TapImmune Inc. (OTCMKTS:TPIV) impressive run that started in May continues, seen by the stock skyrocketing by more than 100%. The recent run comes on the heels of reports that the company had reached an agreement to raise more capital. The funds are to be used to kick start Phase 2 clinical trials of some drugs.
TapImmune To Raise $4.93 Million
TapImmune is poised to raise up to $4.93 million in near-term funding. The agreement with investors gives TapImmune Inc. (OTCMKTS:TPIV) an option to ask for additional warrants, which could see it generate more capital inflows. The company is seeking to generate more capital for its phase 2 programs.
Recent quarterly filings showed that the company had $1.45 million in cash but still needs more cash to foresee other clinical trials in the pipeline. Being a development stage company with ongoing trials for cancer treatment in the pipeline, TapImmune Inc. (OTCMKTS:TPIV) hasn’t managed to hit the high strides in terms of revenue generation.
TapImmune Inc. (OTCMKTS:TPIV) has already posted positive data for Phase 1 clinical trials for breast and ovarian cancer. The company’s Folate Receptor Alpha was found to be safe as an alternative therapy. The drug on successful trials in Phase 2 would be used to target a highly profitable market of ovarian and breast cancer.
Need For More Lead products
The drug should set the company on course to generate revenues, a front it has struggled on as it continues to operate as a developments stage company. The company is also anticipating positive data from Her2neu breast cancer Phase 1 trial.
TapImmune Inc. (OTCMKTS:TPIV) needs more than one lead product if it is to generate the much-needed value in terms of returns. At the moment, it seems to be doing everything right with the ongoing clinical trials awaiting to see how the same pans out before year end.