Rising Biosciences Reports significant revenue growth: Stock Rockets
Rising Biosciences Inc (OTCMKTS:RBII) has been one of the more interesting companies to have emerged in the pharmaceutical space in recent years, and on Friday, the company’s stock soared after it announced its financial results for the second fiscal quarter. The company has three separate business units.
One is a practice management company meant for physicians, while another one is a research and development company involved with oral and topical pharmaceuticals. The third unit offers advanced behavioral health medical treatment for tackling substance addiction. The market welcomed the company’s performance in the second quarter with great enthusiasm, and the stock rallied by as much as 62% afterward.
Considering the handsome gains made by the RBII stock on Friday, it is likely that the stock is going to be in the radars of investors today, and in such a situation, investors need to take a closer look at the company as well. The company announced that it had generated revenues of as much as $350,000 in the second quarter, and that represents strong growth for RBII.
The Chief Executive Officer of the company Arthur Hall stated that the impressive growth in revenues was primarily due to the strong sales generated by the product Oxy Thyme. Hall went on to say that business activities over the course of the past three months have been ‘incredible,’ and the company is currently in the process of building a second bottling plant.
Oxy Thyme is a proprietary system that is aimed at sanitization and disinfection of facilities. It works quickly and is also cost-effective, and hence, the product has generated impressive sales during the coronavirus pandemic. The product is a ‘no-touch solution’ for sanitizing large facilities, and the impressive performance is understandable.
Hall stated that the company created this system with the aim of helping people in these challenging times. The company’s performance in the second quarter results finally saw the bulls taking charge of the stock. As many new shareholders piled on to the stock on Friday, the volumes surged significantly, and higher bids for the RBII stock continued to come in.
The company’s financial performance and the success Oxy Thyme are the primary reasons why the stock rallied so strongly. As another week begins, it is going to be interesting to note if the stock can continue to rally. At the end of the day, it is almost certain that there is going to be a significant interest in the stock from among investors. In such a situation, investors could do well to keep an eye on the stock over the course of the coming days. The performance from RBII during such challenging times seems to have impressed market participants considerably.
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