diaDexus, Inc. (OTC:DDXS) may not be among the best gainers of the latest trading session, yet its market performance proved quite satisfactory for its stockholders.
DDXS edged up $0.065, or 21.67%, to $0.3649 per share, its third gain out of the last four sessions and the highest close since May 2011. Moreover, DDXS scored its highest percentage gain since Jan. 9. In terms of turnover, more than 315 thousand shares of common DDXS stock changed hands, the company’s fourth highest turnover for the last 12 months.
DDXS’s last few press releases all served to announce changes in the company’s management. Apart from that, there have been no other corporate updates, hence the lack of information about its current business activities.
Based in San Francisco, California, diaDexus, Inc. claims to be a medical diagnostics company which specializes in developing in vitro diagnostic products aimed at treating cardiovascular diseases nationwide. At present, DDXS has developed a special test known as PLAC ELISA which is expected to help predict health risk for coronary heart disease, ischemic strokes, etc.
As seen on its latest 10-Q form, DDXS’s financial condition a/o Sept. 30, 2011 is determined by its:
- cash reserves in excess of $10 million;
- net working capital of $18.6 million;
- quarterly revenue of $4.35 million, up 38% from Q3 2010;
- net loss of $1.47 million vs. $2.83 million a/o Sept. 30, 2010.
In spite of the company’s negative net result, it has been showing definite signs of improvement on a quarterly basis. As a matter of fact, DDXS has been increasing its revenues and simultaneously decreasing its net losses for the last four quarters in a row, which suggests that the company has every chance of going in the black as long as it continues to improve its financials at this rate.
