Check-Cap Ltd. (NASDAQ:CHEK) stock is on the rise Monday despite a lack of news concerning the company.
Shares of CHEK stock are skyrocketing alongside heavy trading. As of this writing, more than 151 million shares of the stock have changed hands. That’s quite the spike from the company’s average daily trading volume of 2.62 million shares.
So why exactly is CHEK on the move today? The most recent news from the company comes from Dec. 30. At this time, it was given notice of a 180-day extension to regain Nasdaq Exchange compliance. That gives the stock time to push above the $1 minimum required to list on the market.
Keeping all of this in mind, let’s take a look at what investors need to know about Check-Cap Ltd. before investing in CHEK stock.
- Check-Cap Ltd. is a company that creates a screening device for colorectal cancer.
- The goal is to find polyps before they possibly transform into cancer.
- It does this through its C-Scan medical device, which is the only preparation free test able to do so.
- C-Scan is a capsule that the patient takes and it passes through their body normally.
- While doing so, it scans the walls of the gastrointestinal tract and relays the information to the tracking system worn on the person’s back.
- This data is then sent to physicians and can be used to create 2D and 3D maps of the person’s inner surface of the colon.
CHEK stock was up 160% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.