Generex Biotechnology Corporation must be pretty serious about the upcoming conference call, as Thursday marked the second day this week that the company issued a press release related to the 30 March call.
Interim CEO Mark Fletcher and other representatives of the company will gather at the Nasdaq at 1:00 PM on Wednesday to discuss the development plans of both Oral-lyn and AE-37.
The progress of Oral-lyn has been a mystery of late, since little has been heard about the ongoing Phase III trial for the insulin spray in some time, and investors will be looking for a serious update about the product come Wednesday.
Any attempt at a 'fluff' update is going to lose the company some credibility, in my opinion.
Generex's cancer vaccine AE-37, being developed by subsidiary Antigen Express, has received the majority of drug-related attention from company press releases thus far this year, but little information has been given about potential partnerships or an outright sale of the product since the company announced that an independent valuation firm slapped AE-37 with a value of $300 million.
Volume was up on Friday morning, and GNBT is still up 20% for the week, but a disappointing call next week could easily send shares down into the teens.
Investors need valid and precise updates, not any more fluff statements of large valuations placed on the company's products from unidentified firms or comments such as "Phase III is still ongoing."
This one needs to be for real, and the company sure is building the anticipation by issuing multiple PRs to announce one conference.
The time to delivery will be next Wednesday.
Disclosure: Long GNBT.