Guided Therapeutics (OTC: GTHP), a medical device technology company, gained 22% in today’s trading session. After sliding down a few pennies on Monday to $0.72, the company’s stock has skyrocketed since then. Yesterday, the stock closed at $0.77 and opened this morning at $0.8298. The stock reached a high of $0.96 and went as low as $0.79 before closing at $0.94, posting a $0.17 increase. The company reached its 52-week high on January 5 and 6, 2012, when it closed at $1.74. It quickly went downhill from there. By January 25, 2012, the price had suffered a sharp decline, closing at $0.70. The stock price climbed back up to $1.06 on March 12, 2012, but has not been that high since. June 1, 2012, saw a 52-week low of $0.635, and the stock has seen many ups and downs since then.
Volume also saw an increase. More than 446,000 shares were traded today, which was more than seven times above its average daily volume. Volume has not been this high since January 25, 2012, when volume reached just under 602,000 shares. January 24, 2012, saw more than 470,000 shares traded. Volume reached a 52-week high on January 23, 2012, when 3.25 million shares were traded. In fact, volume was above average throughout January 2012 before tapering off in February 2012.
Guided Therapeutics, based in Norcross, Georgia, is known for its LuViva Advanced Cervical Scan, which is still under development. This non-invasive device allows doctors to test women for cervical pre-cancer earlier than current tests. The fast and painless test requires no tissue samples or lab analysis.
In a clinical trial that tested 1,600 women, the results showed that LuViva detected cervical cancer two years earlier than Pap tests, HPV tests, biopsy and colposcopy. LuViva also detected more than 86% of cervical disease cases that the other tests missed. LuViva was also proven to reduce the need for biopsies by 40%.
Guided Therapeutics announced today that it received CE Mark approval for the LuViva device. A CE Mark is required to sell products in the European Union. The European Union is a huge market for the company, as there are an estimated 146 million women there who are targeted by cervical cancer screening programs. The CE Mark is a huge milestone for the company, as it allows the company to market and sell LuViva there later this year as planned.
Penny stock newsletters had not promoted Guided Therapeutics since March 2011 until it was touted today as one of the top three stocks to watch. If the strong gains continue, you can bet that investors will start to take notice. It has already beaten some of its March 2012 numbers, so maybe a new 52-week high is on the horizon.
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