Zenosense Inc (OTCMKTS:ZENO) is a tiny float (7.1M) micro-cap stock that’s getting a lot of attention these days. On Valentines Day 2017 ZENO began to get it’s footing with a solid volume day which was telegraphing a price rise. Shares subsequently moved off it’s yearly low at .35 cents and sprinted straight for the $1.00 ceiling breaching it several time before settling above that price level now acting as a floor. For Zeno all market watchers need to do now is watch how (and if) prices hold the $1.00 support level.
This stock has been a great performer in 2017, and it is important to understand what they do to translate to jump in share prices and volume. ZENO is a healthcare technology company primarily focused on the development and commercialization of MIDS Cardiac™, a Point of Care handheld device for the early detection of certain cardiac event biomarkers to significantly accelerate the triage, diagnosis, treatment and disposition of patients reporting chest pain.
Zenosense Inc (OTCMKTS:ZENO) primary focus, through a joint venture ownership in MIDS Medical Ltd., is the development of a cost-effective, hand-held Point of Care rapid cardiac diagnostic device, MIDS Cardiac™, and is also the holder of an exclusive global license agreement to develop and market effective medical devices for use in hospitals and primary healthcare settings targeting the early detection of both deadly bacteria and certain cancers in the exhaled breath of patients.
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We think the price movement is a result of the relationship with Future Diagnostics an independent, certified service provider focused on the medical diagnostics and device industry based in Wijchen, the Netherlands.
Future Diagnostics is specialized in full IVD immunoassay development, biomarker qualification, point of care test development, and OEM contract manufacturing. Future Diagnostics offers flexible support in feasibility & optimization, verification, technical transfer, and validation. Its FDA-registered facility is fully compliant with all regulatory requirements to manufacture IVD products or assays going to market.
Future Diagnostics has developed assays for several of the world’s largest multi-national diagnostics companies and has recent experience in modern troponin assays. It also has expertise in additional areas key to MML, including paramagnetic particle based assays, POC and automated platform based technologies.
During the current testing and development phase MML will utilize Future Diagnostics’ consulting services to inform its development team of the MIDS design parameters regarding a future cardiac assay(s), planned to be embodied in a test strip in a second phase of development. This early access to Future Diagnostics’ expertise is expected to greatly assist MML in design areas such as microfluidic and magnetic detection optimization for MML’s planned high sensitivity troponin assay.
Dr. Nasser Djennati, Managing Director of MIDS Medical, commented: “Future Diagnostics is highly respected, efficient and a great fit for us. To have this knowledge base on tap will be very useful, both now and as we move into the next development phase.”
Dr. Ernst Lindhout, Research & Development Director at Future Diagnostics, commented: “The MIDS technology offers the prospect of high sensitivity magnetic detection in an automated, POC platform, a novel approach from current optical detection systems. We believe we can be of great assistance to help bring the high potential MIDS technology to market and are delighted to be working with MIDS Medical at this early stage.”
We love good stories about stocks when news matches up with price movement and volume increases. It also is positive when you can find a technical pattern that makes sense allowing you to simplify where value is in the price of the asset. In the case of Zenosense Inc.’s (OTCMKTS:ZENO) it is right here in front of you. For continuing coverage on shares of $ZENO stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!