Amarantus Bioscience, Inc. (OTC:AMBS) Reaches Previous Pump Highs
The team of Amarantus Bioscience, Inc. (OTC:AMBS) is probably having a really great Christmas time. In the half-day session before Christmas eve, AMBS stock closed up nearly 20% and reached $0.076 at the bell.
The company was previously targeted by promotional pumps but those came to an end in early December. Since then AMBS has continued to climb steadily up the chart, having seemingly won the lasting trust of investors.
AMBS develops a proprietary protein treatment for Parkinson’s disease and traumatic brain injury. The company recently announced that its CSO presented at the OneMed Forum in San Francisco. AMBS is still in the early stages of its product development but it appears that investors see sufficient potential to put their money in the stock.
We extensively covered the stock while the last pump was still active and were called ‘bashers’ for our cool outlook on the company. However, no pump has been in place for a couple of weeks, and AMBS is still going strong. The company still hasn’t got much in terms of financials to support its operations. As of the start of Q4 AMBS had virtually no cash, millions of liabilities and piling net loss.
Obviously, as a biotech company that is still developing its product, it’s natural to incur net loss in the opening stages of development. The question is, shouldn’t such a company secure financing before selling its common stock to investors, both to have some kind of resource to fall back on, as well as to inspire greater small investor confidence.
It seems despite its financial situation and the early stage of development of their flagship product, the MANF protein, there are a sufficient number of people who believe this could be the next big thing. AMBS was the third most heavily traded OTC stock on Dec. 24 and managed to generate a dollar volume of over $1 million in just a few hours.
If there’s something good to be said about AMBS after all, it would be that the stock seems to have enough believers in its future to keep climbing even in the absence of a promotion, even if its financials seem shaky at best. As with any stock, traders are advised to do their own research and make informed decisions when investing.