Pharmacyte Biotech Inc (OTCMKTS:PMCB) shares were down 13.04% on Wednesday but recovered 1.39% in after-hours trading. Share prices have been trading in a 52-week range of $0.02 to $0.17. The company has a market cap of $96.95 million at 849.90 million shares outstanding.
Pharmacyte Biotech Inc is a clinical-stage biotechnology company that is focused on developing and preparing to commercialize treatments for cancer and diabetes based upon a cellulose-based live cell encapsulation technology known as Cell-in-a-Box. This Cell-in-a-Box technology will be used as a platform upon which treatments for various types of cancer, including advanced, inoperable pancreatic cancer, and diabetes will be developed.
Aside from that, Pharmacyte Biotech is developing therapies for pancreatic and other solid cancerous tumors involving the encapsulation of live cells placed in the body to enable the delivery of cancer-killing drugs at the source of the cancer. It is also developing a therapy for Type I diabetes and insulin-dependent Type II diabetes based upon the encapsulation of a human cell line genetically engineered to produce, store and secrete insulin at levels in proportion to the levels of blood sugar in the human body using its Cell-in-a-Box technology.
Pharmacyte Biotech recently announced that an audio recording of the company’s shareholder call, which was held on February 7 is now available for playback.
I would like to thank everyone who listened to our shareholder call update yesterday. I would also like to apologize for the call abruptly cutting off during the question and answer session. The call stopped at the one-hour mark. That has never happened before. The call was scheduled to continue for one and a half hours. Since we wanted to answer all of the questions that were submitted, we have recorded the balance of the questions and answers,” explained Pharmacyte Biotech CEO Kenneth Waggoner.
The audio recording with remaining questions and answers of the shareholder call can be found here: https://fccdl.in/b0lcv21IV.
Earlier in the year, Pharmacyte Biotech announced its plans to initiate a clinical trial in pancreatic cancer, involving the application of Cell-in-a-Box to go head to head with the current gold standard in pancreatic cancer treatment called gemcitabine. The company has completed a pre-IND meeting with the FDA so it could proceed with the Phase 1 of treatment soon. Once this announcement is made, further bullish upside is expected for the company. This month, the company was granted orphan drug designation for pancreatic cancer treatment.
Pharmacyte Biotech has made a huge upside breakout from its slow downtrend for the most part of 2016, signaling further upside for the stock. Volume has been subdued since the bullish break, leading to some profit-taking and consolidation, but the bullish flag remains intact even as price has pulled back. Buyers could simply be waiting for more updates from the company before taking the stock further north, possibly for another test of the $0.15 mark in the near-term then onto $0.20 and beyond.
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