BEIJING, Nov. 15, 2011 /PRNewswire-Asia-FirstCall/ -- China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED), a leading China-based advanced in-vitro diagnostic ("IVD") company, today announced that it has made the payment for all outstanding principal and accrued interest with respect to its 3.5% Convertible Senior Subordinated Notes (the "2011 Notes") which matured on November 15, 2011. All of the outstanding 2011 Notes will be cancelled accordingly. None of the 2011 Notes were converted into shares of the Company. About China Medical Technologies, Inc. China Medical Technologies, Inc. is a leading China-based advanced IVD company using molecular diagnostic technologies including Fluorescent in situ Hybridization (FISH) and Surface Plasmon Resonance (SPR) and an immunodiagnostic technology, Enhanced Chemiluminescence Immunoassay (ECLIA), to develop, manufacture and distribute diagnostic products used for the detection of various cancers, diseases and disorders as well as companion diagnostic tests for targeted cancer drugs. The Company generates all of its revenues in China through the sale of diagnostic consumables including FISH probes, SPR-based DNA chips and ECLIA reagent kits to hospitals which are recurring users of the consumables for their patients. The Company sells FISH probes and SPR chips to large hospitals through its direct sales force and ECLIA reagent kits to small and mid-size hospitals through distributors. For more information, please visit http://www.chinameditech.com. ContactWinnie YamTel: 852-2511-9808Email: IR@chinameditech.com SOURCE China Medical Technologies, Inc.
Shares of China Medical Technologies (Nasdaq:CMED) were gapping down Tuesday morning with an open price 65.9% lower than Monday's closing price. The stock closed at $1.82 yesterday and opened today's trading at 62 cents.
Shares of China Medical Technologies (Nasdaq:CMED) were gapping down Friday morning with an open price 30.2% lower than Thursday's closing price. The stock closed at $3.67 yesterday and opened today's trading at $2.56.
Shares of China Medical Technologies (Nasdaq:CMED) have taken a tremendous swing upward. The stock is trading at $3.12 as of 11 a.m. ET, 21.4% above Tuesday's closing price of $2.57. Volume is at 1.4 million, 3.6 times the daily average of 375,600.