AMARANTUS BIOSCI INC (OTCMKTS:AMBS) stock price opened in green on Thursday’s trading session. It surged more than 10% and was trading close to $0.0546. The company witnessed sharp decline last month. By March 25, it had lost 38% of its total value, having posted a total of four trading sessions in the green. The probable reason behind the poor performance was the news that the company made the final payment of $2.3 million to Regenicin Inc (OTCMKTS:RGIN).
The financial performance of Amarantus has not been impressive. As per the latest report, the company reported $689,000 in cash. The current assets came at $1.1 million while the current liabilities stood at $3.3 million. The quarterly revenue was $0.Yes, it is not printed wrong, it is actually a zero. The net loss in the quarter came at $4.3 million. The numbers are dismal for a company that is working on the trials of its key product.
The news and dismal financial performance are the two major reasons that fueled the much awaited decline of Amarantus. During this period, the company was issued several press released that proved as a failed attempt to boost the declining stock prices. Now, it appears that investors have assumed the fall to stop, and a closing in green with strong gains is the first indication.
AMARANTUS BIOSCI INC (OTCMKTS:AMBS) updated its shareholders on the recent developments. Then it announced about development of Investigational New Drug application. It stated that it is ready for the start of Phase 2b of the key studies for the cure of Parkinson evodopa-induced dyskinesia. The updates from the company took the stock price in the right direction and Amarantus was posting strong gains. The gains in last week came a strong volume of 9.43 million shares. It appears that the rise can be short-lived if the company fails to progress with its underway development processes.