At the end of 2012, we updated our coverage on the penny stock of Generex Biotechnology Corp. (GNBT) and the devastating slide the shares had been on all year. With hopes and expectations that someone would come along and drop some much needed cash into the biotech focused on treating and curing breast cancer, the news of an investor conference call scheduled for 10am today was enough to send GNBT into a mini rally on Wednesday. Since there clinical and regulatory status of the AE37 breast cancer vaccine has seen some recent news, today’s live call could answer the big question investors have: Money?
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GNBT Stock Chart
Market Cap: 23.74M
Last: 0.0638 ▲ 0.0238 (59.50%)
52Wk High: 0.188
52Wk Low: 0.0205
Issued and Outstanding: 372,059,685
14-Day Rel Strength: 75.35%
14-Day Stochastic: 82.95%
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Generex Biotech recently filed a Preliminary Proxy informing the public of their upcoming annual shareholders meeting scheduled for Thursday, March 28, 2013, at 10:00 a.m. (local time), at 201 Bridgeland Avenue, Toronto, Ontario, M6A 1Y7. On the agenda to be voted upon are (i) an increase in authorized shares from 750 milion to 1.5 billion as well as (ii) an amendment to the Company’s Restated Certificate of Incorporation to effect, at any time prior to September 27, 2014, a reverse stock split of GNBT stock at an exchange ratio to be determined.
While those items are on the agenda for March, today’s conference call is likely to be focused more on money and Generex Oral-lyn™ , a buccal insulin spray product as well as the status of the proposed spinout of the Company’s Antigen Express. Generex has been hitting the newswires of late with updates of its Indian licensee, Shreya Life Sciences Pvt. Ltd., having submitted a dossier of the results of the recently completed Phase III trial of Generex Oral-lyn™.
There was also news released two weeks ago of an interview focused on the Company’s AE37 breast cancer vaccine under development by their wholly-owned subsidiary, Antigen Express, Inc. The interview, featured in a Micro-Cap Review, was conducted while Antigen Express President, Dr. Eric von Hofe, PhD, was attending the JPMorgan Healthcare Conference in San Francisco earlier this month.
It’s been a long and hard road for investors in Generex Biotechnology over the last 11 months and Wednesday’s session which landed them on the top 10 penny stocks traded list in the 4th position should help to keep them on the map for the next few weeks.
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About GNBT Stock
Generex Biotechnology Corporation is engaged in the research, development, and commercialization of drug delivery systems and technologies. Click here to view the SEC filings for GNBT. Audio replay of the investor conference call today will be available on the Company’s website, www.generex.com, following the call.
Last 5 Trading Sessions:
Bottom Line: Is GNBT stock simply a victim of the old “Buy on rumor, Sell on news” play? Best have it on the list of penny stocks to watch on level 2 come 9:59am to see which direction its headed. Breast cancer awareness has become a nationwide campaign to fight for a cure and, if GNBT appears to be one step closer than they were a year ago, the long term riders, despite the massive share issuances during 2012, may want to look into it.
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