Petar Ilievski

The Galentin Therapeutics Inc. (OTC:GALT) Announcement

by Petar Ilievski October 13, 2011
9GALT_logo.jpgCatalyst after catalyst - Galentin Therapeutics Inc. (OTC:GALT, GALT message board) continues with the wave of press releases. In the meantime, the stock price is heading for  $1, but whether this level would be reached is another matter entirely. GALT-13.10.11.png

Yesterday was no exception, today is no exception. An addition to the board of directors, then data on the treatment of fatty liver disease and fibrosis. As far as yesterday is concerned, it was a positive session: the stock price accumulating value and 139k shares exchanging hands, the session closing at $0.99 per share. It is also worth-mentioning that shorters had a very busy day as well as 75.4k shares exchanged hands as a result of short-trading activity.

In the meantime, the third quarter is over, so results are to be expected in the next several weeks. At present, this is what the company looks like in terms of financials:

  • $7.9 million in cash;
  • $8.1 million in total assets;
  • $789k in total liabilities;
  • $63 million in accumulated deficit;
  • $3.1 million in net loss;

The above figures are included in the 10-Q for the second quarter of 2011. Not exactly optimistic, not too bad, either. Given that there is one more day with news at hand, the hype on the stock market is likely to continue. Whether GALT could return to its price levels from April is a question yet to find its answer.

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