MabCure Inc (OTC:MBCI) stock is in the traders’ spotlight once again and could be pushing for another resistance bounce considering the humongous volume recorded yesterday.The price has already gone above the 50-day MA and could be possibly aiming to reach the $0.80 PPS, which has recently served as a strong resistance point. The buying pressure shows the $39 million market cap is adequate for the current potential of MabCure, even though the company has little tangible worth.
The accumulation likely increased for technical reasons as no news was issued to trigger the buying. The stock has been traded more actively since MabCure announced positive results of their proprietary cancer detection substance.
The development stage firm retains a healthy balance sheet, with no substantial debt and huge worth in intellectual property. Furthermore, in mid-August Thai National Cancer Institute joined MabCure’s clinical studies with the Ramathibodi Hospital in Bangkok.[BANNER]
This partnership will speed up the development of MBCI’s monoclonal antibodies panel used for detection of ovarian cancer in high risk patients.
MabCure basically has developed a method to easily diagnose early stages of ovarian cancer through a method as simple as a blood test.
In July MabCure announced the test results for the monoclonal antibodies, which were able to detect early stage cancer with 94% accuracy and with no false positives. Early diagnosis of ovarian cancer substantially increases the five-year survival rate among patients.
