Cardio Diagnostics Secures Coverage for Precision Heart Tests with Atlas Healthcare Physicians
CDIO has more than doubled off its 52-week low of $0.97 on light trading volume (0.3× avg).
Summary
Cardio Diagnostics announced that Atlas Healthcare Physicians, an independent physician association in Los Angeles and Orange counties, will now cover its Epi+Gen CHD(TM) and PrecisionCHD(TM) tests for eligible members, subject to prior authorization. This is a positive development for a company that reported extremely low Q1 revenue of just $2.68K and increased losses. Expanding coverage for its precision cardiovascular tests is a critical step towards commercialization and increasing sales for the micro-cap company.
At the time of this announcement, CDIO was trading at $2.04 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $6M. The 52-week trading range was $0.97 to $7.91. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: FinanceWire.