Rock Creek Pharmaceutical Inc (OTCMKTS:RCPI) Bounces

This year has been really bad for the stock of Rock Creek Pharmaceuticals Inc (OTCMKTS:RCPI). The company has lost a massive amount of value and it looks like things are far from getting better.

RCPI’s market cap has already shrunk to levels that are considered low even by OTC marketplace standards. Meanwhile, its report for the first quarter of the year only added to the negative sentiment towards the company stock, containing the following numbers of prime interest in its balance sheet.

• cash: $552 thousand
• current assets: $1.1 million
• current liabilities: $21.83 million
• revenues: ZERO
• net loss: $2.69 million

Those numbers are far from pretty and the market is reacting accordingly, at least this time. And while we don’t see much of a good future for RCPI, the ticker managed to bounce off the bottom. The bounce was of the deceased feline sort, but managed to push the company stock some 41.94% up in the last session before the weekend.

The volume was massive and the 22.57 million shares that changed their owners generated $545 thousand as RCPI went for a close at $0.022. The dead cat bounce is followed by a bad start of this week. The company stock is already 9.09% in the red as of the writing of this article, after a short stay at the 3 cent per share mark.