Although the share price of TapImmune Inc. (OTCMKTS:TPIV) registered numerous red sessions since the start of this year, the overall trend on the charts remains positive. After registering strong gains back in February, the stock traded close to 20 cent for next two months, and then in March started to move north side on the charts.
The stock posted impressive gains of over 100% in few trading sessions. However, it faced strong resistance when it approached 30 cents but then managed to surge above the mark. The experts believe that the company has ample cash reserves but still cannot make use of the opportunities to generate revenues.
As per the financial report for the first quarter of FY2015, TapImmune cash reserves were $1.45 million. The current assets stood at $1.53 million and current liabilities came at $3.3 million. The main drawback was revenue as company posted no revenue in 1Q2015. Moreover, the net loss in the first quarter was $981,000.
Despite the hullabaloo related to performance of company, TPIV stock gained after results. The press releases issued boosted the stock as it surged over 25% on a dollar volume of over $1 million on May 20, 2015. After posting strong gains, the stock encountered resistance and then erased a part of its gains.
The change in management
Recently, TapImmune announced some changes in its board of directors. The company elected David Laskow-Pooley to the Board of Directors. It is a remarkable change as Laskow-Pooley brings over thirty years of extensive experience related with the development, innovation and marketing of numerous healthcare and Pharma offerings. He has an amazing track record of establishing, operating, developing, and exiting start-up businesses. He has served as MD of OSI Systems, Inc. (NASDAQ:OSIS), a NASDAQ listed firm.
In last trading session the share price of TapImmune surged more than 4% to close the trading session at $0.345.