Peter Hristov

Unigene Laboratories (OTC:UGNE) Drops Down on a 10-Q Report

by Peter Hristov November 10, 2011
5UGNE_chart.pngYesterday, Unigene Laboratories (OTC:UGNE, UGNE message board) finished exactly at the $1 mark after falling down 1.96%. The stock had attracted nearly 360 thousand shares in the trade, which is six times higher than the daily average.

Higher than the daily average was the trading activity on Tuesday as well. Then, the trading volume exceeded 140 thousand shares.

The increased interest towards UGNE stock has been produced by speculations connected with the financial report which has just been filed the SEC.

The report, which is still unaudited, shows a working capital surplus of $2.8 million. However, the long-term debt of the company exceeds $72 million, which is way over its total assets.

8UGNE_logo.jpgThe aggregate net worth of the company amounts to a negative $61 million. In addition, the company reports an accumulated deficit since inception of $192 million.

Sales revenues have increased by $600 thousand, but at the same time the net loss of the company has increased by roughly $3 million as compared with last year.

Thus, it is probably the financial picture presented by the last 10-Q that most likely stood behind the decrease in the share value of UGNE yesterday.

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