Green energy, healthcare and technology innovator Dalrada Corporation (OTCMKTS:DFCO) has had a pretty harrowing time in the markets over the past month as it saw its stock clock declines of as much as 40% during the period.
Trading Data
On Monday, DFCO stock fell 0.73% to $0.4618 with more than 171K shares, compared to its average volume of 122K shares. The stock moved within a range of $0.4300 – 0.5000 after opening trade at $0.4676.
Dalrada Health’s cerVIA™ Test Kit Enables Immediate Results with Second Cervical Cancer Screening Study Amid COVID-19 Restrictions
That being said, the company was in fact in the news yesterday after it announced that it had successfully completed a second clinical trial of its product cerVIA. While it is true that the product is still at a patent pending stage, it ought to be noted that cerVIA is actually kit that is meant for screening cervical cancer. At this point in time, the product is being tested in India, where cerVIA is providing its preventive measure services to as many as 100 women.
In this context, it is also necessary to point out that the clinical study into the product had been delayed severely due to the effects of the COVID 19 pandemic. Cancer screenings had been stopped as a preventive measure and that had come as a considerable setback for Dalrada. The latest announcement may be seen as a positive one by investors and it now remains to be seen if the stock can actually make a recovery in the coming days.
Key Quote
Dr. Payal Keswarpu, Dalrada Health’s Chief Medical Officer, who led the cervical cancer screening study, shares, “Innovative tests and healthcare delivery can help restart screening services to reach the goal set by the WHO, to eliminate cervical cancer by 2030.”
Technical Data
DFCO stock is trading below the 20-Day and 50-Day Moving averages of $0.53 and $0.55 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.52.
