Although CardioVascular BioTherapeutics, Inc. (PINK:CVBT) lost 1.67% in value during yesterday’s session, its overall performance has been improving since early-March. It stock closed at $0.59, only a sent below the 52-week high registered two days ago. While the turnover of 580 thousand marked a three-fold increase over the average figure, it is nowhere near the 1.07 million shares of CVBT stock that changed hands on Tuesday.
CVBT has issued updates every once in a while. However, the last one dates from Feb. 3 and it was followed by a pretty consistent performance on the stock market. That is why the current upward trend, which started at the beginning of the month, can hardly be attributed to press releases. Nor does it appear to have been fueled by any promotional activities whatsoever. Even iHub posters have been idle on CVBT stock.
CardioVascular BioTherapeutics, Inc. is a development-stage company occupying the pharmaceutical industry. It is currently focused on the development of protein drugs for the prospective treatment of cardiovascular diseases. So far, the company has several product candidates, but none of them has reached the final stages of development. [BANNER]
Having products which are still considered a work in progress does not necessarily place CVBT at a disadvantage. What casts a cloud over its reputation is its financial discipline or, to be more precise, the complete lack thereof. The company still pretends to be filing with the SEC. At first glance, it does report with the Commission every now and then. On second reading, however, CVBT has filed no financial documents for the last three years. As it is, the latest available quarterly report covers the period ended Sep. 30, 2008.
To raise additional capital, CVBT will inevitably have to switch into a more transparent mode. Otherwise, its product candidates might never see the light of day.
