ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM)
ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM) volumes exploded last Friday. Shares of the biotech company have a 30-day, daily average trading volume figure of 43,152. However by the close of trading last Friday over 237,000 shares had traded hands. Remarkably, the share price for ENUM was down just 4.76% although the closing price of $0.08 was the low of the day. Interestingly, the two largest trading volumes over the past month have accompanied down moves in the stock.
Cambridge, MA-based ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM) discovers and develops antibody immunotherapies that assist the body’s immune system attack diseased cells. Their process allows them to measure drugs in a customizable fashion for each patient. Enumeral is building a pipeline of treatments for cancer and inflammatory diseases.
On June 9, 2017 ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM) filed a form with the SEC detailing their separation from the company’s former CEO Dr. Arthur Tinkelenberg. Also included in the form was the assertion that the company has implemented a reduction in the company’s labor force. This course of action is being taken to prolong the company’s ability to operate. Currently Enumeral believes they have enough cash to operate through June, 2017. However the SEC filing makes it clear that avenues are being investigated to avoid having the company be forced to wind down. These options could include a sale, private debt or equity offerings, collaborations, licensing, or even a merger – among other possibilities.
Investors would be well advised to keep a close eye on any news concerning ENUMERAL BIOMEDICA COM USD0.001 (OTCMKTS:ENUM).
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.