CORAL GABLES, FL / ACCESSWIRE / February 13, 2018 / Medical, biotech, and pharmaceutical stocks have been trending higher since President Trump came into office. In his first year following the inauguration, the stock market performed has seen the S&P 500 index rising 23% and the Dow Jones Industrial Average gaining over 30%. Despite the recent pullback that it saw last week, share prices have begun to rebound amid more bullish sentiment.
As the markets continue to rebound, two medical related stocks have begun to trend after releasing news on Tuesday and include the likes of Lexington Biosciences (OTCQB: LXGTF) as well as ImmunoCellular Therapeutics (NYSE American: IMUC).
Lexington Biosciences ("LXGTF")
Market Cap: $11.98M, current share price: $.35
LXGTF is a development-stage medical device company whose HeartSentry 1st generation product has successfully passed all requisite bench tests in preparation for upcoming clinical trials. The HeartSentry product tracks cardiovascular health diagnostics through the measurement and monitoring of a patient's vascular endothelium, which is the vital innermost lining of the cardiovascular system.
The initial production run units are all slated for the upcoming trials and, with the conclusion of bench testing this week, they have been shipped to the investigative clinic. Shares of Lexington Biosciences have been on an upward trend since February 6 and have already managed to see highs of over $0.35 this morning. In December, the company saw its shares reach highs of nearly $0.50.
ImmunoCellular Therapeutics ("IMUC")
Market Cap: $7.99M, current share price: $.27
This morning, IMUC announced that during the fourth quarter ended December 31, 2017, the Company received approximately $5.77 million of gross proceeds from the exercise of warrants.
Anthony J. Gringeri, Ph.D., President and Chief Executive Officer of ImmunoCellular, said, "I am extremely pleased we have secured an additional $5.8 million of capital during the fourth quarter, which significantly strengthens our Company's financial condition. We have received approximately 88%, or $7.9 million, of the potential $9.0 million in net proceeds from the exercise of warrants and are optimistic about receiving the remaining $927,000 available from the Series 3 warrants which expire in July 2018."
Shares of IMUC traded higher on Tuesday after hitting a price of $0.295. This was higher than its previous closing price by 30%.
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