Many traders may remember when a psycho got hold of Viral Genetics Inc. (VRAL) shares and issued a penny stock alert back on two months ago. Since then, VRAL stock price has been on a slide from the 0.0198, May 22, to its lowest point this year, 0.0044, which it touched just before the close Thursday before rallying back 0.0063, a 43.18% intraday gain. The rally may continue on Friday after the first patient was been enrolled into the Phase 1 clinical trial to treat drug-resistant ovarian cancer.
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VRAL Stock Chart
Market Cap: 5.87M
Avg Vol (10 day): 3,929,450
Shares Outstanding: 932.53M
Average Trade Size: 298,944
Dollar Volume: $111,239
Share Volume: 22,121,860
The application for this test went through the approval process rather quickly. In late April, the Cancer Therapy and Research Center at The University of Texas Health Science Center at San Antonio submitted an application to the FDA to test VRAL’s ovarian cancer drug treatment. In May, less than a month after submitting the request to the FDA, approval of the application was received. The FDA often takes years to review applications, so the speed of VRAL’s approval seems like it could indicate the FDA believes the drug has strong potential.
With Patient enrollment also expected to commence at Scott and White Hospital as soon as internal review procedures there are finalized, a total of up to 24 patients will participate in the study. Patients will receive a combination treatment of hydroxychloroquine and sorafenib, Nexavar™, under primary investigator, Tyler Curiel, M.D., MPH, a medical oncologist affiliated with The Cancer Therapy and Research Center of The University of Texas Health Science Center at San Antonio.
VRAL stock is down -66.84% since the beginning of the year and this is no “dead-cat” bounce. This is the first sponsored clinical trial by Viral Genetics based on the licensed research of Dr. M. Karen Newell-Rogers, the Company’s Chief Scientist, and represents a milestone in the transition of the Company from preclinical- to clinical-stage. Can this be the beginning of a run for VRAL? Keep your expectations in check, but when the 24 patients are enrolled, a spike should come with the announcement.
About VRAL Stock
Viral Genetics discovers drug therapies from two platform technologies based on over 60 patents: Metabolic Disruption and Targeted Peptides. Founded in 1994, the biotech company is researching treatments for HIV/AIDS, Lyme Disease, Strep, Staph and drug resistant cancer.
Bottom Line: VRAL should be on the list of penny stocks to buy and sell when the next announcement comes out of the Phase I study being completely enrolled. Buy on rumor, sell on news. VRAL stock price hit an all time low today at 0.0044 so check the bid/ask while its on the bottom and be ready to strike if you’re willing to chance it.
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