On Friday TapImmune, Inc. (OTC:TPIV
, TPIV message board
) stock jumped up both in share price and trading volume. There is no direct explanation for now as the latest news from the company dates back to the beginning of the month and the new financials will come out with a delay.
TPIV closed the last trading session at $0.24, increasing 39.53% from the previous day close. The highest price during the day was $0.26, but the resistance for the past several months is $0.28. the trading volume exceeded 1.5 million shares on Friday, which together with the technical set-up on the chart suggest that TPIV could jump up again today.
The last financial report of the company shows minor assets and large debts, as well as high dilution risks for shareholders coming from the fact that the company had an outstanding convertible note in an amount higher than $500,000. In addition, TPIV does not have any marketable products and is in a dire need to raise capital in order to continue its development activities and to pay out its current liabilities.
Not much better sounds the Notification of Late Filing concerning the quarter report for the period ending September 2011 which the company submitted on Monday last week. Otherwise, the latest optimistic news came through a press release in the beginning of the month. Then, TPIV announced a collaboration agreement with Nature Immunology and Arkitek Studios under which a 3D animation of the TAP mechanism should be created.
TAP is described as a protein pump located in the cells which plays an important role in TPIV current work on development of therapies for the treatment of cancer and of infectious diseases. Management believes it is working on a immune therapy that could be more effective than traditional cancer therapies, but it is yet very uncertain when, or if, its potential would be realized.