COBI

COBI is showing very unusual trading sessions

Penny stock shares of Compass Biotechnologies, Inc. (Public, OTC:COBI) are on ride over the past three trading sessions

COBI started gaining momentum on Wednesday, when it climbed 67% on low volume. The next day, COBI stock further added 22.50%.

Recent activities were driven by on no news. Looks like, there would be either some news coming or some big promotional activities going on.

COBI filed its last press release on April 26, 2011, where it signed a memorandum of understanding with Arecor Ltd.

The company is engaged in development and commercialization of generic, biosimilar and bio-better therapeutic products. It has already completed preclinical testing and analysis of Cyplasin-SC™. Compass Biotechnologies holds two issued patents, while it has applied for three more, which are pending.

COBI had no revenue as of January 31, 2011.

Meanwhile, it had a net loss of $1,489,171.

COBI said that it expects to require $1,790,000 to pay its current liabilities, which are way short of current net assets. So, it would be very difficult for the company to overcome with this situation, unless and until it arranged some financing.

COBI has Deficit accumulated during the development stage of $3,317,763.

Check back for more penny stock news, IPO updates and stock market research.