A string of recent headlines from Generex (OTC: GNBT) and Antigen Express (AE) has looked to reignite some spark into the share price, but thus far the campaign of positive updates has failed to make a difference.
While Generex's buccal insulin spray Oral-lyn and Antigen Express's cancer vaccine could be destined for a bright future on the commercial market, it's the short term concerns of financing and an Antigen Express spin-off that has dominated investor attention.
One of the main drivers behind the AE spin-off, according to Generex officials, is to offer investors the opportunity to value AE-37 independantly from Oral-lyn and the rest of the Generex pipeline for diabetes. The hope is that investors might value the cancer immunotherapy close to where an independent, unnamed auditor valued it earlier in the year.
The value given by the auditor was $300 million, at the current stage of development.
Regardless of whether investors will agree or not with the independent assessment, AE-37 has been labeled the centerpiece of the future by company officials earlier in the year, and the flux of recent headlines have supported that battle cry.
The latest in the run of news came Monday morning when Generex announced via press release that AE-37 "is reviewed in the September 2011 issue of Expert Opinion on Biological Therapy, a peer-reviewed, international journal publishing review articles and original papers on all aspects of biological therapy, providing expert opinion on the scope for future development."
Positive peer reviews are highly sought-out milestones for developing companies and add another layer of legitimacy to a product candidate, and this peer review is well timed since the AE spin-off is just months away, at most.
That said, this news effected the GNBT share price with the same thud that all the recent previous news has, leading only to a five percent increase in price per share. Ordinarily a 5% spike would be a welcome event following the issuance of a positive press release, but in this case that spike just returned shares back to the dime level that has become the operating norm.
Although Generex's Oral-lyn hit some late stage snags, so has Mannkind's (MNKD) Afrezza, putting both companies on equal footing in the race to bringing an insulin delivery alternative for diabetics to market. AE-37 has also thus far demonstrated significant potential as an immunotherapeutic cancer treatment, so the longer term pipeline potential still remains with an investment here.
It's evidenced by the stagnant share price, however, that it's the short term that is worrying investors.
Confidence is slow to be rebuilt for investors who had previously lost faith.
It's yet to be seen if these press releases are rebuilding that confidence, brick by brick.
Disclosure: No position.
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