Ohr Pharmaceutical, Inc (OTC:OHRP) is moving up again. The climb started yesterday, when the stock added approximately 
22% to its price and its traded volume jumped up. However, considering the contradictory price changes of OHR lately, it is more interesting how long the up move will continue.
What is obvious presently is that the gain was due to some positive news released by OHR. Yesterday, the company reported the positive results from two animal studies on the recently announced Squalamine eye drop formulation for the treatment of wet-age related muscular degeneration. According to Mr. Irach B. Taraporewala Ph.D., the company’s CEO, the news data solidify the value of their eye drop program and it might create a paradigm shift in the multi-billion dollar wet-AMD market.
These statements provoked investors’ interest and gave credits to OHR at once. Though, it is still not certain whether the progressive move will be kept for longer this time.
Ohr Pharmaceutical Inc. is a publicly traded pharmaceutical development company dedicated to the clinical development of new drugs for underserved therapeutic needs. Apart from yesterday’s news, OHR has not released any data on its activities since last month, though the stock gets hot and cold all the time.[BANNER]
In the meantime, the last 10-Q report is not as bright as it should be. Despite the fact that OHR has over $1 million in cash, its total liabilities are 50% higher. Besides, as of March 31 this year the company’s accumulated deficit exceeded $21 million, while the revenues totaled $nil.
Thus, the ability of OHR to continue as a going concern is dependent on the company obtaining adequate capital to fund operating losses until it becomes profitable. Otherwise, it could be forced to cease operations.
