3 Jul

Akers Biosciences Was Up ~12.5% Today: Six New Distribution Deals

WRITTEN BY Sarah Collins FEATURED IN Company News, Insights, & Analysis

Akers Biosciences stock price movement

Today, Akers Biosciences (AKER) stock rose ~7.5% higher in pre-market trading. Yesterday, the stock ended at a closing price of $0.38. However, currently, the stock is trading lower than its 5o-day moving average of $0.46 and 200-day moving average of $0.47. The stock was trading at a 52-week high of $1.82 on October 12, 2017, and a 52-week low of $0.12 on December 22, 2017. Akers Biosciences stock has registered an impressive YTD (year-to-date) return of ~185%. However, the stock has registered a decline of ~55% over the past three months. Over the past month, AKER has declined ~15%.

Akers Biosciences Was Up ~12.5% Today: Six New Distribution Deals

Akers Biosciences expands its US distribution capabilities

Akers Biosciences develops point-of-care technologies for the screening and testing of a range of medical conditions and specialties, including cardiology, diabetes, respiratory, metabolism-related conditions, and the detection of infectious diseases.

Today, the company announced that it has entered into new agreements for expanding the distribution of its rapid test for HIT (heparin-induced thrombocytopenia). These agreements are with six ISRs (independent sales representatives) organizations: Aspen Scientific, Stone Mountain Surgical, Evolution Surgical, BCD Medical, ACT Medical, and Tuzik Boston.

With the new deals, Akers Biosciences has extended its coverage to 27 states across the United States. The deals accelerate the company’s aim to raise awareness among healthcare professionals regarding HIT diagnosis, increase platelet factor 4 awareness among clinical end users, and increase awareness of the benefits of Akers Biosciences’ tests to drive sales of its PIFA Heparin/PF4 Rapid Assay products.

According to John J. Gormally, CEO, “We are delighted to have further enhanced our Independent Sales Representative network across the US. The capabilities of all our appointed ISRs are intentionally focused on surgeons and surgical teams. At the core of our strategy is to influence the clinical pathway for the diagnosis of HIT and therefore drive sales of PIFA Heparin/PF4 Rapid Assay products. With a rapidly expanding footprint across the US, we are able to raise awareness of the benefits of our tests across the key clinical end-user audiences on a broad scale.”

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