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  • Time For Breakout In Combimatrix 0 comments
    May 1, 2013 2:56 PM

    Today, Combimatrix announced the following:

    CombiMatrix Corporation (Nasdaq:CBMX) announced today that it will release its first quarter 2013 financial results on Wednesday, May 8, 2013. Results will be released prior to trading on that day.

    A conference call has also been scheduled regarding CombiMatrix Corporation's first quarter 2013 financial results. The presentation and Q&A session will start at 8:00 a.m. Pacific Time (11:00 a.m. Eastern) on May 8, 2013.

    So their financial results will finally come to play. Why is this important? It is because their revenues for their prenatal testing will finally start to kick in. Last quarter, CBMX went to as high as $6.00 PPS but fell back to earth when the numbers didn't impress. The reason why they didn't impress because the revenues for prenatal testing won't be in their earnings until THIS quarter.

    That's right, this may be the quarter that it will finally breakout.

    In the beginning of the month, Combimatrix announced some preliminary results of the prenatal testing:

    Co announced that it expects to report record volumes of prenatal testing in the first quarter ended March 31, 2013. Preliminary quarterly growth rates of 124 percent over the first quarter of 2012 were achieved for billable prenatal tests. The co also announced that it was expanding its technology offerings to continue to capture market share and serve the expanding volumes. By recently incorporating Single Nucleotide Polymorphisms (SNPs) in its array testing, the Company has significantly expanded its ability for studying variations between whole genomes, which is crucial in providing resolution to its customers. Overall billable testing volumes at the Company, including its de-emphasized oncology segment, were also up strongly in the period, growing 25 percent in the quarter over 2012.

    This is VERY significant, as this would boost their revenues to approximately
    $50 million.

    The current market cap is about 10 million. This is a no brainer here, the target PPS if they hit their numbers will be as high as $10 PPS

    Disclosure: I am long CBMX.

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