CryoPort Inc (OTC:CYRX) has been moving down since last week. On Friday, the stock sank even deeper by losing 27% of its 
market price and increasing its traded volume significantly. A clear sign that unless CYRX finds a way to get back on track, it may hit the bottom of the chart.
Most probably the main reason for the fall is the lack of substantial news about CryoPort Inc. Actually, the company did release some announcements on its business over the past months, though there weren’t any activities worth to be mentioned. The latest one came up on April 20, when CryoPort reported that it has been named to OC METRO’S “2011 Green Team,” in recognition of its contribution to environmentally friendly business practices.
Apart from this news, no more information on the company’s current activities has been released and no one is familiar with its up to date projects. The only announcement reported dates from last month, when CYRX appointed a new Vice President of Client Care and Development and announced a new 24/7 support service in place within 90 days, which is yet to be launched.
Cryoport, Inc. provides a cold chain frozen shipping system dedicated to providing cryogenic shipping solutions. According to its quarterly report, the company’s financial condition is not much inspiring.[BANNER]
As of end-December, 2010 liabilities of CYRX were higher than its total assets and its stockholders’ deficit totaled over $1 million. But above all is the accumulated deficit of CryoPort, which has exceeded $50 million.
Due to its credit line and issuance of common stock, the management of CYRX claims its cash will be sufficient for at least the next 12 months. However, as a result of the huge losses the team may still need additional capital that cannot be guaranteed.
