Although the stock price of TapImmune Inc. (OTCMKTS:TPIV) recorded several red sessions since the beginning of 2015, the overall trend remains positive. After recording strong gains in mid-February, the stock traded around 20 cent for almost next two months. It was only last month when TPIV stock price started to move up side on the charts, posting gains of more than 100% in few trading sessions. The stock faced stiff resistance around the levels of 30 cents. The investors are concerned that the company hold decent cash reserves but still is finding it tough to generate revenues.
As per the financial report for 1Q2015, TapImmune reported cash of $1.45 million. The current assets came at $1.53 million and current liabilities stood at $3.3 million. The red flag was revenue as company generated zero revenue in 1Q2015. Moreover, the net loss in the quarter amounted to $981,000. Despite the controversy related to performance of company, the stock surged after results. The press releases issued by the company boosted the stock as it gained more than 25% on a daily dollar volume of $1.02 million on May 20, 2015. It is at that time, the stock began to face stiff resistance again.
The change in board
Recently, TapImmune made changes in its board and included David Laskow-Pooley to company’s Board of Directors. The new member brings thirty years of extensive experience in development, innovation and commercialization of various healthcare and Pharma products. He has an impressive track record of operating, developing, creating and exiting start-up businesses. He was also MD of NASDAQ listed firm, OSI Systems, Inc. (NASDAQ:OSIS).
In last trading session the stock price of TapImmune Inc. (OTCMKTS:TPIV) declined more than 8% to close the trading session at $0.331. The decline came at a share volume of 1.9 million compared to average share volume of 1.02 million.