Massachusetts-based biotechnology company, Advanced Cell Technology (ACTC), has quite a few things going for it this quarter. The biotechnology company is primarily into the application of cellular technology to solve problems in the field of regenerative medicine. Not only is this penny stock company one of the most actively traded over the counter stock, but it has also just released the 2nd quarter results that have left investors happy with the progress displayed by the company.
2nd Quarter Results
Advanced Cell Technology is an industry pioneer and leader in regenerative medicine. The company collaborates with a variety of other companies like Dr. Reddy’s located around the globe to provide the impressive cloning and lifesaving therapies to the world. The company has released second quarter financial results to investors and the general public, which report revenue of $218,184 for the quarter ended June 30, 2012. In comparison, the company’s performance in the same quarter in 2011 was limited to $153,688.
Its development expenditures have also increased in proportion during this time period, as did the net loss recorded by the company. The Chairman and CEO of Advanced Cell Technology, Gary Rabin, must be a happy man considering the 2nd quarter revenue and the ongoing clinical trials that have a substantially high success rate. The company is currently involved in clinical trials of treatment therapies and drugs for Stargardt’s Macular Dystrophy (SMD) and Dry Age-Related Macular Degeneration (Dry AMD).
Presenting at the Waldorf Astoria
Another positive news flash for the company is that the interim CEO and Chairman, Gary Rabin, has been asked to present at the 14th Annual Rodman & Renshaw Global Investment Conference held at the Waldorf Astoria. This is an honor for the company and it will also give it an opportunity to send out investment feelers to the attendees.
Advanced Cell Technology ended the trading session at $0.09 per share, which is up by $0.0065 or 7.8% since the last trade. The performance of this penny stock company has remained relatively consistent with the highest price point noted at $0.10 and the lowest point coming in at $0.09. Currently, the company is trading at the same price level when it comes to both 20-day short-term moving average price as well as 50-day long-term average. Though the average trading volume for Advanced Cell Technology is around 6.26 million shares, recent trading volumes have been recorded as high as 10.52 million shares which make it one of the most actively traded high volume penny stocks in the OTC market.
While the general outlook for Advanced Cell Technology is positive, other penny stock companies such as Talon Therapeutics (OTC: TLON) and Eastman Kodak Company (OTC: EKDKQ) are not faring all that well. Talon Therapeutics is a Frisco biopharmaceutical firm, whose penny stock is trading at $0.70 per share, or 2.8% lower than last trade. Eastman Kodak, on the other hand, is a famous company trading at $0.2135 per share. While the share prices are actually up by 1.9%, the company is currently in the throes of bankruptcy. In contrast, Advanced Cell Technology is displaying better results.