After some hesitations over the past week, yesterday the stock price of Compass Biotechnologies, Inc. (OTC:COBI) didn’t 
change. COBI closed the day at $0.0395 per share, while its traded volume decreased. Though, Compass is not satisfied with the current chart position and makes efforts to change it.
Yesterday, the stock was heavily promoted by numerous websites trying to pump up its price. The promoters alerted strongly on COBI, inspired by the latest news by the company.
It was just yesterday when Compass spread out the news about its new research findings for fighting and preventing HCV Infection. According to the announcement, these will alter the course of HCV vaccine development and sales could jump to much higher levels.
The optimistic statements accompanied by promotions may certainly push up COBI stock price, though the result is still to be seen.
Compass Biotechnologies, Inc. is a specialty drug company with a mission to development and commercialization of drugs, peptides, and proteins to combat major human diseases. Last Friday, the company was featured in an independent third party report, however, it didn’t influence the stock price at all.
The latest 10-Q report of COBI shows that as of July 31 the company’s cash has notably decreased, while its liabilities remained high. Also, the stockholders’ deficit exceeded $151 thousand, and the accumulated deficit totaled over $4 million.[BANNER]
Judging by these numbers, one can easily conclude that COBI has been operating under a going concern. Thus, the management claims they will require additional financing to proceed with their operations, including approximately $1.7 million over the next 12 months to pay for the ongoing operating expenses.
However, these cash requirements are in excess of the company’s cash resources, while any issuances of additional shares of common stock will result in dilution to the existing stockholders.
