I've been bullish on GenMark (NASDAQ:GNMK) for a while, but that hasn't always (or even often) been a particularly easy or rewarding position to hold. The shares bounced between $9 and $14 for the first year or so after my first piece on this small diagnostics company and slid down to below $5 in the following year before starting a climb this year that peaked at over $13.
The reason for the quick turnaround in sentiment isn't hard to find - the company finally got its CE Mark for its new ePlex system, and with that laid to rest most of the lingering concerns about system reliability. The company still needs to submit its application to the FDA and actually launch the device, but the company's path to $500 million-plus in sales now looks more "when" than "if" than it has in a very long time.
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GenMark Has Put A Lot Of Doubts To Rest, But There's Still More Work To Do