Polydex Pharmaceuticals Limited (OTCMKTS:POLXF) Stock Is Stable After The recent Fall
Polydex Pharmaceuticals Limited (OTCMKTS:POLXF) is moving in a range after announcing an agreement with Termanox Water Treatment Solution to use native dextran products.
Market Stats
On Thursday, POLXF stock ended flat at $1.06 with more than 1.1K shares, compared to its average volume of 1.1k shares. The stock has moved within a range of $1.0600 – 1.0600 after opening trading at $1.06.
Polydex Pharmaceuticals Announces Collaboration with Termanox Water Treatment Solutions for novel use of Native Dextran
Termanox is a Dutch company that has created a patented cooling water treatment named Blueterm for deployment in power plant cooling sites and in industrial water applications. The patent is focused on the synergies of an easily decomposable biocide and a dextran-based chemical. Termanox has established that Polydex’s native dextran offers optimal synergy following considerable research and testing.
The company’s CEO George Usher said they are ecstatic to have been a part of such a significant environmental endeavor. He added that they have been seeking for alternative markets for their current products, and the new application is an exciting development for the company and Termanox. Termanox business development director Stefan Spaas stated that Blueterm is a result of years of experience, and the company is looking to solve all cooling water-related challenges. So, POLXF is worth watching in the coming days.
Key Quote
“We are so pleased to have been involved with such an important environmental initiative,” said George Usher, President and CEO of Polydex, adding that “we have been looking for new markets for our existing products and this new application is a very rewarding development for us, and for Termanox.”
Traders Corner
POLXF stock is above the 20-Day and 50-Day Moving averages of $0.9731 and $0.9729 respectively. The stock is trading in the neutral zone with the RSI at 66.
