Spectral Medical (TSE:EDT) Hits New 1-Year Low – Here’s What Happened

Spectral Medical Inc. (TSE:EDT) shares hit a new 52-week low on Monday. The company traded as low as C$1.09 and last traded at C$1.18, with a volume of 13,200 shares traded. The stock had previously closed at C$1.07.

Spectral Medical Trading Up 10.3%

The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 26.03. The business has a 50 day moving average of C$1.24 and a 200-day moving average of C$1.33. The stock has a market cap of C$346.39 million, a PE ratio of -9.83 and a beta of 0.93.

Spectral Medical Company Profile

Spectral is a Phase 3 company seeking U.S. FDA approval for its unique product for the treatment of patients with septic shock, Toraymyxin¿ (‘PMX’). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s FDA cleared Endotoxin Activity Assay (EAA¿), the clinically available test for endotoxin in blood. PMX is approved for therapeutic use in Japan and Europe, licensed by Health Canada, and has been used safely and effectively with over 360,000 units sold worldwide to date.