Nanogen Jumps on GSA Contract
by Jon C. Ogg
24/7 Wall St.
Nanogen, Inc. (NGEN-NASDAQ) is seeing shares up 25% pre-market after it announced this morning that it has obtained a United States Government Service Administration (GSA) Schedule contract for its NanoChip 400 microarray instrument and reagents. The contract enables Nanogen to be listed on an approved GSA Schedule and sell its NanoChip products directly to government agencies such as the National Institutes of Health, military hospitals and Veteran's Administration hospitals. Nanogen's inclusion as a GSA Schedule Vendor allows government customers to obtain approved pricing and license terms from a pre-qualified vendor.
Government agencies typically have separate GSA and non-GSA budgets, and therefore inclusion as a GSA vendor allows Nanogen broader access to government customers' budgets. This is actually a stock that was barely above the 52-week lows ($1.21 to $2.93 yearly trading range) and it has seen pre-market trading of more than 500,000 shares (close to full day of trading volume). The market cap on this name was only $91 million before this pop today.
Source: 247WallSt.com
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24/7 Wall St.
Nanogen, Inc. (NGEN-NASDAQ) is seeing shares up 25% pre-market after it announced this morning that it has obtained a United States Government Service Administration (GSA) Schedule contract for its NanoChip 400 microarray instrument and reagents. The contract enables Nanogen to be listed on an approved GSA Schedule and sell its NanoChip products directly to government agencies such as the National Institutes of Health, military hospitals and Veteran's Administration hospitals. Nanogen's inclusion as a GSA Schedule Vendor allows government customers to obtain approved pricing and license terms from a pre-qualified vendor.
Government agencies typically have separate GSA and non-GSA budgets, and therefore inclusion as a GSA vendor allows Nanogen broader access to government customers' budgets. This is actually a stock that was barely above the 52-week lows ($1.21 to $2.93 yearly trading range) and it has seen pre-market trading of more than 500,000 shares (close to full day of trading volume). The market cap on this name was only $91 million before this pop today.
Source: 247WallSt.com
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posted by Nico at
5:23 PM
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