Could next week be the week that investors receive the much-anticipated follow-up news to the CE Mark Approval for CytoSorb earlier this year?
Shares of CTSO recently fell below the twenty cent mark, and volume has become relatively flat in the meantime.
The last couple of hours of trading on Friday were worth noting, however, as both price and volume picked up for a short spurt that will lead some to wonder what next week will bring.
Volume wasn't huge by any means, but when the volume picked up, so did the price.
Secondary endpoints and/or news of a partnership are what should be coming next for Cytosorbents, and developments from either or both could significantly boost the CTSO share price.
Positive secondaries will be telling as to how much CytoSorb can penetrate the market, and the more positive those developments are, then the more that the company would be able to pull in from partnerships.
For those predicting a positive follow-up to the approval news, the sub-twenty-cent prices would have come as an opportune time to add shares.
Keep an eye on this one next week, as we may be back into the zone where increasing volume also means increasing price.
A little news could provide the spark that fuels the next run.
Disclosure: Long CTSO.
