it added approximately 3% more to its loss. In fact, ACTC has been moving down almost over the whole week, though its traded volume has kept its high values.During the last week, the company has made some efforts to push up its stock price by releasing positive news on its business, as well as by some promotional newsletters. However, that strategy appeared to be unsuccessful. The price change remained negative, and the traded volume shockingly high. Looks like investors have been losing interest in ACTC and started to sell their shares intensively.
Advanced Cell Technology, Inc. is focused on applying stem cell technology in the field of regenerative medicine to bring effective, patient-specific therapies to the bedside. Last year, the company used to trade higher, though since then the price has moved down. Historical data shows that the stock has had frequent ups and downs this year and currently its market position is still unstable.[BANNER]
Compared to the previous quarter, the company’s revenues and gross profit have not changed, however, ACTC still has an operating loss to cover. The worst thing here is that its assets totaled around $7 thousand, while the company’s liabilities pointed about $43 thousand.
Based on these results, the company needs to look for additional sources of financing, as the management states: “On a longer term basis, we have no expectation of generating any meaningful revenues from our product candidates for a substantial period of time and will rely on raising funds in capital transactions to finance our research and development programs”.
Thus, the share price downturn of ACTC seems rather corresponding to the state of their business. According to the latest 10-Q report, if ACTC is unable to raise additional capital, they will need to either scale down the business, or shut it completely down.
