By: Matt Rego
Shares of Rock Creek Pharmaceuticals, Inc. (OTCQB: RCPI) are up over 45% on heavy volume. As we approach mid-day trading, over 5.7 million shares of Rock Creek Pharmaceuticals, Inc. (OTCQB: RCPI) exchanged hands or around $120,000 in dollar volumes.
The rally comes after a particularly rough week that Rock Creek Pharmaceuticals, Inc. (OTCQB: RCPI) was experiencing last week. At one point during the last week, shares rallied to $0.05 per share, but by Friday, Rock Creek Pharmaceuticals, Inc. (OTCQB: RCPI)’s share price were back down to below $0.02. Here is commentary on the recent volatility in the stock:
Rock Creek Pharmaceuticals, Inc. (RCPI) recently recorded -22.5 percent change and currently at $0.02 is -22.5 percent away from its 52-week low and down -99.58 percent versus its peak. It has a past 5-day performance of -74.17 percent and trades at an average volume of 640.36K shares. The stock has a 1-month performance of -93.54 percent and is -97.88 percent year-to-date as of the recent close. There were about 14.99M shares outstanding which made its market cap $230000. The share price is currently -83.51 percent versus its SMA20, -93.87 percent versus its SMA50, and -97.73 percent versus its SMA200.
Recently the company announced its 2016 Q1 Results which stated: The Company recorded a net loss of $2.7 million for the three months ended March 31, 2016, compared to a net loss of $338 thousand for the same period in 2015. The net loss for the three months ended March 31, 2015 included a one-time receipt of $3.5 million of insurance proceeds.
General and administrative expenses were $1.2 million for the three months ended March 31, 2016, a 63% decrease of $2.1 million, from$3.3 million for the same period in 2015.
The Company invested $133 thousand in research and development efforts during the three months ended March 31, 2016, compared to$473 thousand for the comparable period in 2015. The research and development costs for the three months ended March 31, 2016 were directed principally toward the preparation and pre-clinical testing of anatabine citrate in preparation for advancing into the next phase of the Company’s clinical development.
Additional financial information can be found in the Company’s Form 10-Q filed on May 16, 2016. Additional scientific and corporate information can be found within the Company’s updated Investor Presentation, posted on the Company’s website within the “Investors” section, under “Presentations and Webinars” and in the Company’s Form 8-K, filed May 16, 2016.
Rock Creek Pharmaceuticals, Inc. (RCPI) further on May 5, 2016 announced recent additions to the Company’s intellectual property (IP) portfolio. The Company continues to protect existing IP and to enhance and develop additional IP.
The Company has recently received a Decision to Grant a Patent from the Japanese Patent Office (Patent Application No: 2014-528385) for a pharmaceutical composition or dietary supplement containing anatabine or a derivative or isomer thereof. This decision marks the first approved patent for the Company in Japan, which is the second largest drug market in the world, worth close to $80B. Numerous Japanese companies in-license drugs and compounds from overseas for development in Japan.
The stock has been beaten down heavily from its $3.55 High almost a year ago today. The current voume is showing signs of live and potentially more to come.