Medipattern Corp. (CVE:MKI) (PINK:MKIFF) is up for an extended rally after the company got an FDA approval for their flagship product Visualize:Vascular.
The clearance put the stock on the radars of many traders, as it could provide a multiday price rally. The stock already added 950%, or 57 cents, to the vague value it previously held.
Visualize:Vascular is an ultrasound based device created for use in vascular radiology and vascular surgery. It allows physicians to assess vascular disease through a use of quantified, segmented and measured ultrasound imaging. The product is available in the US and the first shipments will begin as soon as the second quarter of 2011.
The company had little value up to this point – their fundamentals depicted a story of a common development stage business and the stock had seen little interest from traders. Historical fundamental data shows:
- Constant cash raises using common stock;
- Miniscule revenues;
- Quarterly net losses, which drag on since inception.
The business holds a negative tangible worth, meaning the current $36+ million market cap runs merely on expectations for a financially bright future. The company hasn’t provided guidance on sales expectations, nor the sale price for the device.
