From Volume Spike Investor
Shares of RITA Medical Systems(RITA) rose almost 3% on Friday as volume spiked 140% above the 3-month daily average.
There were no significant news releases or other significant events that could be detected.
RITA Medical engages in the development, manufacture, a
nd marketing of products that use radiofrequency energy to treat patients with cancerous or benign tumors.
The company carries more debt ($9 million) than it holds in cash ($6 million).
Sales have been increasing substantially over the last three years, but net loss has not improved.
Shares of RITA Medical closed at $4, almost 14% away from the 52-week high of $4.65
RITA Medical Systems has made VSI’s Watch List.
