The stock price of OXIS International, Inc. (OTCMKTS:OXIS) had a strong good run in the first week of March, but was struggling in the rest of the weeks. The ticker gained in the final session of the March after the company said that they have given a desire to suspend the company’s stock on the reputed Euronext exchange.
The reason is the company wants to up list on the well-known NASDAQ exchange. It would be really interesting to watch how the company plans to achieve the new objective. The problem is with the stock price that is trading much below the required levels to list on the NASDAQ exchange.
The number game
Apart from the lower stock price, OXIS reported poor financial numbers. As per the last report, the company had $855,000 in cash. The current assets stood at $882,000 while the current liabilities were at $29.82 million.
The revenue came at $61,000 and net loss was $23.48 million. The financial numbers are clearly not supportive of a company that wants to up list on the NASDAQ exchange. The price has been trading well below the ten cent mark and has been declining ever since the financial report was submitted with the SEC.
The week has brought no cheer for OXIS share as they have already declined sharply in past few days. The volume was massive supporting the sharp decline. Even in yesterday’s session, the stock price opened in green but then failed to sustain at higher levels. It didn’t even closed flat and gave away all gains to close in red.
Oxis CEO Tony Cataldo always has list of good things to mention about the company. His announcements highlight the words like innovative, cancer and cannabinoids. The company’s wish to list on NASDAQ exchange is based on the hopes of launching valuable biotech assets this year.