When Emisphere Technologies, Inc. (OTC:EMIS) closed yesterday’s session, its stock only managed to add 0.55% to its value. Nevertheless, EMIS registered a third positive performance on the stock market in a row.
Clocking in at $1.83 per share, EMIS continued its quest toward regaining its market positions prior to the major slump it underwent in mid-October. Moreover, a volume of 420 thousand hinted that investors might be willing to rediscover EMIS as a commercially viable investment, at least in the immediate term.
The latest official news about the company popped up on Oct. 13 when EMIS announced initial results on its Phase III study 2302 regarding the efficacy and safety of its product candidate called “oral calcitonin” (“oCT”) designed to treat osteoarthrits of the knee. In a nutshel, the study appears to have shown no safety concerns.
Occupying the biopharmaceutical industry, Emisphere Technologies, Inc. is mainly focused on developing a novel way of delivering pharmaceutical compounds, as well as medical foods via its proprietary Eligen (R) technology.
As seen in the company’s latest 10-Q form, it finished the three-month period ended Jun. 30, 2011 with:
- cash reserves in excess of $1.3 million;
- $2.19 million in current assets vs. $11.21 million in current liabilities;
- zero revenue (for the second quarter in a row);
- net income of $1.84 million, i.e well below the $12 million accumulated in Q1 of 2011.
