Why Generex Biotechnology Corporation (OTCMKTS:GNBT) Shares Just Caught Fire
January 09 2019 - 12:45PM
InvestorsHub NewsWire
By James Hudson - January 7, 2019
Shares of Generex Biotechnology Corporation
(OTCMKTS:GNBT) have
been ripping higher over recent days. To further flesh out the
story, the company just announced that it has completed the
acquisition of 51% of Regentys Corporation, a regenerative medicine
company focused on developing novel treatments for patients with
gastrointestinal (GI) disorders.
According to the release, “The terms of the deal include the
previously reported upfront payment of $400,000, plus $14.6 million
to be paid according to a milestone-based schedule. Details of the
transaction can be found in the Generex 8K filing with the
SEC.”
Shares of Generex Biotechnology Corporation
(OTCMKTS:GNBT) have
been ripping higher over recent days. To further flesh out the
story, the company just announced that it has completed the
acquisition of 51% of Regentys Corporation, a regenerative medicine
company focused on developing novel treatments for patients with
gastrointestinal (GI) disorders.
According to the release, “The terms of the deal include the
previously reported upfront payment of $400,000, plus $14.6 million
to be paid according to a milestone-based schedule. Details of the
transaction can be found in the Generex 8K filing with the
SEC.”
As noted above, GNBT just announced that it has completed the
acquisition of 51% of Regentys Corporation, a regenerative medicine
company focused on developing novel treatments for patients with
gastrointestinal (GI) disorders.
Recent action has seen 55% piled on for shareholders of the
listing during the trailing week. What’s more, the stock has
witnessed a pop in interest, as transaction volume levels have
recently pushed 72% beyond what we have been seeing over the larger
time frame.
Joe Moscato, CEO of Generex commented on the acquisition, “The
completion of this Regentys acquisition demonstrates our commitment
to build a world-class regenerative medicine business by acquiring
great companies with cutting-edge, patented technologies and
exceptional management teams. Our direct investment in the clinical
development of Regentys ECMH will provide long-term value to
Generex investors as we achieve milestones on the path to
commercialization in the billion dollar markets for ulcerative
colitis and other inflammatory bowel diseases.”
Currently trading at a market capitalization of $94.05M,
GNBT has a chunk ($2.4M) of cash on the books, which
stands against about $42.9M in total current liabilities. One
should also note that debt has been growing over recent quarters.
GNBT is pulling in trailing 12-month revenues of $2.4M. In
addition, the company is seeing major top-line growth, with y/y
quarterly revenues growing at 77408.9%. We will update the story
again soon as developments transpire. Sign-up for
continuing coverage on shares of $GNBT stock, as well as other hot
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Disclosure: we hold no position in $GNBT, either long or
short, and we have not been compensated for this article.
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Original Source: https://oracledispatch.com/2019/01/07/generex-biotechnology-corporation-otcmktsgnbt-shares-just-caught-fire/