Whenever a pink sheets gets an FDA approval, it usually has a hugely positive impact on its stock. As it is, Repro-Med Systems, Inc. (PINK:REPR) is hardly an exception.
Yesterday, REPR stock delivered a third extraordinary performance in a row. Closing the session at $0.41 per share, not only did it gain 18% in value, but also set a new 52-week record. The volume surge was also impressive, although it failed to set any new highs. Not bad for a stock that, until three days ago, was traded around the $0.26 mark.
As mentioned above, REPR announced what initially sounded like some very special news. According to the PR, he U.S. Food and Drug Administration has now allowed REPR to freely market its Subcutaneous Needle Sets nationwide. As their name suggests, these needle sets are aimed at delivering medicine to subcutaneous tissue. Prior to the approval, the company could only market its product overseas. According to its President Andrew I. Sealfon, REPR’s needles were smaller-gauged, thus allowing for both better flow rates and less discomfort for the patient as compared to traditional larger needles.
Occupying the Surgical and medical industry, REPR pretends to be a leading producer of portable medical devices. The company was incorporated in New York, where it also has its headquarters.
REPR is a diligent information provider and its place on the OTCQB market tier is a clear indication thereof. Last Friday, it filed a full-blown 10-K report for the annual period ended Feb 28, 2011. It revealed:
- $1.3 million in cash;
- $3.015 million in current assets vs. $314K in current liabilities;
- $5 million in net sales and net income in excess of $0.7 million.
Seen from a financial perspective, REPR shows strong signs of positive development. Whether the trend will continue, however, still remains to be seen. If American patients accept the company’s products the way overseas patients already have, REPR might eventually be in for a much longer positive trend on the stock market.
