Zeta,
Re: GNBT
The stock has remained on a DownTrend coming from its Jun.24 H at $1.86 As you may recall, that H was made on pretty good volume of 3,899,850 but the stock that day closed below its O.<g> (Data for that day: O=1.74 H=1.86 C=1.53)And $1.53 was the C on the previous day (Jun.23)
Since then the attempted rally in Sep. was cut short at 1.32 and on the last one the H on Jan.4 was 0.98 On Jan.4 the volume was pretty good (1,797.198) and the C & O were the same (o.90) almost midway between the H and the L(0.84)
The stock needs to close above 1.04 before it could test the resistance at 1.20 and the Sep.H at 1.32
As you mentioned,after the conversion of $14.3M of its preferred stock that ELN had into 534,085 common shares, its stockholders' equity now satisfies the minimum required by the Naz for continued listing.<g>
GNBT reportedly has $0.04 in cash/share, a Debt/Equity ratio around 0.25 Insiders hold more than 14%
Its buccal delivery of medications, theoretically makes more sense than trans-pulmonary delivery albeit it doesn't have the longer acting effect of the transdermal delivery. (It also seems to make more sense than the Occusert delivery another of the ideas of Alejandro Zaffaroni.)<g>
In the last 3 Qs the revenues have increased, but they haven't been able to cut the loss as much.<g>
The announcement yesterday that its subsidiary, Antigen received a US patent with potential use for treatment of autoimmune diseases and DM, triggered the up-move yesterday but the volume of 754,139 was not that impressive and way below the volume of Jan.4 when it announced its compliance with the Naz requirements. Today the stock resumed its downtrend and the question is wether it will be able to hold at its Dec.10 L ($0.58)
bigcharts.marketwatch.com
RAGL
Bernard |
