Mymetics Corp (OTC:MYMX) scored the highest trading volume in its history yesterday. The achievement was made after the company announced a cornerstone development with its HIV vaccine study.
Yesterday, MYMX issued a press release to commemorate the end of phase I study of its HIV vaccine MYM-V101. According to the press release, the tests on 24 healthy women showed that the intra-muscular and subsequent inta-nasal administration with HIV-1 vaccine were safe and tolerated in humans.
The news apparently found support on the market as MYMX went through the highest trading activity ever and rose 4% to $0.13. The DMI index formed a bullish configuration, while the MACD hasn’t given any signs yet.
MYMX is a biotechnology corporation based in Switzerland. It is focused on developing of new generation mucosal and virosomes based vaccines. Currently, it tests vaccines for malaria, HIV, influenza and others.
Being a development stage company since 1990, MYMX cannot be expected to be in the perfect financial state. It has accumulated a $55 million deficit and has much more liabilities than assets. It has 495 million authorized shares, of which 213 million are issued and outstanding.
Now that the phase I study has ended, investors will be waiting for the next phases of research on the HIV vaccine. Until then there are no predictable forces that can drive MYMX stock out of its established trading range.
