Radient Pharmaceuticals Corporation (PINK:RXPC) recently issued some press releases aimed at giving some hope to shareholders, and the market has responded with some increase in price.
Yesterday, RXPC closed up 10% at $0.0066 on nearly 28 million shares. It was the third positive close in a row for RXPC. However, the real situation hasn’t changed much.
On Dec. 1, RXPC issued a press release saying it had received $500 thousand in new capital. If this was all it could have been good, although stacked against $1.8 million in operational loss $500 thousand isn’t that much.[BANNER]
In fact, RXPC actually got $435 thousand, and that came from the exercise of Series B Warrants. The dilution is far from over, and RXPC hasn’t been able to make a financially significant progress with its product.
Yesterday, RXPC issued another press release. It was about two abstracts about Onko-Sure being accepted for presentation at the 2012 Gastrointestinal Cancers Symposium. A presentation could provide for more exposure, but it will hardly solve RXPC’s problems.
New capital and presentations are all good and well, but it’s hard for a company to look appealing when monstrous dilution is a certainty, and the company is losing money.
