings, and is about average among the announced results thus far in its peer group, suggesting that AKER-US is holding onto its market share. Also, for comparison purposes, revenues changed by -43.58% and earnings by -76.65% compared to the immediate last period. Furthermore, AKER’s change in operating cash flow of 5.03% compared to the same period last year is about the same as its change in earnings this period. Additionally, this change in operating cash flow is about average among its peer group.
Akers Biosciences Inc (NASDAQ:AKER) has a market cap of 54.74M and a float of 9.73M. The 10 day volume is at 24.81M, while AKER has interesting and novel technology, the question is always: “how far are we until we see revenue?” And, that is a trickier answer with AKER and not easy to answer. We are keeping our eyes on AKER and will update readers as more information comes available. Sign-up for continuing coverage on shares of $AKER stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $AKER, either long or short, and we have not been compensated for this article.