volume over the last week, on Friday ACTC started the gain. The stock still moves higher, and yesterday it soared 17.14% on the market, while its traded volume reached over 11 million shares.Since end-September, the company has not released much news till the beginning of this week. On Monday, ACT reported it was to present at the 18th Annual BioPartnering Europe conference in London. Meanwhile, the company is waiting for the FDA approval to start a clinical trial in patients with Stargardt’s macular dystrophy. However, the approval is not granted yet.
At the end of September, ACTC was on a low trade and the company tried to support its stock by other positive news and promotions, though unsuccessful. The investors kept dumping their shares and the price change remained negative.[BANNER]
According to the records, in 2009 ACT used to trade much higher, however, this year its market position looks quite uncertain. Apart from this fact, the company’s financials are still discouraging as its liabilities are more than six times higher than its total assets and the operating loss cannot be covered.
In its quarterly report, Advanced Technology states it has no expectations for generating any revenues in the near future and the team relies only on raising funds through capital transactions. It means that if ACT is unable to find additional cash resources, it may need to scale down its business, or shut it down completely.
