MabVax Therapeutics (OTCMKTS:MBVX) Reaches A 52-Week Low

[[tagnumber 0]][[tagnumber 1]]The stock of MabVax Therapeutics (OTCMKTS:MBVX) has been having a hard time for the past several months. In March we saw the ticker climb the charts and after a little hiccup it continued to rise, reaching above the $4.50 per share mark by mid–April.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The positive movement was a results of the news that Dr. Philipp Frost of Opko Health Inc. (NYSE:OPK) fame has made a significant investment in the company that totaled $12 million. This managed to boost investor confidence as well as the balance sheet. Back in the end of the second quarter [[tagnumber 6]]MBVX’s[[tagnumber 7]] financial looked something like this.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $7.18 million[[tagnumber 13]] [[tagnumber 12]]current assets: $7.56 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $2.93 million[[tagnumber 13]] [[tagnumber 12]]revenues: $0[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $6.39 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, that didn’t stop [[tagnumber 6]]MBVX[[tagnumber 7]] from embarking on a descent which cost the ticker quite a lot of its value. Despite the regular, positive news coming from the company the ticker has lost more than 80% of the value it had in April.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Even though [[tagnumber 6]]MBVX[[tagnumber 7]] issued a press release that should have sparked some investor interest and pushed the price up in Monday we see that the company stock has been sliding ever since. After another 8.99% drop in yesterday we saw the ticker reach a 52–week low of $0.86 while only 108 thousand shares changed their owners and generated a mere $93 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see that [[tagnumber 6]]MBVX[[tagnumber 7]] is trying to stabilize in today’s trading and this might be the first session in which the ticker closes green for this week. Still, that doesn’t mean that you should skip on doing your due diligence and weighing out the risks before putting any money on the line.[[tagnumber 2]]