Cellceutix Corp. (OTCQB: CTIX) used an executive order signed Sept. 18 by President Obama committing $20 million for the detection of drug-resistant bacteria infections as a backdrop to underscore the relevancy and commercial potential of its new antibiotics.
"We have the tools and will rise up to the challenge to prevent antibiotic-resistant bacteria from becoming a serious threat to public health," the company said in a statement.
This could be one of the contributing factors that fueled the Beverly, Mass.-based pharmaceutical company's robust share volume of 462,219 on Sept. 19, surpassing its 30-day average volume of 417,670 shares.
Share Value Hits 52-Week High
Cellceutix's uptick in both volume and value began Sept. 11.
Although its Sept. 19 closing share price of $2.29 was down 8 cents from the previous day's close of $2.37, this comes only two days after Cellceutix's share value hit its 52-week high of $2.42 on Sept. 17.
Some industry observers believe that Obama's executive order and the potentially positive data from Cellceutix's Phase 2b trial of its antibiotic Brilacidin, which treats skin infections, will help to accelerate the approval of the company's entire portfolio of antibacterial drugs.
"It's no longer a world-class antibiotic drug [Brilacidin], but a world-class platform to fight serious public health threats," Cellceutix's CEO Leo Ehrlich, said in a statement timed with the White House's announcement.
Latest 10Q Released
On Sept. 15, CTIX also released its latest 10Q covering the period ending June 30.
Here's a summary:
- Cash: $5 million
- Current assets: $5.5 million
- Current liabilities: $9.6 million
- No revenue
- Annual net loss: $8.2 millionThe 10 Q shows that the biopharmaceutical is not yet making money and could run into a cash-flow problem in funding the approval of its myriad of new antibiotics. However, this type of financial report is typical of many penny stock companies.
It's also prudent to assume that the recent run up of Cellceutix's share value could foreshadow an inevitable correction as those who purchased the stock at lower prices cash out. That being said, Cellceutix still appears to have long-term investment potential.
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Ekso Bionics Rides Rewalk Robotics' IPO Coattails
Just a week after Ekso Bionics Holdings Inc. (OTCQB: EKSO) share price got a major boost from Rewalk Robotics Ltd.'s (NASDAQ: RWLK) Initial Public Offering, the Richmond, Calif.-based company that's developing robotic devices to help stroke victims walk, saw its share value fall.
On Sept. 12, Ekso's share price closed at $1.18, up 21.6%, with an extremely high volume of 7.3 million shares changing hands. But at the close of the market Sept. 19, Ekso share value had fallen to 93 cents, on tepid volume of 468,060, just about half its 30-day average volume of 733,746 shares.
Even so, this is substantially higher than the company's 52-week low of 77 cents a share, which it also reached last week.
Promising Technology
Ekso's share value's roller coaster ride is due in part to the newness and lack of a strong market yet for its exoskeleton devices. This is why the company continues to tout a study done by Kessler Foundation using it devices to help stoke patients as well as patients with spine injuries walk.
"We observed several beneficial outcomes from training with the Ekso," said Dr. Nolan, the principal investigator of the study.
He added that when wearing the device, patients experienced increased knee flexion and voluntary muscle activation and that the device can provide intensive motor practice for stroke gait rehabilitation.
However, how soon such reviews will generate orders and revenue for Ekso remains to be seen. On a positive note, Ekso does have a licensing agreement for its technology with Lockheed Martin Corp. (NYSE:LMT)
Sufficient Cash to Carry On
In addition, the company finds itself with more cash than many penny stocks. Here's a summary of its most recent 10Q, covering the period ending June 30.
- Cash: $10.9 million
- Current assets: $15.3 million
- Current liabilities: $6.1 million
- Quarterly revenues: $1.2 million
- Operating losses: $4.3 million
According to Ekso's SEC filings, it has sufficient capital to keep operating through June 2015.
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Amarantus BioScience Lacks Results but Not Studies
San Francisco-based Amarantus BioScience Holdings Inc. (OTCQB: AMBS) share value remained unchanged Sept. 19, closing at 9 cents on a volume of 3.2 million shares, which is a about half its 30-day average volume of 5.8 million shares.
The biopharma company that's developing treatments for such neurodegenerative diseases as Parkinson's and Alzheimer's has seen its stock lose more than 50% of its value since it reached its 52-week high of 19 cents on Jul. 29.
This could be in part due to the fact that although Amarantus continues to trumpet various studies and data it is collecting about its experimental treatments, it has yet to offer any concrete evidence that it's close to providing viable treatments for either disease. In all fairness, this is the nature of biotech companies. They can burn through hundreds of millions of cash -- only to find that definitive proof and approval of their so-called wonder therapies continue to elude them after years of research.
No Shortage of Studies or Trials
In the beginning of the year, Amarantus announced that it had been granted worldwide rights to Eltoprazine, a new drug that treats Parkinson's disease and recently went through Phase2 trials during which it was given to 700 patients.
It also said it was establishing research collaboration with Boston University School of Medicine. The company said it would work together with the university's Professor of Neurology and Neurosurgery Dr. Robert Stern to evaluate the feasibility of using its LymPro Test as a blood-based test to identify patients early in the disease process of the neurodegenerative diseases, chronic traumatic encephalopathy and Alzheimer's disease.
On Sept. 17, Amarantus announced yet another study it was getting ready to conduct on providing a treatment for adult attention deficit and hyperactivity disorder.
The question that will determine whether AMBS' share value will gain any of the ground it lost since July will be answered when the company provides some evidence it is closer to developing viable treatments.
Find out what could be the best investor's move when it comes to AMBS by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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OncoSec Medical Has Strong Cash Position
OncoSec Medical Inc. (OTCQB: ONCS) had a lackluster day Sept. 19, with just 1.1 million shares changing hands, substantially less than its 30-day average volume of 1.6 million shares.
The San Diego-based biopharmaceutical company that is developing DNA-based treatments for cancer hasn't had any major announcements lately.
Impressive Amount of Cash on Hand
Still, OncoSec's latest quarterly report filed Jun 13 reveals that company has more cash on hand that many other penny stocks:
- Cash and cash equivalents: $24.2 million
- Total liabilities: $1.1 million
- No revenues-Net loss: $3.8 million
On Sept. 19, ONCS’s share price closed at 53 cents, down 1 cent from the previous day’s close of 52 cents a share.
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