TapImmune Inc. (OTCMKTS:TPIV) reported that it will be participating at the upcoming Aegis Capital Growth Conference to be held in Las Vegas in this week. The company will present on October 9, 2015. Dr. John N. Bonfiglio, the Strategic Advisor and Board Member of TapImmune, will demonstrate an overall review and update of company’s planned Phase 2 clinical development trials n ovarian and breast cancer.
The expert view
Glynn Wilson, the CEO of TapImmune, said that they have made considerable clinical advancement in last one year with the completion of Phase 1 clinical studies in Her2/neu ovarian cancer and breast cancer. The recent news of the $13.3 million Phase 2 grant to the Mayo Clinic considerably enhances company’s ability to advance multiple clinical programs. Wilson added that Aegis conference is an ideal platform for TapImmune to report an update on company’s entry into Phase 2 clinical studies.
The Aegis conference 2015 is projected to bring over 500 individuals and more than hundred presenting companies together on one platform. It serves as a strong platform for participants in the healthcare, aerospace-defense, technology and telecom sectors to network and talk about innovations in their respective segments.
So far, this week has been a week of gains for TapImmune stock. The stock added 10.18% to its market cap on Monday and then eroded a part of its gains in following trading session. However, it once again recovered its grounds and closed with gains of more than 4% at $0.645 in yesterday’s trading session. It should be noted that TPIV positive momentum further depends on the note holders. As of now, Portfolio Services Ltd. owns 48.3% of TapImmune’s common stock. Even if a part of these shares make their way to the market, the stock price could plunge to the bottom of the charts.
TapImmune Inc. (OTCMKTS:TPIV) ended the last trading session with a gain of 4.88%. The volume of the day reached 799,000, slightly lower than the daily average of 997,000, emphasizing the corrective nature of the price action. The stock has been moving in a narrow range of $0.55-$0.70 for the last few days and even this positive day for the stock didn’t breach that. If the bulls fail to manage a break above $0.70 levels immediately, then the downside risk would be very prominent. The dry volume patterns for the last few days increase the probability of a short term correction.