Shares of Generex Biotechnology Corporation (NASDAQ: GNBT) fell 2.05% to close at $0.32 in today’s trading.
The penny stock has a 52-week range of $0.31-$1.01 and currently trades below its 50-day and 200-day moving average of $0.386 and $0.544, respectively. The penny stock has seen support at $0.32 and has met with resistance at $0.36.
Toronto, Ontario-based Generex is involved in the research, development and commercialization of drug delivery systems and technologies. The company focuses on its technology for the administration of formulations of large molecule drugs to the oral cavity using an aerosol applicator. The company’s flagship product is Generex Oral-lyn™, an oral insulin spray for the treatment of diabetes. The product has been approved for sale in India, Algeria, Ecuador and Lebanon. The company also focuses on immunomedicines, through its wholly owned subsidiary Antigen Express Inc.
Last week, Generex announced its participation in the 70th Scientific Sessions organized by the American Diabetes Association (ADA), the world’s largest and most prestigious diabetes meeting. The conference, held in Orlando Florida, started on June 25 and ends on June29.
Earlier this month, Generex announced the technologies and products under development at its wholly-owned subsidiary Antigen Express Inc.
The company also announced the preliminary outcomes and trends from Generex Oral-lyn’s ongoing phase 3 clinical trial, earlier in the month. Commenting on the outcome, Anna Gluskin, president and CEO of Generex, had said that the company was pleased that the key characteristics monitored throughout insulin treatments are trending favorably.
Also this month, Generex was awarded two new patents in Japan and Ukraine.
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About BeaconEquity.com
BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
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