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Friday, January 22, 2021

A Long Game of Patience in Pharmacyte Biotech Inc (OTCMKTS:PMCB)

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Pharmacyte Biotech Inc (OTCMKTS:PMCB) is a stock that’s been undergoing heavy and persistent distribution since 2014 with an acceleration of that bear market pressure over recent months. However, the company’s CEO has begun to explicitly talk things up, which can sometimes make a difference in a quiet biotech, and we have some big catalysts ahead, such as four upcoming state votes that will bear on the market size the company is attacking in its medical marijuana segment.

While PMCB has a history of some amazing upward bounces, recent action has not been kind, with the stock shedding -10% in just the past week of action. That selling may be near capitulation as the stock has seen a jump in recent trading volume to the tune of 71% above the average volume levels in play over the longer term.

Pharmacyte Biotech Inc (OTCMKTS:PMCB) frames itself as a clinical stage biotechnology company that focuses on developing and commercializing treatments for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology, known as Cell-in-a-Box. Its Cell-in-a-Box technology would be used as a platform to treat various types of cancer, including advanced and inoperable pancreatic cancer, and diabetes.

The company 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 1 diabetes and insulin-dependent Type 2 diabetes; and examining the benefits of the Cell-in-a-Box technology to develop therapies for cancer based upon the constituents of the Cannabis plant.

The company was formerly known as Nuvilex, Inc. and changed its name to PharmaCyte Biotech, Inc. in January 2015. PharmaCyte Biotech, Inc. was founded in 1996 and is based in Silver Spring, Maryland.

As noted above, the CEO recently addressed shareholders. It must be obvious folks are starting to get a little nervous here, especially given that he opened with, “We understand that shareholders are frustrated with our current share price; however, the share price doesn’t reflect where PharmaCyte is today.”

Kenneth L. Waggoner continued, “We have surrounded our technology with some of the best minds in the industry and we have put together a team that is working diligently every single day to get PharmaCyte in front of the U.S. Food and Drug Administration (FDA) so that we can clear the final hurdles that will allow us to begin our clinical trial in advanced pancreatic cancer. There are numerous moving parts on many fronts. Just because our shareholders aren’t seeing news on a weekly basis, this does not mean there isn’t a flurry of work being done every single day.”

That’s an interesting point. But I’m sure shareholders are looking for more.

The catch is this: “It is important for our shareholders to realize that PharmaCyte’s pancreatic cancer therapy is classified by drug regulatory authorities as a ‘biologic’ rather than a single molecule drug or a New Chemical Entity (NCE). This is because our therapy involves the use of living, genetically altered human cells. The overall development process is much more involved and more complex for a biologic than an NCE.”

One thing we have learned over the years is that time and complexity are risk points discounted by price. It is clear that the Company did not adequately prepare the market for these risk points, and they are being actively discounted now.

One bright spot is the Company’s medical marijuana segment. We just learned that the Company’s research on medical cannabis for brain cancer is being done at the University of Northern Colorade. UNCO has now obtained all of the necessary approvals and has now received research Cannabis to enable it to advance PharmaCyte’s program. This comes just in front of votes in 4 states in November, 2016 to potentially dramatically expand the market size available to that program in the future. However, once again, any type of revenues seem woefully far off on the horizon.

Now commanding a market cap of $1.5M, PMCB has a decent store ($2.34M) of cash on the books, in a pool of total assets topping $7.5M, which is balanced by almost no total accumulated debt. That said, the company also has no revenues. And as far as we can see, it’s going to be a long, long time before that changes. This is big leap of faith by investors. And the time and complexity risk factors are now actively being priced into shares. The float is huge here, so a bounce may not be worth a whole lot unless something important changes. There are some things that might fit that bill, but you’ll have to keep tuning in here to catch our next update on this story. To get the full story on PMCB subscribe below to Oracle Dispatch right now.

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