Hristina Beeva

NanoViricides, Inc. (OTCBB:NNVC) Sold Off After Reverse Split

by Hristina Beeva September 10, 2013
NanoViricides, Inc. (OTCBB:NNVC, NNVC message board) did not thrive well on the news of a reverse stock split, being sold off after Friday's very robust volumes. Sales exceeded $2.6 million, and brought down the ticker more than 6% to $1.36. The reason for the split may be the need to uplist NNVC to a higher tioer national exchange. The split will issue one new share for each 3.5 old shares. NNVC0910.png

And the massive selling is discussed on message boards as a sign that information leaked before the press release. The new trading day would show how NNVC does after the sudden change in share numbers. Message boards are also abuzz with the lack of clinical trials, and while NNVC has started procedures for an orphan drug, not enough treatments are being tested, and this costs the company investors' appeal. ACTC0910.png

Othersiwe, what NNVC awaits for is the European Medicines Agency opinions and reviews on the DengueCide drug, a single one in its category. But when the drug will actually achieve sales is a whole other matter.

Of course we cannot visit NNVC without mentioning the rest of the highly active biopharmaceutical tickers. Often this sector comes with great noise and hype, partially justified by the emergent treatments and drugs offered. But more often than not, the drug coming to market is much slower than the developments of the stock.

Advanced Cell Technology, Inc. (OTCBB:ACTC) of Dr. Raymond Lanza fame is now trading on medium-sized volumes a bit above $320,000.ACTC stands now between 5 and 6 cents, forming what could be called a small dead cat bounce, not being able to recover from the deep slide in the past months. ACTC traded without a change on Monday.

As for Titan Pharmaceuticals, Inc. (OTCBB:TTNP), this ticker is also slow to recover, once its promising anti-opioid therapy was met with less than smooth acceptance. The stock also had no net change on Monday, sitting at 62 cents.TTNP0910.png

For now, NNVC has no date for higher-tier uplisting, nor do we know if it could pass all the requirements. Still, the news may revive trading, especially if tied up with promotions or press releases. NNVC commands a higher price, but this does not necessarily translate into stability for the price or volumes.

If you still believe NNVC is headed for success, it is best to choose your price levels well and not invest unaffordable sums, relying too much on positive developments.

Comments 0

Type the characters that you see in the box (5 characters).