stock soared 8.57% and traded over 5 million shares on the market. Considering the price hesitations of MSLP lately, now investors are curious if the stock will manage to hold the gain.The latest news on Muscle Pharm Corporation states that the company has just appointed Richard Ogden, PhD to its medical advisory board. The experience of Mr. Ogden is considered as a new opportunity for exploring the medical application of MusclePharm’s products.
This news has probably encouraged traders and the massive trade was immediately on. Yet, there is nothing particular reported on the company’s business activities recently, besides the news that they were seeking Medicaid reimbursement for their product MuscleGel(R) to finalize its approval process during the next several weeks.
MusclePharm Corporation is a development-stage company that markets sports nutrition products for athletes, body builders and health-minded individuals. In the beginning of this month, the company filed its annual results, which however, didn’t look optimistic at all.[BANNER]
By December 31, 2010 liabilities of Muscle Pharm were 50% higher than its total assets and the accumulated stockholders’ deficit was higher than $1 million. At the same time, the total accumulated deficit of MSLP has reached $21 million, not considering the other huge losses.
Above all, the management claims that the company exists on a number of risk factors as it has no sufficient cash to cover its liabilities. Moreover, while the losses have been constantly increasing, the additional financing cannot be guaranteed.
