Micro Cap Bid Up Following FDA Submission Announcement

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, July 9, 2024

A medical company based out of Germany is already turning heads during Tuesday’s premarket hours after the company announced the submission of its application to the U.S. Food and Drug Administration (FDA) requesting Breakthrough Device Designation for its non-invasive Next Generation colorectal cancer (CRC) product.

Shares of Mainz Biomed N.V. (Nasdaq:MYNZ) are being massively bid up prior to the opening bell, with traders currently willing to buy shares of this micro cap at $0.53/share (+11.11% implied open for sellers) at the time of writing. This move will come just one session following a run this stock had, with shares closing yesterday at $0.477/share (+22.94%).

Mainz Biomed is engaged in developing molecular genetic diagnostic solutions for life-threatening conditions. It's main product Coloalert is a kit that includes a stool collector and shipping instructions to return the kit through regular mail to their local lab for testing and results.

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Trading on the Nasdaq, Akebia Therapeutics Inc. displayed a Golden Cross (50 DMA / 200 DMA) on Tuesday. Closing at $1.64, the stock has the technical “green light” for potential gains.

Tuesday's hottest penny Stock on the TSX-Venture was Copper Road Resources Inc., which gained 200.00%, closing the day at $0.05.

Tuesday's hottest penny Stock on the Nasdaq was Ensysce Biosciences Inc., which gained 161.65%, closing the day at $0.54.

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Micro Cap Bid Up Following FDA Submission Announcement

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