Shares of Akers Biosciences Inc. (AKER) leaped over 30% on Monday as the company signed the first distribution agreement for BreathScan OxiChek with Aero-Med, a division of Cardinal Health.
BreathScan OxiChek is Akers’ second generation disposable breath test to rapidly determine levels of oxidative stress (free radicals) in the body.
Aero-Med’s target market for BreathScan OxiChek includes anti-aging, functional and integrative health and wellness treatment practitioners, and it has already placed orders for OxiChek.
Akers’ product Revenue for the three months ended March 31, 2016 was $738,023, representing an increase of 79% over the corresponding quarter last year.
Looking ahead, the company is optimistic that it will materially outperform 2015 in fiscal 2016.
AKER closed Monday’s trading at $2.54, up 32.29%.
Shares of Allergy Therapeutics (AGY.L) dropped to 52-week low on Monday, after the company announced that its exploratory phase II dose-ranging study of GrassMATAMPL was not able to