TapImmune Inc. (OTCMKTS:TPIV) has been on the rise following news of a breakthrough in the development of its cancer vaccine. The company holds the rights to a Mayo Clinic technology, for which the medical trials are underway. The final data is being collected from the sample population and is due to be released on May 28.

TapImmune announced that Dr. Glynn Wilson will be present on behalf of the company, at the “2015 Macrum Microcap Conference”. He will deliver his presentation on May 28, which would update the shareholders about the progress of the company’s clinical programs. TapImmune also stated that the company has also completed phase 1a and 1b of clinical trials successfully and aims to begin phase 2 this year.

TapImmune rose to fame, after Dr. Edith Perez, a Mayo researcher, stated in an interview how this vaccine changed her view towards preventative medicine. She also explained how the vaccine could be a ground breaking discovery to prevent breast cancer from recurring in women. Dr. Perez has herself been working on the vaccine, with a focus to target triple negative breast cancer.

She stated that she has been working on a folate receptor alpha protein and its effects on different types of tumors. Her study led to the identification of the protein being over-expressed in TNBC. The initial data from TPIV had shown the drug to be effective and safe. It is also expected that the phase 2 results would show great promise as well.

However, TPIV is a very small firm, which mostly operates in sub-penny stock. The recent news seems to have propelled the shareholder value to new heights, but still does not have the financial strength to stay there. The company just has $142,000 in cash, no revenues and $3.3 million losses in the cost of operations, as per the company’s latest filings.

TapImmune Inc. (OTCMKTS:TPIV) closed at $0.380, after losing 7.32% on May 21. The company has 32.64 million shares being traded in the market, with a 52-week range of $0.12-$2.50.