AMARANTUS BIOSCI INC (OTCMKTS:AMBS) stock price got a much needed support in the last pre-Easter trading session as its gained more than 12% to close at $0.051 on a share volume of 4.74 million. The gains halted a four-day losing streak and hardly marked fifth close in the green zone for the last month of trade.
The performance
If the chart performance of Amarantus is studied, particularly in last six weeks, it represents that the stock price entered the oversold territory on March 30, 2015. Thereafter, it kept losing its momentum for two consecutive days before finally posting gains last Thursday.
The mentioned chart pattern had been witnessed by AMBS stock before when it went undervalued on March 18, following a decline for six consecutive days. It traded close to those levels for almost a week and then posted gains of 17% a week later. The stock has declined below the critical oversold territory for two times in past three weeks and has since eroded 40% of its market value.
The profile
AMARANTUS BIOSCI INC (OTCMKTS:AMBS) operates in the industry of biotech and is focused on developing treatments for neurological disorders like Alzheimer and Parkinson. It has a slew of lead product candidates in different stages of development. However, the company has yet to market any of them.
It is demonstrated in the company’s last four quarterly financial reports covering the period from September 30, 2013 to September 30, 2014. The list of lead product candidates includes the Lympro test therapy for Alzheimer, and the Eltoprazine molecule for treatment of Parkinson disease. Amarantus is on the right path in terms of defining it business plan. It had to resort to equity financing every now and then and the problem is going to stay as long as alternative fund raising opportunities are nonexistent or limited. The last report highlighted funds problem of the company.
