Shares of Viaderma Inc (OTCMKTS:VDRM) gapped up this morning on heavy volume.
Market Action
As of 10.01 AM, VDRM is moving up by 30.76% to $0.204. Volume was 31.30 million shares, above its 30-day daily average volume of 27.99 million shares. The stock opened at $0.0178 and moved in a range of $0.0177-$0.0250. Potential Pivot points to keep an eye on are .0211 .026 and .034 above and .0138 .0121 and .004 below.
VDRM To Finalize An Initial Order
ViaDerma released news before the market opened. Here are the key highlights:
- They are nearing the end of their discussions with a major healthcare network to finalize an initial order for the Company’s wound care product, Vitastem.
- Once the initial purchase order is complete, Vitastem is expected to be incorporated into hundreds of hospitals, nursing homes and hospices with the network.
- The Company is also in the process of entering into an additional licensing agreement with another party interested in licensing ViaDerma products.
- Under the agreement ViaDerma receives $5000 per month for each state.
“We are very pleased with the progress our marketing team is making towards finalizing this initial order,” said Dr. Chris Otiko, ViaDerma President and CEO. “Once complete this will be the largest single order for Vitastem to date.”
Trader Notes
Today’s price action is sure to put VDRM on watch lists today. The heavy volume and price spike may attract momentum players. Pay attention to see if VDRM can hold these gains going into the close. It may provide a hint as to what will happen going forward.
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