Boston, MA, 06/19/2013 (nysepost) - The share prices of CombiMatrix Corporation (NASDAQ:CBMX) had surged by 16.14 percent to close at $2.95 per share for the end of last trading session on Tuesday. The shares of the company had been trading in the range of $2.83 to $3.19 per during the day, which had pushed the company to hit new peaks. The shares of CombiMatrix Corporation (NASDAQ:CBMX) had a market capitalization of $8.21 million. The stock opened at $2.89 per share.
CombiMatrix Corp. (NASDAQ:CBMX) said its volumes of prenatal testing have shown a significant uptick since data from two National Institutes of Health studies showed the value of chromosomal microarray analysisCombiMatrix Corporation is a molecular diagnostics company that operates primarily in the field of genetic analysis and molecular diagnostics through its wholly owned subsidiary, CombiMatrix Molecular Diagnostics, Inc.
The larger study (published in conjunction with the National Institute of Child Health and Human Development [NICHD]), which had over 4,400 patients enrolled, was published in the New England Journal of Medicine (NEMJ) in December 2012 and presented at the annual meeting of the Society for Maternal-Fetal Medicine in February, concluded that CMA identified additional clinically significant genetic abnormalities compared to traditional karyotyping when testing prenatal samples. CombiMatrix is the only publicly-traded company that specializes in CMA.
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CombiMatrix Corp. (NASDAQ:CBMX) had witnessed the trade of 1.53 million shares on Tuesday, while the average trading volume for the company is at 179,745 share per day. The company presently holds 2.78 million shares outstanding in the market with an institutional ownership of 16 percent of its holdings.