March 23, 2012 at 12:27 PM EDT
Emisphere Technologies, Inc. (OTC:EMIS) Hit an Impressive Gain
Emisphere Technologies, Inc. (OTC:EMIS) hit an impressive gain yesterday. After a couple of small gains, the stock soared 34.06% and its traded volume flew up at once. Most probably, the massive trade was due to the latest news by Emisphere that was released in the past two days. On Wednesday, the company issued an earning release on its financial results for the year ending December 31, 2011. The release pointed out the company's income for the past year, though when checking the report itself, it turns out that losses have not been covered. On the contrary, some of these even got higher. The working capital deficit of EMIS totaled $33.2 million, the accumulated deficit was approximately $465.9 million and the stockholders deficit was $64.5 million. Against a net income of $15.1 million for the year ended December 31, 2011 and a net loss of $56.9 million, excluding the expenses.[BANNER] The management stated that on January 31, 2012, they had $4.2 million cash, however, they are not able to pay the company's deficit. At the same time, EMIS expects to continue to generate significant losses from operations for the foreseeable future. The team claims that their plan is to raise capital when needed and/or to pursue partnering opportunities, though they cannot be sure that their plans will be successful. In other words, unless the company finds a way to obtain additional capital resources, its future operation cannot be guaranteed.
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