After a series of negative price changes, Lightlake Therapeutics (OTC:LLTP) hit the gain. On Friday, the stock soared 
approximately 49% and tripled its traded volume at once. Though, at this point the reason for the gain remains in mystery.
The last news by Lightlake came up on Jan 6, when the company announced that it intended to develop a treatment for premenstrual syndrome overeating using its patented technology involving opioid antagonists. LLTP was planning to conduct multi-center clinical trials in the near future, though no more details on the issue were provided.
Currently, there is no news about Lightlake and no one has a clue about its activities. Nevertheless, the stock price jumped up and it is interesting if the up move will continue.
Lightlake Therapeutics is a biopharmaceutical company that is leveraging its expertise in the field of opioid antagonists. As of October 31, the company’s liabilities were much higher than its total assets and the stockholders’ equity was a negative value. Besides, both its net loss and accumulated deficit during the development stage have substantially increased, while cash and cash equivalents decreased.[BANNER]
These numbers, along with the fact that Lightlake is a development-stage company and still has no revenues, raise substantial doubt about its ability to continue as a going concern. Meaning that if LLTP is unable to obtain the necessary funding it could cease operations as a new enterprise.
