Health Discovery Corporation (OTCBB: HDVY, HDVY message board) added 20% on Wednesday as the management provided an intra-quarterly update. The stock price had been on a short term downtrend before and this update might provide the necessary push for slight correction.
From the looks of it, their collaboration agreements on new drug developments are going quite good and have already provided some results. A good update on what's going on with the company, but not too valuable from the material perspective.
The management stated their recent fund raising has been "going extremely well" but didn't provide any numbers. As for their income generation, it looks like things will not be changing soon. They will be counting on royalties as their income source for the nearest time to come.
The finalization of image processing development on PAP Smear interpretation test is one of the more promising things in this update. So is the undergoing discussion for commercialization of their colon cancer molecular diagnostic test. But, yet again, no dates or calculated potential revenues from such, would be, sales were disclosed.
Basically, what we will be seeing in their upcoming financial statement is somewhat increased cash reserves. Until there is more significant news on product development or commercialization the stock price won't be making such huge moves as it did on announcement of partnership agreements back in early October.
User comments
Follow the discusion about Health Discovery Corporation in the forum