Access Pharmaceuticals, Inc. (OTC:ACCP) Wanders Up and Down
Access Pharmaceuticals, Inc. (OTC:ACCP) has been constantly wandering up and down over the past days. On Wednesday, the stock cut off the loss again by soaring 2.12% and its traded volume increased. Though, the reason for the often price jumps remained unknown. Historical records shows that there is no news on Access these days, apart from some analysis and the company's update provided a week ago. Unfortunately, none of these succeeded to influence the stock price that much and presently its next move seems unpredictable. Access Pharmaceuticals, Inc. develops products for use in the treatment of cancer, the supportive care of cancer, and other disease states. On Nov 14, the company filed its 10-Q report, which was not inspiring at all.[BANNER] As of September 30, liabilities of ACCP were much higher than its total assets, while the revenues were not able to cover the losses. Apart from these facts, the company had a shocking accumulated deficit and an enormous stockholders' deficit that make the need of additional financing inevitable. The problem is that the management is not sure how to obtain it. Besides, if they raise additional funds by selling equity securities, the relative equity ownership of their existing investors will be diluted.