Trovagene, Inc. ($TROV) Stock | Stock Rises On New Partnership Agreement with America’s Choice Provider Network

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Trovagene, Inc. (NASDAQ: TROV)

 

 

Trovagene, Inc. (TROV), a molecular diagnostic company yesterday announced a partnership with America’s Choice Provider Network. The agreement states that Trovagene will give the health provider network access to its circulating tumor (ct) DNA Precision Cancer Monitoring tests and services.  Trovagene will become America’s Choice Provider Networks preferred provider and its PCM testing will be covered by over 1,700 payers in North America.

 

Trovagene, Inc. Chief Commercial Officers Comments

“We are pleased that ACPN has agreed to provide coverage for Trovagene’s PCM full offering of ctDNA products,” said Matt Posard, chief commercial officer of Trovagene. “Our commercial plan is on track to provide national sales coverage, and ACPN is the first of several additional contracts expected this year. In support of our commercialization program, we are creating a strong foundation of data from our clinical studies and manuscript publications demonstrating the medically actionable use of Trovagene’s liquid biopsy platform in the treatment of cancer.”  PR Newswire

 

TROV Technical Analysis

TROV Chart

TROV gapped up in price yesterday to $3.96, up from the prior day’s close of $3.35, which is a 12% increase in price. Taking a look at the daily chart, we can see the last time TROV traded above this price level was on January 11th when it traded at $4.00. Taking a further look down the daily chart we can see that TROV has been on an overall decline dating back to June 12 when it was trading at its 52 week high price of $13.58. As of late afternoon trading on Thursday TROV stock is trading at $5.39, or equivalent to a 61% increase in price. The next possible resistance level for the stock would be the $5.80 price level. There was a  triple top formation at $5.80 reached on December 16th,18th, and 24th. TROV has a float of  23.62 million shares and is trading over 13 times the normal daily trading volume. TROV opened up near the pre market highs of $4. For trading purposes, I would like to see the stock close above $5 and then see if it can make the run through $6 on Friday.

 

Company Profile

Trovagene, Inc., a molecular diagnostic company, focuses on the development and commercialization of proprietary urine-based cell-free molecular diagnostic technology for use in disease detection and monitoring across various medical disciplines. The company intends to enhance the treatment outcomes for cancer patients through its proprietary technology to detect and quantitatively monitor cell-free DNA using urine or blood samples. It is developing PCM BRAF and KRAS mutation detection tests for detecting mutations in metastatic cancer patients; and HPV HR detection test to detect the presence of various HPV genotypes using a urine sample. The company was formerly known as Xenomics, Inc. and changed its name to Trovagene, Inc. in January 2010. Trovagene, Inc. was founded in 1999 and is headquartered in San Diego, California.  Yahoo Finance

 

 

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