{"id":5046,"date":"2014-10-31T14:12:10","date_gmt":"2014-10-31T14:12:10","guid":{"rendered":"\/?p=5046"},"modified":"2014-10-31T14:12:25","modified_gmt":"2014-10-31T14:12:25","slug":"arno-therapeutics-inc-otcmktsarni-hits-52-week-low","status":"publish","type":"post","link":"\/articles\/arno-therapeutics-inc-otcmktsarni-hits-52-week-low\/","title":{"rendered":"Arno Therapeutics, Inc. (OTCMKTS:ARNI) Hits 52-Week Low"},"content":{"rendered":"\n

After a month of very slow trading and nearly ten days with zero share volume, on Wednesday Arno Therapeutics, Inc. (OTCMKTS:ARNI<\/a>) suddenly shifted 450 thousand shares. As a result, the company’s share price dropped over 23% to a close of $0.88 at the bell.<\/p>\n

The company is a biopharma with three main products focusing on breast cancer and solid tumors. Press releases are coming out on a frequent basis, informing of goings on with the product pipeline. On October 27 ARNI<\/a> informed that its flagship product – onapristone – into the expansion stage of Phase I trials. Additionally, the Phase II dosage of the drug has been determined too. This news was met with next to no enthusiasm as ARNI<\/a> traded less than 1000 shares on the same day and was completely flat at zero trades on the next.<\/p>\n

The company next informed that it will present at the 5th annual conference for clinical affairs and regulatory approvals. This seemed to elicit a much more enthusiastic market response, as ARNI<\/a> traded more shares yesterday than it had over the past two months combined. Shortly after noon the price took a dramatic nose dive on very low share volumes. An attempt at recovery fizzled despite a spike in volume and the stock tumbled to its close, 23% in the red. Here is what the company had to show as of its latest 10-Q:<\/p>\n