Noted over and over again by penny stock watchers the price rally of International Stem Cell Corp (OTC:ISCO) continues with strengthening uptrend.
The stock price has been actively reaching new 52-week highs after breaking out of the consolidation. The speculative jump was not supported by any breaking news and the initial spurt was pushed further by stock newsletter providers, like stockegg.com. No paid promotions were announced.[BANNER]
The first thing to give birth to this move of over 80% could be a release of fundamental update, though the financial report didn’t show any major improvement. Insignificant growth in revenues and continuing losses are a part of a development stage companies’ daily life.
ISCO patents for stem cell culture processing, filed in early March this year, are still pending. Last week the company engaged in second phase pre-clinical trials of retinal pigment epithelium. The studies are part of their long term goal to develop systems for the use of human parthenogenetic stem cells, which do not require human embryos for production.
The development stage company covers most of their expenses through equity sale and has historically incurred only losses. Common shares outstanding had increased from 36 million in 2008 to over 62 million in 2009, for the last reported numbers. The current price movement is speculative and not following any sound changes in the fundamental base.
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