Mainz Biomed NV (NASDAQ:MYNZ), a molecular genetics diagnostic company specializing in the early detection of cancer, announced that its Nominating Committee and Board of Directors nominated Dr. Heiner Dreismann as Chairman of the Board and Gregory Tibbitts to its Board of Directors. The Company’s Board of Directors intends to call an extraordinary general meeting the week of December 12, 2022, to vote on the nominations. “As we continue to build strength throughout our organization, we are honored to nominate Heiner and Gregory to our Board of Directors, two notable leaders in key areas of the diagnostics field,” commented Guido Baechler, Chief Executive Officer of Mainz Biomed. “The rich experience they would bring to our board, in both strategic development and financial stewardship, will be of significant value as we prepare for our imminent and pivotal US clinical trial for ColoAlert and continue to advance the development and commercialization of our portfolio of next-generation early-cancer detection products.”
So why does MYNZ deserve a spot on traders and investors watchlist?
The company expects its Flagship product ColoAlert to fuels its growth. Earlier in September, MYNZ reported 127% year-over-year increase in ColoAlert revenue. The company also stated in the press release that it has a mid-year cash balance of $26 Million. ColoAlert detects colorectal cancer (CRC) via a simple-to-administer test with a sensitivity and specificity nearly as high as the invasive colonoscopy*. The test utilizes proprietary methods to analyze cell DNA for specific tumor markers combined with the fecal immunochemical test (FIT) and is designed to detect tumor DNA and CRC cases in their earliest stages. The product is CE-IVDR marked (complying with EU safety, health, and environmental requirements). The product is commercially available in a selection of countries in the European Union and in the United Arab Emirates. Mainz Biomed currently distributes ColoAlert through a number of clinical affiliates. Once approved in the U.S., the Company’s commercial strategy is to establish scalable distribution through a collaborative partner program with regional and national laboratory service providers across the country. Mainz is currently marketing ColoAlert through its unique business model of partnering with third-party laboratories for test kit processing versus the traditional methodology of operating a single facility.
MYNZ stock seems to be disconnected from its fundamentals and has pushed lower despite reaching milestones. Considering everything on Wall Street seems to be on the sell side, MYNZ could potentially provide a “Buy the Dip” opportunity for value investors. MYNZ is trading just shy of 7$ compared to its 52 week high of $30 suggesting room for the stock price on the upside.
Other notable stocks in the biotech sector to watch out for are Abbvie (NYSE:ABBV), Legend Biotech (NASDAQ:LEGN), Sarepta Therapeutics (NASDAQ:SRPT), Exact Sciences (NASDAQ:EXAS), Neurocrine Biosciences (NASDAQ:NBIX) and Karuna Therapeutics (NASDAQ:KRTX).
Disclaimer: InvestorBrandMedia is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. Our reports/releases are commercial advertisements and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The information made available in this article is not intended to be, nor does it constitute investment advice or recommendations. The contributors may buy and sell securities before and after any particular article, report, and publication. In no event shall Investor Brand Media be liable to any member, guest, or third party for any damages of any kind arising out of the use of any content or other material published or made available by Investor Brand Media ., including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information in this video, article, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. InvestorBrandMedia.com strongly urges you to conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. For some content, Investor Brand Media, its authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. As part of that content, readers, subscribers, and website viewers are expected to read the full disclaimers and financial disclosures statement that can be found on our website by visiting InvestorBrandMedia.com/Disclaimer. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quotes; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor’s investment may be lost or impaired due to the speculative nature of the companies profiled. Investor Brand Media has been compensated four thousand two hundred and fifty dollars by a 3rd party Bullyzeye Media LLC for content, research, dissemination, and syndication, web push advertisement services pertaining to MYNZ from 09/25/2022 to 09/29/2022. We own zero shares of MYNZ.
Press Release Distributed by ABNewswire.com
To view the original version on ABNewswire visit: Mainz Biomed (MYNZ) nominates two notable leaders in key areas of the diagnostics field to its Board of Directors