Access Pharmaceuticals Jumps 120% As Volume Surges
On Friday shares of Access Pharmaceuticals (ACCP.OB) gained more than 120% to $2.65, as 200,000 shares traded hands; more than 16 times the average daily volume.
What makes this even more interesting is that there were no news releases or media exposure on that day.
Back on September 20 the company announced it has filed an FDA 510(K) application for MuGard, a mouthwash. MuGard is intended to be used by cancer patients who usually are afflicted by oral mucositis as a side effect of chemotherapy.
As to when a decision is expected on the 501(K) application it is not clear. Was there a news leak on Friday? I Wonder.
Looking at the history of the company potential investors cannot but cringe away in horror. A history of a failed venture into the drug delivery through nanotechnology, a crash from $40 a share all the way down to penny land, and a delisting from the Nasdaq back on February of 2006 would deter the most extreme of risk seekers.
Yet, a mouthwash for oral mucositis might be interesting indeed. In fact, any product to make it on the shelves of pharmacies could be a big hit. If Access recieves the approval it seeks for MuGard the stock could still be a huge hit!
The company does not just rely on MuGard alone. It also boasts a couple of phase 2 clinicals for ovarian cancer.
So it might prove fun to watch shares of Access over the next few months, but as for investing in the stock; a little caution might prove beneficial.
_
On Friday shares of Access Pharmaceuticals (ACCP.OB) gained more than 120% to $2.65, as 200,000 shares traded hands; more than 16 times the average daily volume.
What makes this even more interesting is that there were no news releases or media exposure on that day.
Back on September 20 the company announced it has filed an FDA 510(K) application for MuGard, a mouthwash. MuGard is intended to be used by cancer patients who usually are afflicted by oral mucositis as a side effect of chemotherapy.
As to when a decision is expected on the 501(K) application it is not clear. Was there a news leak on Friday? I Wonder.
Looking at the history of the company potential investors cannot but cringe away in horror. A history of a failed venture into the drug delivery through nanotechnology, a crash from $40 a share all the way down to penny land, and a delisting from the Nasdaq back on February of 2006 would deter the most extreme of risk seekers.
Yet, a mouthwash for oral mucositis might be interesting indeed. In fact, any product to make it on the shelves of pharmacies could be a big hit. If Access recieves the approval it seeks for MuGard the stock could still be a huge hit!
The company does not just rely on MuGard alone. It also boasts a couple of phase 2 clinicals for ovarian cancer.
So it might prove fun to watch shares of Access over the next few months, but as for investing in the stock; a little caution might prove beneficial.
_
posted by Nico at
10:21 PM
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