After going up 43% on Oct. 28, Curaxis Pharmaceutical Corp (PINK:CURX)
has been doing nothing short of disappointing stockholders. So, what will be the impact of the shareholders' meeting that has just been officially announced by the company?
Scheduled to take place tomorrow, the meeting will bring managers and stockholders together for the very first time. Whether it will do miracles for CURX on the stock market or not is far from clear. Yet, it is a positive sign, no matter what.
Last Friday, CURX stock lost 6% in value closing at a six-month low of $0.066 per share. Thus, it scored a third negative performance in a row. The $2,500 promotion which had been expected to buck the negative trend started on Wednesday only managed to narrow the losses down to these 6%.
Now, third parties have pushed CURX stock to the limits by embarking on a brand-new promotion. This time, the cost of the service is much higher, i.e $15 thousand, and it will most probably have a substantial, albeit short-term, impact on the present session.
The pump, if any, will most probably be short-lived. As seen from CURX's latest quarterly report, the company's financial condition is disastrous. In a nutshell, managers have to cope with a working capital deficit in excess of $6.2 million. Given that they only have $2 thousand in cash, it will be quite a challenging task. In terms of financial results, CURX has accrued a quarterly net loss of $475 thousand. Thus, the cumulative loss since inception in 2011 has now risen to a staggering $90.6 million.