ASP Isotopes Inc. [NASDAQ: ASPI] jumped around 0.01 points on Tuesday, while shares priced at $2.32 at the close of the session, up 0.43%. The company report on November 29, 2022 that ASP Isotopes Inc. Enters into 25-Year Supply Agreement Valued at Up to $27 Million per Annum for Highly Enriched Molybdenum-100.
ASP Isotopes Inc. (NASDAQ:ASPI) (“ASPI”, the “Company”, “us”, “we” or “our”), an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries, today announced that the Company has entered into 25-year supply agreement for highly enriched Molybdenum-100 (Mo-100) with BRICEM (Beijing Research Institute of Chemical Engineering Metallurgy). Mo-100 is used in the preparation of radiopharmaceuticals used in nuclear medicine procedures to diagnose heart disease and cancer, to study organ structure and function, and to perform other important medical applications. The contract has a value of up to $27 million per annum for 25 years and deliveries are scheduled to commence in July 2023. The Company now expects to begin delivering commercial quantities of Mo-100 from Q3 2023 versus previous guidance of “before 2024”. The Company continues to have discussions with BRICEM regarding the production of other isotopes.
It is anticipated that the highly enriched Mo-100 will be used in the production of either technetium-99m (Tc-99m) or Mo-99 in a cyclotron or in a linear accelerator. One hundred seventeen medical institutions in China are equipped with 120 medical cyclotrons, many of which are already capable of using Mo-100 in the preparation of radiopharmaceuticals. During 2019, there were 2.51 million SPECT (Single Photon Emission Computed Tomography) examinations in China, an increase of 19.9% compared to 2017 (1). In 2019 the Chinese Mo-99 market size was estimated to be $94 million and it is estimated to grow to $212 million by 2030 (2).
Compared to the average trading volume of 238.09K shares, ASPI reached a trading volume of 5467496 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about ASP Isotopes Inc. [ASPI]?
The Average True Range (ATR) for ASP Isotopes Inc. is set at 0.53 The Price to Book ratio for the last quarter was 9.21, with the Price to Cash per share for the same quarter was set at 0.08.
How has ASPI stock performed recently?
ASP Isotopes Inc. [ASPI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.57.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The RSI for the last a single of trading hit 40.61. The present Moving Average recorded at 2.35 for the last single week of trading.
ASP Isotopes Inc. [ASPI]: Deeper insight into the fundamentals
ASP Isotopes Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.