It is no secret that the Ampliphi Biosciences Corp (OTCMKTS:APHB) has been had a terrible last year, when its stock valued at $0.07 each. The company’s stock has been on the rise since, but now the company plans to make some big moves to make it relisted to a bigger exchange. The current price of its stock stands at $0.3 a share. The company works in collaboration, with a number of private and research organizations on the advancement of bacteriophage based therapies.
A recent announcement by the company stated that it planned to raise $13 million in private stock sales to institutional investors and a partner company. The company seems to be trying to repeat what it did in December 2013, to raise its value. The sale was to be completed by March, 16, 2015 and seems to have done exactly what the company wanted it to.
The CEO of the company, Jeremy Curnock Cook, stated that the investment would allow his company to proceed, with its programs and move them to clinical trials. The company presently aims to cure its patients of drug-resistant bacterium, such as the ones involved in cystic fibrosis. The current aim of the company also matches that of a recent announcement made by the Obama administration to find cure for an anti-biotic resistant bacterium. This would mean that the company might be able to draw substantial funding from the government and state universities.
Additionally, it would also mean that its clinical trials would face little trouble from the FDA. This is great news for investors since it probably means that the company would soon be able to generate revenues that match the investors’ expectations. In addition to all these developments, the company is all set to start production of its bacteriophage products, in its dedicated facility located in Slovenia. The company is currently awaiting GMP certification before it releases its first batch. The facility has already been reviewed by the US army, the FDA and EU regulatory authorities, so there should not be much delay.