Genitope Corporation fka GTOPQ

[labrador]

>>>ROC shows GTOP was oversold<<<<<
Genitope Corp. (GTOP): the Redwood City, CA based biotechnology company was left behind the strong market rally as it instead plummetted 48.57% to all time low of $2.87 per share on analyst downgrade as its data safety monitoring board recommended the study of the company's cancer drug would still need to keep going. It appears that the investors have lost faith on the development stage company as it still need to burn cash for couple of years before its drug went commercialized. Currently the company has 87 million in short term assets and with short term liabilities of 17 million and about 11 million net loss per quarter the company would need to raise cash again next year. However it's still too early for bankruptcy so this may actually be a good time to get some of the shares in huge discount as ROC shows the stock was oversold. The stock was the biggest loser on Nasdaq today with 7.57 million shares traded.

http://stockonthemove.blogspot.com/2006/07/stocks-on-move-july-28.html