Investors are consistently seeking companies at the forefront of innovative solutions; this article identifies Five (5) SmallCap companies to add to you watch list now!
Intelligent Bio Solutions Inc. (NASDAQ: INBS) The company's recent accomplishments suggest that it might be a noteworthy stock to watch not only in December 2023 but also for the foreseeable future. On November 27, 2023, the company revealed that State Road Constructions, an Australian civil construction company, has chosen its exclusive Intelligent Fingerprinting Drug Screening System for use in workplace drug screening. The company's stock saw a 5.79% increase, closing at $0.3068, with a trading volume of 2,145,077 shares.
The company maintained positive momentum across various aspects. In the initial fiscal quarter concluding on September 30, 2023, reported a 191% year-over-year increase in combined revenue and government support income. Notable milestones in the quarter included a distribution agreement signed with TSCOM in July 2023 and the ISO recognition awarded to its Intelligent Fingerprinting System (IFP) for drug screening in September 2023.
Recently, Intelligent Bio Solutions revealed the achievement of notable milestones related to the incorporation of tramadol and ketamine into its fingerprint drug test library. Presently, the IFP provides tests for cocaine, cannabis, methamphetamine, and opiates. The company is strategically expanding its library to encompass additional substances, aiming to capture a broader share of the market.
A significant facet of the company's current path is its entry into several new markets. Intelligent Bio Solutions extended its business footprint in the United States by securing VKHP Haulage as a user of its IFP Screening System. Another noteworthy development was the company's expansion into the New Zealand market. It's worth mentioning that preceding its entry into the New Zealand market, the company had already established a presence in the larger Australian market, making it a logical progression. On August 1, the company announced the signing of eight new clients in Australia a few months after initiating its marketing efforts in the country. Given its trajectory, Intelligent Bio Solutions is likely catching the attention of many investors.
From a technical perspective, Intelligent Bio Solutions Inc. (NASDAQ: INBS) exhibits the potential for a notable rebound in 2023. As a result, the stock’s trading activity in November 2023 exhibited a closing price high of $0.5775 and an intraday peak of $0.78. Currently, it is trading at $0.3068, making it a noteworthy stock to keep a close eye on in the upcoming weeks.
Redhill Biopharma Ltd. (NASDAQ: RDHL): The stock was one of the major movers on November 27 as it clocked gains of 216% to hit $1 a share. Additionally, the trading volume on the Redhill Biopharma Ltd. share shot up to 193,163,849. One of the biggest reasons behind the positivity around the stock was that its product, Talicia, had been granted regulatory approval.
The United States Food and Drug Administration awarded exclusivity for five years for the product to Redhill Biopharma. The product is a therapeutic meant to treat Helicobacter pylori. Additionally, many hedge funds own the company’s stock, and that may be an enticing piece of information for many. The five-year exclusivity had been granted to the company as per the provisions of the Generating Antibiotic Incentives Now (GAIN) Act's Qualified Infectious Disease Product (QIDP) designation. Another document stated that a wide-ranging intellectual property suite protected the therapeutics up until 2034.
Cardio Diagnostics Holdings Inc. (NASDAQ: CDIO): The stock continued to gain momentum on November 27 after recording gains of 128% over the preceding week. On November 20, it emerged that Cardio Diagnostics Holdings Inc. had signed a supply and distribution agreement with Aimil Limited.
Aimil is one of the leading players in the instrumentation industry in India and is responsible for providing innovative technologies to its considerable healthcare network in the country. As per the provisions of the agreement, Aimil would utilize the PrecisionCHD clinical test from Cardio Diagnostics Holdings Inc. for tailored coronary heart disease management.
Cardiovascular diseases contribute to 282 fatalities per 100,000 people in India and are the leading cause of death in the country. In the first phase, the company would lay the groundwork for introducing the product to the healthcare network of Aimil. The company continues to expand its footprint in the United States even though it enters new markets like India.
Catheter Precision (NYSE American: VTAK) This U.S.-based medical device company focuses on advancing cardiac arrhythmia treatment by introducing novel solutions to the market and is dedicated to developing groundbreaking technology for electrophysiology procedures, aiming to enhance these processes through ongoing collaboration with physicians and continuous product refinement.
The company's recent surge in stock momentum is attributed to its potential expansion into Europe. On November 20, Catheter Precision made headlines by successfully completing its initial VIVO™ cases in the southeastern region of Europe. VIVO™, the company's non-invasive 3D imaging system, is employed before procedures to pinpoint ventricular ablation points of interest. It plays a crucial role in pre-procedural planning, enhancing procedural accuracy, and providing essential support to physicians.
The evaluation of the VIVO™ system took place during four ventricular ablation procedures at Dubrava University Hospital in Zagreb, Croatia. Dr. Ivan Zalikovic, Head of the Electrophysiology Lab at Dubrava University Hospital, expressed satisfaction with VIVO™'s simplicity and flexibility in workflow. He commended the system for surpassing expectations, particularly highlighting the impressive maps it generated.
Ginkgo Bioworks Holdings Inc. (NYSE: DNA) The company’s stock has been gaining momentum through the course of November 2023. Ginkgo Bioworks Holdings Inc. is involved in creating a major platform for biosecurity and cell programming. On November 8, it announced its financial results for the third fiscal quarter that ended on September 30, 2023.
The company recorded revenues of $55 million, which reflected a decline of 17% from the $66 million it generated in the prior-year period. However, cell engineering revenues went up to $37 million from $25 million in the prior-year period. That worked out to a jump of 51%. The bio-security revenues in the third quarter stood at $18 million, and the gross profit margin in the segment was 62%. The company reported cash and cash equivalents of $1 billion at the end of the quarter.
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