Benzinga | Aug 24, 2020 03:42PM EDT

Why Cancer Genetics Is Trading Higher Today

Cancer Genetics (NASDAQ:CGIX) shares are trading higher on Monday after the company announced the entry into a definitive merger agreement with StemoniX.

Cancer Genetics is in the early stage of precision medicine, enabling individualized therapies in the field of oncology through diagnostic products and services and molecular markers. The company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment.

It also enables biotech and pharmaceutical companies to select candidate populations and reduce adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics. The company derives most of its revenue from the United States.

Cancer Genetics shares were trading up 130.24% at $6.70 on Monday during the time of publication. The stock has a 52-week high of $10.39 and a 52-week low of $1.92.