Cannabis Science Inc. (OTC: CBIS), CytoSorbents Corporation (OTC: CTSO) and Luna Innovations Incorporated (NASDAQ: LUNA) are three small stocks with big moves during today’s session.
Cannabis Science Spikes after Government Report
Cannabis Science Inc. (CBIS, Free Analysis), a biotechnology company focused on pharmaceutical cannabis products, spiked higher late during today’s session after a U.S. government issued report indicated that the treatment of cancer with cannabinoids goes beyond the simple treatment of symptoms and side-effects by exhibiting possible anti-tumor activities.
Investors are hoping that the favorable report helps solidify the cannabis company’s claims, but they should be aware that it has not generated any revenues and has posted a loss of more than $58 million since its inception in January of 2005. Meanwhile, the firm’s total assets of $88,612 are outpaced by more than $1.2 million in current liabilities, suggesting it may need to raise additional capital soon.
CytoSorbents Soars after European Regulatory Approval
CytoSorbents Corporation (CTSO, Free Analysis), a developer of blood-purification technologies designed to combat sepsis and similar diseases, soared more than 130% during today’s session after receiving approval from European regulators for its flagship CytoSorb product. The CE Mark was awarded after the company was able to meet safety and label efficacy claim requirements.
Investors are hoping that the approval paves the way for E.U.-based revenues, but should be aware that the blood-purification technology develop continues to operate at a net loss although this is common for early-stage biotech companies. Since its inception in 1997, the company has lost more than $83 million, while its balance sheet currently shows a $484,581 deficit, as of December 31, 2010.
Luna Innovations Rises on Extended Relationship
Luna Innovations Incorporated (LUNA, Free Analysis), a sensing and instrumentation provider for the healthcare, telecommunications, energy and defense markets, rose more than 40% during today’s session after extending its agreement with Intuitive Surgical (ISRG) – a leader in medical robotics – to further integrate its shape sensing technology into Intuitive’s product lines.
Investors are hoping that the extended agreement will result in greater revenues, but they should be aware that the sensing and instrumentation company continues to operate at a net loss. During the quarter ended September 30, 2010, the firm’s revenues declined 3% to $8.6 million due to its technology development division, but its net loss narrowed significantly amid lower expenses.
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