Healthcare Micro Cap Catches Bid Right Before Opening Bell

Right before Wednesdays open, a health-care stock got bid up roughly five minutes before the opening bell after traders evaluated a press release by the company yesterday afternoon. After market close on Tuesday, BioLife Sciences Inc. (OTCPK:BLFE) announced that it signed a LOI with Health Box LLC to acquire the Arizona-based company.

Biolife Sciences is a commercialization accelerator, licensor and developer of innovative and disruptive technologies for the healthcare, beauty and food and beverage industry sectors. The company's technologies include Antimicrobial Copper Air Filters; Eco-Safe Surface Sanitizer; Eco-Safe Antimicrobial Treatment; Ultraviolet Sterilization; Non-contact Human Temperature Screening; and Next-Generation Vending Machines.

Traders appear to be bullish on the news as shares of this micro cap as shares are bid up at $1.09/share (+5.83% implied open for sellers) at the time of writing. This move could be an indication of things to come in the near future for this stock.