Rock Creek Pharmaceuticals Inc (OTCMKTS:RCPI) Attempting To Recover
Rock Creek Pharmaceuticals Inc (OTCMKTS:RCPI) has had a pretty terrible time this year. At first, its descent was rather slow, but the last couple of months really hit the company stock hard and we saw the volumes increase significantly last month.
The company’s market cap dropped significantly and has become one of the lowest in the OTC markets, standing below a mere $500 thousand. The company’s latest financial report isn’t all that flattering either. Here is what RCPI had to show for the first quarter of the year.
- cash: $552 thousand
- current assets: $1.1 million
- current liabilities: $21.83 million
- revenues: ZERO
- net loss: $2.69 million
Meanwhile, the company hasn’t been all that busy issuing new press releases, which might further explain the negative sentiment towards its stock. Even the few times that RCPI did manage to bring forth some news, however, weren’t enough to change the direction of the ticker.
Lately RCPI has been swaying in both direction and we saw some big daily percentile movements. This week, however, RCPI has been climbing more steadily. Tuesday saw the ticker gain 7.74% and yesterday it gained another 3.32% and closed at $0.0187. Yesterday’s volume was massive and the 52.34 million shares that changed their owners generated more than $1 million in daily trade value. This was rather strange as RCPI is supposed to have only 24 million shares outstanding.
Today’s session, however, shows just how volatile RCPI can be. The company stock is already trading 27.81% in the red as of the writing of this article and you should be sure to do your due diligence and weigh out the risks before putting any money on the line.
