Generex Biotechnology Corp. (OTC:GNBT) stock closed the market on Friday with a large jump in the share price and scored a volume record for the past six months. The reason was the announcement of the preliminary clinical results of Generex Oral-lynTM formulation. A planned reverse stock split might also support the share price shortly. 
On Friday GNBT closed the session with a share price of $0.219 and a trading volume of 10.92 million shares. The stock added 67.18% to its value from the previous close, while the next resistance is at $0.26. If it gets broken, technically GNBY could again go over $0.30 for a share.
Generex Biotechnology latest press release caused the sudden jump. On Friday the company announced the preliminary clinical results of two major trials that used the Generex Oral-lynTM formulation. GNBT intends to register and market that formulation. According to the PR, these new trials have provided now encouraging data about the effectiveness of the new formula in reducing post-prandial increases in blood sugar, as well as a long-term positive effect on metabolic control in patents with Impaired Glucose Tolerance.
Judging by the market reaction, the details about the new results could suggest that GNBY has finally reached a milestone in its development. The latest 10-Q of the company does not give a completely positive signal, however.
At the annual shareholder meeting of Generex Biotechnology held on June 8 the shareholders approved among other things an amendment in the company’s Restated Certificate of Incorporation. The amendment should allow GNBT to effect, at any time prior to December 7, 2012, a reverse stock split of its common stock at a still undetermined exchange ratio, as well as to reduce proportionally the number of the common stock authorized for issuance.
