PURE Bioscience (OTCMKTS:PURE) Records A Decent Run Up

[[tagnumber 0]][[tagnumber 1]]The last time that we wrote about PURE Bioscience (OTCMKTS:PURE) was back in November 2014 when the ticker crashed horribly after the company withdrew its Food Contact Notification (FCN) for their silver dihydrogen citrate with the FDA.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]There hasn’t been a lot of action surrounding the stock since then and it has been hovering around the 60 cent per share mark for most of this year. Nothing changed even when the company posted their report covering the quarterly period ended January 31, 2015 which contained these numbers in its balance sheet.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $3.9 million[[tagnumber 11]] [[tagnumber 10]]current assets: $5.56 million[[tagnumber 11]] [[tagnumber 10]]current liabilities: $817 thousand[[tagnumber 11]] [[tagnumber 10]]quarterly revenues: $273 thousand[[tagnumber 11]] [[tagnumber 10]]quarterly net loss: $1.73 million[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We see that the cash positions of [[tagnumber 24]]PURE[[tagnumber 25]] have improved significantly which is not a surprise considering that the company managed to accumulated $7.9 million in proceeds from a private placement in August last year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We also see, however, that the revenues have increased significantly year–over–year while the net loss and the accrued liabilities have been lowered. Still, this didn’t manage to boost investor confidence in [[tagnumber 24]]PURE[[tagnumber 25]] and the stock was thinly traded even after the filing of the report.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]On Wednesday, however, the company announced that it has resubmitted its FCN with the FDA for the use of their patented silver dihydrogen citrate in poultry. This managed to attract investors and we saw [[tagnumber 24]]PURE[[tagnumber 25]] close yesterday’s session with a 17.14% gain and a daily volume that we haven’t seen in more than half a year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Having reached a price of $0.82 per share, however, seems to be the limit for PURE at this moment and we see the ticker hesitate in today’s session. In any case, doing your due diligence and weighing out the risks before putting any money on the line is crucial.[[tagnumber 2]]