traded volume jumped over 304 thousand shares.The only reasonable explanation on the up move appeared to be the news from yesterday, reporting that the University of Texas Health Science Center was enrolling 300 patients in an ongoing clinical trial to study the speed and accuracy of NanoLogix technology.
According to the announcement, NNLX is very excited for being invited to work with UTHSC and is optimistic about the future collaboration. Though, the results are yet to come.
NanoLogix is a biotechnology company specializing in rapid diagnostics tools for bio-defense, medical, environmental and industrial uses. Apart from the news about the clinical trial and the company’s quick bacteria tests, NNLX has not reported much on its activities recently, so the whole September remains in mystery.[BANNER]
In April-May this year, NNLX price exceeded $1 per share and hit a phenomenal volume, though after that the stock price moved lower.
However, the most interesting fact here is that Nanologix has not filed any financial reports with the SEC for 5 years and nobody knows how the pink sheets company funds its operations. Though, its website is full of speculative announcements, which have been regularly pushing up NNLX stock price.
Nanologix has already set the date for their general shareholder meeting for 22 April, 2011. Meanwhile, no one can be certain what’s going to happen with the company.
