Generex Biotechnology Corp. (OTC:GNBT
, GNBT message board
) has been moving up since Tuesday. Yesterday, the stock price jumped up 16.67%
and its traded volume exceeded 7 million shares.
Apparently, the massive trade was due to the positive announcements released by Generex over the past week. Along with the update on its clinical trials, the company reported the interim Phase 2 results from its ongoing study.
Looks like the series of news lately pumped up GNBT stock price successfully and the up move is still on. Though, the next move of the stock is still to be seen.
Generex is engaged in the research, development and commercialization of drug delivery systems and technologies. In October, the company filed its annual results, however, these looked disappointing.
According to the 10-K, GNBT has had a history of losses, accompanied by a limited history of operations, and they do not expect sufficient revenues to support their operation in the foreseeable future.
Until July 31, Generex has not been profitable and its accumulated net loss available to shareholders totaled over $347 million. At the same time, the revenues were minimal and the company urgently needs additional capital to support its operations.
So, while hoping to receive its products approval, the future existence of GNBT continues as a going concern.