Furthermore, the heavy volume in the stock has pushed shares up 22.7%.
BARD1 is a biotechnology company developing non-invasive cancer diagnostics.
Earlier this week, the company received additional positive results from the application of its BARD1-Ovarian test.
Testing confirmed high accuracy for detection of ovarian cancer with 89% sensitivity and 82% specificity.
Commercialising the company’s diagnostic test
BARD1 is currently in discussions with a number of contract laboratory organisations to transfer its work to date to a commercial platform.
This will enable the BARD1 tests to be performed by most hospital and independent clinical laboratories around the world.
Opportunity the ovarian cancer market presents
The global ovarian cancer diagnostics market was valued at US$7.2 billion in 2013.
It was expected to grow at 7.2% annually to reach US$11.8 billion by 2020.
There is a clear unmet clinical need for non-invasive, accurate and affordable diagnostic tests for the early detection and monitoring of ovarian cancer.