Bio-Path up 132%
Mar. 01, 2019 10:51 AM ETBio-Path Holdings, Inc. (BPTH)By: Douglas W. House, SA News Editor12 Comments
- Thinly traded nano cap Bio-Path Holdings (NASDAQ:BPTH +131.5%) is up on a whopping 47x surge in volume as short sellers run for cover. No particular news accounts for the action.
- Yesterday, it announced upcoming data presentations at AACR supporting its DNAbilize technology.
- On the working capital front, at the end of September 2018, it only had $2.3M in cash while operations consumed ~$1.6M per quarter to date in 2018. In January, it filed for a direct offering of ~648K common shares at $2.65 per share plus warrants yielding proceeds of ~$1.7M so still more capital will be needed.
- It will be reporting Q4 and 2018 results later this month.