A press note rolled out just in time has propelled the stock of Propanc Health Group Corp (OTCMKTS:PPCH) for two successive sessions now. As opposed to the flat or negative trade sessions, the company is seeing increased attention from the investors over the last few days. This is evident from the gains of 27% and 43% accompanied with a higher volume that the stock achieved during the last four sessions.
Will feature in NY Times
The news, which is driving interest in Propanc Health Group Corp (OTCMKTS:PPCH) is not about the announcement of a successful result from its ongoing trials. But, a mention that the company will feature in the Sunday Edition of NY Times on April 19. The latest update has certainly invoked the interest of the various investors, but how long will it sustain is another question. Propanc Health Group Corp (OTCMKTS:PPCH) is already famous for engaging into promotional campaigns, but its real success lies in the commercialization of the drug that it is currently testing. Even if the drug passes the efficacy and safety test during the ongoing trials and passes over to pre-IND with the FDA, the infusion of funds will pose another challenge.
Long way to go
The process demands a huge amount of funds, which is something Propanc Health Group Corp (OTCMKTS:PPCH) is lacking excessively. The scarcity of cash and funds is noticeable in the company’s financial report, where it held just $14,588 in cash and $52,940 in current assets. As opposed to which, the current liabilities are as much as $1.93 million. With NIL revenues, the company’s net loss is as huge as $345,479. Alongside this, the company is also struggling with the event of massive dilution, wherein its outstanding shares grew to 191 million from 90 million in a matter of three months. Moreover, there is no sign of such dilution nearing end anytime soon.
With the current problems, Propanc Health Group Corp (OTCMKTS:PPCH) is expected to remain under the spotlight for some time. Its stock price zoomed by nearly 44% to $0.057in the last session, when 24.62 million shares were traded.