Guided Therapeutics, Inc. (OTC:GTHP) share price reached a new yearly high on Friday after the share price broke out of the trading range the day before that. 
GTHP closed Friday session at $1.43 for a share, while the new highest price for the past 52 weeks, as well as the daily high from Friday, is $1.52. Trading volume in that last session amounted almost 700,000 traded shares, which is over 9 times higher than the average for the past three months, leading to a 22.22% increase in the closing price.
The break out of GTHP started on Thursday after the company published its latest press release half an hour before market open. The announcement states that the National Cancer Institute has acknowledged GTHP LuViva Advanced Cervical Scan among the institute’s successful investments related to products developed to fight cancer. LuViva is currently in a premarket application review and the FDA is expected to announce its decision by January 20, 2012.
Some previous news from GTHP SEC filings do not sound very optimistic about the future value of the shares, though. In November this year, the company issued to a private investor 2,055,436 shares of its common stock, as well as warrants to purchase a total of 285,186 shares, for a total offering price of $1.73 million. Exercise price of the warrants is $1.05 per share.
A few days after that, those newly issued shares, and those issuable when the warrants are exercised, were added to GTHP registration statement of securities filed initially in December last year. The statement concerns over 29.8 million shares of the company’s common stock that could now be offered for sale by certain stockholders of the company.
