The sensational surge in share price continues for Implant Sciences (IMSC.PK). Shares broke through the $1.50 barrier on Thursday after a flow of solid news over the past couple of weeks ignited a run that started out at well below a dollar. In fact, those looking back just a few months will realize that IMSC has well more than doubled during that time frame.
Although an expected approval of Implant's Quantum Sniffer (QS) explosive trace detection (ETD) technology by the US Transportation Security Administration (TSA) in August is what has piqued investor interest over the past weeks - and convinced some of the shorts to start covering - a slew of new hirings and additions to the advisory board has lent this small company the validation that many investors were waiting for.
Another round of validation was presented on Wednesday when it was announced that Implant Sciences was featured on the front cover of the June edition of the Government Security News (GSN). The article, titled "U.S. Based Company Positioned to Become Global 'Player' in Explosives Trace Detection," highlights Implant's growing influence in the homeland defense sector thanks to the company's ground breaking ETD technology that utilizes no radioactive particles to detect explosives and is proving to be a superior product to anything else currently on the market.
Also highlighted is the management and advisory team that is now in place to launch Implant to the next level. As a vote of confidence, the article states that, "One security observer told GSN that he considers Implant Sciences to be one of the best managed small technology companies around."
Such statements bode well for a company preparing to land some pretty hefty contracts, should the TSA approve the QS technology within a couple of months.
Investors took quick note of the piece by GSN author, Jacob Goodwin, as IMSC shares were trading as high as 17% higher before noon. With the TSA approval looking more and more likely with every key news item to hit the wires, investors may be starting to see Implant as the real deal in global defense.
As noted by company CEO Glenn Bolduc in the article, Implant's next-generation ETD technology could quickly fill the current gaps in airport and air cargo screening. For instance, cases such as the underwear bomber slipping through security become much less of a risk if Implant's technology is utilized, because it's the explosives that the Quantum Sniffer will detect, not the shapes or metallic structures for which the standard current x-ray machines and/or metal detectors search.
Add to that the quick "clear down" time for the QS, meaning the device is ready to work again within seconds, and it's obvious why Implant has a leg up in the market and is garnering an increased amount of attention these days.
One of the more exciting stocks these days based on the recent run and potential based on pending catalysts, there still may be even more room to run higher, should those potential catalysts play out to the positive.
Keep an eye on Implant. Shares closed at just under the high of the day on Thursday.
Disclosure: I am long IMSC.PK.