Bio-Matrix Scientific Group, Inc. (OTCMKTS:BMSN) Spikes on Massive Volume

Since the start of October the stock of Bio- Matrix Scientific Group, Inc. (OTCMKTS:BMSN) has been on a constant downward slide dropping well into the double zeros zone and going as low as $0.0011. Interest in the company has also been diminishing with daily traded volumes often failing to reach the average of 24 million shares. Well, their yesterday’s performance certainly defied the negative trend.

BMSN surged by more than 30% to finish the session at $0.0017 which was the high of the day for the stock. Although the price movement was impressive the sheer amount of traded shares was staggering when compared to the 5 million from the previous day – traders managed to shift 179 million shares. If this bounce turns into a more prolonged positive sentiment remains to be seen but for now nothing around BMSN has changed.

The company hasn’t issued a PR article about their operations for more than a month. The last one dated October 31 announced that BMSN are going to produce clinical-grade HemaXellerate I with the first batches used in preclinical experiments requested by the FDA. An Investigational New Drug application was filed in February but for now there hasn’t been a definitive answer from the FDA and it all may depend on the results of the experiments. The company also has another product under development – a breast cancer immunotherapeutic product, dCellVax but there is no new information about its progress.

Meanwhile the number of outstanding shares is continuing to grow and currently there are more than 2.2 billion shares with another 60 million issued to the CEO in September. BMSN should file their annual report by the end of the month and the numbers inside it may determine the future movement of the stocks. If you are considering BMSN as an investment choice keep in mind that in addition to all the other risks associated with the company just three months ago they were targeted by a paid promotion.

During the first session for the week the stock of DelMar Pharmaceuticals Inc (OTCBB:DMPI) plummeted by nearly 16% and dropped to $1.01 per share. At the same time Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX) are once again trying to break through the $1 mark with a current market price of $0.97.