Today, in the beginning of the trading session Intellect Neurosciences, Inc. (PINK:ILNS) stock fell heroically pierced by the sword of the bullish investors’ mood. Against yesterday’s huge price spike, today stands a 20% shares’ depreciation.Yesterday, ILNS doubled its value on the released by the company news related to an obtained new patent. Was this a real milestone for the share price revitalization, or was it just a short term investors’ price appreciation?
The obtained new patent from the United States Patent and Trademark Office related to the company’s RECALL-VAXTM technology platform evoked a share price soar of 94.44% between the trading sessions.
The most impressive part of yesterday’s explosive trading day for ILNS was the share turnover. More than 339 million shares changing hands exceeded more than thirteen times the daily average volume for ILNS.
The press release from yesterday was a real stimulus to support a share price increase, if considering the announced by Intellect Neurosciences, Inc. last month not so optimistic financial statements and the last over-optimistic news.
At the end of December 2010, Intellect Neurosciences, Inc. reported total assets of $310 K to cover $14.9 M of total liabilities.
The most engrossing in this numbers is not the amount of the company’s unpaid bills for $3.6 M and derivative instruments for $10.78 M.
The unpretentious amount of $308 K, representing the company’s cash and cash equivalents, and the $2 K valued deposit are really of meaningful. Their aggregation presents the company’s assets, or in other words, all that is worthy not only for ILNS, but for its holders.[BANNER]
And maybe with a day delay, investors started to look in details the above small amount. The company stated that it has “significant intellectual property assets, which include several patent families”.
Unfortunately, as of the end of the last year in the company’s modest total value of assets there was no penny booked for the above “significant intellectual property assets”. Further more, neither the company, nor any of its licensees have obtained regulatory approval for the sale of any product candidates.
So, there is nothing strange that today the stock of Intellect Neurosciences, Inc. fell heroically pierced by the sword of the bullish investors’ mood.
