The health-care sector stood out Tuesday, with two companies commanding attention.
In New York, the health-care sector was flat, while their Canadian cousins dropped 0.9%.
Miami-based Cansortium Inc. (OTC: CNTMF), priding itself on being a vertically-integrated provider of premium-quality medical cannabis, trotted out first-quarter financial results, which may have by now caught the fancy of small-cap investors.
The company reported a hike of 84% in consolidated revenue to $10.2 million. It also reported consolidated income from operations totaled $2.4 million, compared to loss from operations of $12.5 million.
Executive Chairman Neal Hochberg enthused, "During the first quarter of 2020 we continued to make significant improvements to the business and achieved positive quarterly Adjusted EBITDA for the first time in the Company's history, driven by strong revenue growth and tightly focused operations.
“We believe that revenue growth and profitability will continue to strengthen through the remainder of 2020."
Share prices galloped 12.4% to 35.08 cents shortly after noon EDT, on volume of 32,000 shares.
On the Canadian side of the border, Brossard, Quebec-headquartered Diagnos Inc. (TSX Venture: ADK), the company calling itself a leader in early detection of critical health issues using advanced Artificial Intelligence (AI), says its client, Chaparral Medical Group, is reopening amid additional safety extra measures being implemented to address the COVID-19 situation.
According to the company’s medical director, Dr. Prasad Jeereddi: It only takes five minutes to perform the screening test. It prevents the need for the diabetic patient to get their eyes tested in a different location. Chaparral operates 33 clinics across the state of California. Diabetic patients are vulnerable to COVID-19 and the convenience of the test in our clinic reduces the risk for COVID-19 exposure.”
Shares sprouted 1.5 cents, or 10%, to 16.5 cents Tuesday, on 110,000 shares.
