Nelly Shishkova

EpiCept Corporation (NASDAQ:EPCT) Moves Up Sequentially

by Nelly Shishkova August 4, 2010
EpiCept Corporation (NASDAQ:EPCT) has been progressing up sequentially during the last days. On Monday, the stock started image155.pngto gain and yesterday it added 3.92% to close at $1.06 per share. Along with the price move, traded volume of EPCT also rose up to over 442 thousand shares, while its average volume totals only 170 thousand.

The great progress for the stock came up just when the company announced it is to report its 2010 second quarter results on August, 6. No more news on EPCT has been released recently, except for the announcement that it has entered into several new agreements, which will bring additional benefits to the company.

EpiCept is focused on the development and commercialization of pharmaceutical products for the treatment of cancer and pain. Last month, the company signed an employment agreement with Mr. Robert W. Cook that provides him an annual base salary of approximately $278 thousand prior to the completion of the agreement.

EPCT_logo.gifAccording to the historical records, EPCT has traded higher at the beginning of this year, when the price exceeded $2.00 per share. However, after that it started to fall and went down to about $1.00.

The first 2010 quarter report of EpiCept showed improved revenue and gross profit, though the company has suffered high net loss. Its balance sheet points that during the first three months of this year, EPCT has registered about three times higher liabilities than assets and its long-term debt remained uncovered.

Today, the high move of EPCT seems to be broken and the second quarter results of the company will be revealed in a couple of days.

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