Akers Biosciences Inc (NASDAQ: AKER): “How will rapid cholesterol test relate to potential revenue?”

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Akers Biosciences Inc (NASDAQ:AKER) develops and manufactures rapid screening and testing products designed to provide health care professional and consumers with quick and cost-effective health care information.


Akers has three lines generating revenue including Clinical Diagnostics, Safety Diagnostics & Wellness. Under these segments, it is developing proprietary, diagnostic technologies that increase the frequency at which clinicians, and in some cases consumers, can get accurate health information and has a number of products in the portfolio. Aker is focusing on gaining a meaningful market share in its segments, although it faces intense competition from traditional products.


Aker recently announced that it received an initial order for the Company’s rapid cholesterol self-test from First Check Diagnostics, LLC (“First Check”), the exclusive distributor for this product in the United States, for sale under their popular “First Check” brand.


As per management, this order is a great endorsement of its rapid testing technology & they are extremely bullish on having this over-the-counter health and wellness product on the shelves of major US retailers under the distinguished First Check brand.


The sales of the Company’s flagship products are already on an upward trajectory and with this recent development; Aker is likely to witness strong demand for rapid testing technology as well.


Point-of-care diagnostics is a multi-billion dollar health care market that is well poised for robust growth over the near to medium term and with over 73 million adults in the US deemed to have high bad cholesterol; Aker should have a strong order book & opportunities around rapid cholesterol test. The company is aggressively focusing to building this revenue stream with its distribution partner and providing consumers with a fast, convenient and meaningful way to evaluate and manage their cholesterol.


About the Company:

Akers Bio develops, manufactures, and supplies rapid screening and testing products designed to deliver quicker and more cost-effective healthcare information to healthcare providers and consumers. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies.


The Company commenced research and development operations in September 1989, and until 2005 had devoted substantially all its efforts to establishing the new business.


The Company’s state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. The Company has aligned with major healthcare companies and high volume medical product distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics.


Recent update:

The company recently announced that its rapid, cholesterol self-test would soon be on the shelves of major US retailers under the First Check brand after it received a first order from First Check.


About First Check: First Check Diagnostics is Aker’s exclusive distributor in the US. It will sell the product under its “First Check” brand, through US retailers such as CVS, Rite Aid, Target, Kmart and others.


Unique differentiating factors of Tri-Cholesterol:  The Tri-Cholesterol “Check” test is disposable, uses just a finger-stick blood sample and gives a result in only 5 minutes. The test has FDA 510(k) clearance in the United States; as well as a CE mark for the European Economic Area.


Potential market: According to the United States Centers for Disease Control and Prevention, 73.5 million adults (31.7%) in the United States have high ‘bad cholesterol’ and less than 1 in every 3 of them has the condition under control. Too much cholesterol puts people at risk for heart disease and stroke, two leading causes of death in the United States. However, with responsible actions such as self-testing with Akers Bio’s Tri-Cholesterol “Check” test, people can take steps to manage their cholesterol levels and lower their risk.


Other announcements:

US Patent for Akers Wellness(TM) Tests Cartridge:  Previously, during Feb’17, Aker announced that the United States Patent and Trademark Office has allowed a patent covering Akers Bio’s proprietary cartridge for the optical scanning device utilized in the Company’s BreathScan Lync™ technology.


OxiChek™ is now fully commercialized and selling through the Company’s distributor, Aero-Med, to anti-aging, functional and integrative health and wellness treatment practitioners in the US.


The Company looks forward to providing further updates on the commercialization progress of Akers Wellness™ tests during 2017.

Agreement with GNYHA Services: Additionally, the company has also signed a three-year agreement with the Greater New York Hospital Association (GNYHA) to introduce the Company’s flagship rapid tests for heparin-induced thrombocytopenia across GNYHA’s network of over 300 member hospitals and health systems.

In fact, Aker experienced strong growth from flagship PIFA Heparin/PF4 Rapid Assay product sales without any contribution from China in Q3 2016


Closing of Public Offering: In order to fund the incremental working capital requirement, Aker recently raised $2,147,400 through public offering. The funds raised will be used for working capital as well as to accelerate growth in the US and in international markets, further develop new customers and launch new diagnostic products.


Risk Factors & Key Stock Influences:

The company’s ability to expand the domestic and international distribution of its PIFA Heparin/PF4 rapid assays, along with meaningful, commercialization of health and wellness product line is a critical business sensitivity factor.  Aker’s business might take a substantial hit, if it fails to capture significant market share or interest of the health care community with its Heparin test or other products.

Company’s liquidity is impinged by continued negative cash flows/profitability and large incremental working capital requirement. Therefore, its ability to substantially improving its profitability would remain a critical operational challenge for the company.

The company has announced several positive developments in the recent past & should the company come out with better than expected guidance or experience another positive development, the stock could react positively.

As per recent projections, working capital situation of Aker is expected to remain comfortable for next 12 months. However, given the fact that the company is still under development stage & is continuously burning cash, any material time or cost overruns in its ongoing & future project could result in the possible inability of the Company to continue as a going concern.

Earnings Review:  Akers’ revenue for the three months ended September 30, 2016 totaled $613,198, a 262% increase from the same period in 2015. The table below summarizes our revenue by product line for the three months ended September 30, 2016 and 2015 as well as the percentage of change year-over-year:

Profitability: For Q3 – 2016, Aker’s gross margin improved significantly, rising to 61% (2015: (5)%) for the three months ended September 30, 2016. The improvement is attributed to higher selling prices for the PIFA Heparin PF/4 Rapid Assay products; improved volumes and a significantly different component mix for the MPC products and the continued implementation of the new inventory and cost management procedures.
Cash Flow & Balance Sheet: At September 30, 2016, Akers had cash of $195,860, working capital of $2,537,197, and stockholders’ equity of $4,470,500 and an accumulated deficit of $96,383,706. The Company believes that its current working capital position will be sufficient to meet its estimated cash needs for at least the next 12 months.



Stock Performance:

On Wednesday, March 29th, 2017, AKER shares increased by 67.86% to $2.35 on an average volume of 78,294.00 shares exchanging hands. Market capitalization is $9.97 million. The current RSI is 86.67

In the past 52 weeks, shares of Aker have traded as low as $1.15 and as high as $3.70.


At $2.35, shares of Aker are trading above their 50-day moving above their average (MA) at $1.28 and just below their 200-day MA at $2.37


The present support and resistance levels for the stock are at $1.8 & $2.90 respectively.






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