Skinvisible Surges on H1N1 Prospects & Breakout
Skinvisible Inc. (SKVI) shares jumped more than 75 percent in early trading after its DermSafe hand sanitizing lotion has been proven effective in killing the H1N1 virus.
Skinvisible Inc. [[SKVI.OB]] saw its shares jump more than 75 percent in early trading after studies conducted by Retroscreen Virology of London demonstrated that its DermSafe hand sanitizer inactivated/killed 99.99% of the H1N1 influenza A virus. As a result, the spread of this virus has helped increase the company’s efforts to globally license the sanitizing lotion.
Last month, the World Health Organization classified the virus as a Phase 6 threat, stating that it is easily contagious and can easily spread from one person to another. Meanwhile, nearly 100,000 cases of the virus have been confirmed in over 70 different countries. In the U.S. alone, it is estimated that more than one million people are affected by the virus in the summer months.
Technical analysis also shows a clear breakout in Skinvisible’s stock from its prior trading range. Support levels are at around $0.12 per share, while the stock’s next major resistance level is at $0.24 – a 100% move higher from the original breakout level.
In the end, Skinvisible’s licensing prospects have improved as the H1N1 virus spreads throughout the world and winter approaches. Meanwhile, the stock’s breakout on a technical level has added momentum to the move higher.
CONTACT: Daniel Minton, Managing Director, 406-862-5400, daniel@accelerize.com