MedX Health Corp. (CVE:MDX) (PINK:MDXHF) stock price skyrocketed after the company got an approval to sell their mole examination product in Canada.
MDX stock price hit a new multi-year high at 28 cents per share as it increased 467% over just one session. The trading volume behind the move was 12.9 million, 655 times above the daily average of 19.6 thousand. Naturally, because of this performance the stock was listed among the most actively traded stocks on the Venture Exchange.
The price move was created by simple, yet powerful, news. On February 8, the company announced to have received an approval from Health Canada for their MoleMate product. The news has clearly surprised the market, although the product was already available in Europe, Australia and the US.
MoleMate is a handheld device used for non-invasive imaging and allows viewing the deeper parts of moles during examinations. The device provides information related to the known types of melanomas and moles in general. It scans 2 mm deep below the surface area.
Following the approval, MoleMate is already available in stock for physicians in Canada, meaning the company can start profiting right away. This is very good news for investors and it wouldn’t be surprising to see the share price run further up as the news spreads.
