43.3 F
New York
Friday, January 15, 2021

Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT) Gets a Fresh Start

Must read

American Battery Metals Corp (OTCMKTS:ABML) Hitting Key Milestones

Over the course of the past week, American Battery Metals Corp (OTCMKTS:ABML) has been in focus among investors after the company announced...

American Green Inc (OTCMKTS:ERBB) Stock Gains Momentum on Amazon News

One of the more interesting operators in the cannabis space in 2020 is American Green Inc (OTCMKTS:ERBB), and this week, the company...

DSG Global Inc (OTCMKTS:DSGT) Hits Multi-Month High On Sudden Optimism

DSG Global Inc (OTCMKTS:DSGT) has been in the news over the past week or so after the company placed large orders through...

AppYea Inc (OTCMKTS:APYP) Stock Gains Momentum on High Volume

Over the past couple of weeks, many stocks in the over-the-counter market have recorded considerable gains and one of the notable ones...

Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT) is a development-stage biopharmaceutical company looking to find some momentum with a fresh start on the OTC. Provectus must now show investors that it has a concrete plan to get back on track. On Oct. 17, shares of the company began trading in the OTC markets after receiving a de-listing notice from the NYSE on Oct. 13 due to the “abnormally low” trading price of its common stock.

Shares of the company are currently trading near $0.04, well below the $1.00 minimum required by the NYSE. The current market capitalization of the company stands at $10M.

Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT) is a development-stage biopharm company. The Company is engaged in developing pharmaceuticals for oncology and dermatology indications. The Company is focused on developing its prescription drug candidates, PV-10 and PH-10.

Not surprisingly, after the recent developments, the company’s management has been making the rounds in the media, telling people that they have a plan to get back their NYSE listing. To do so they must line up enough financing to get their potentially revolutionary cancer therapies finally approved by regulators.

Part one of that plan is to convene a meeting of the company’s shareholders on November 14 and convince them to approve a reverse stock split. In this reverse stock split, 10 to 50 shares of the company would be combined and re-packaged into a single share. The sole goal, of course, is to get the company’s stock price high enough to get back the NYSE listing.

Part two of that plan is to line up enough financing from partners to get the company’s two prescription drug candidates, PV-10 and PH-10, on the way to regulatory approval. The interim CEO of PVCT, Peter Culpepper, said that the low stock price has “nothing to do with the fundamentals of the company” and that the challenges facing PVCT are the same ones facing other small, developmental-stage pharmaceutical companies.

Remember – back in May 2014, shares of the company debuted on the NYSE at $2.85, so the potential value is there.

Find out when $PVCT reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

There are two main drug candidates keeping an eye on. One is PV-10, which is a stable injectable form of rose Bengal disodium for treating metastatic melanoma, liver cancer and breast cancer. The other is PH-10, which treats psoriasis and atopic dermatitis (a type of eczema). In addition, the company is working on several over-the-counter products that do not require a doctor’s prescription.

Of these two drug candidates, the big one that really has the potential to boost the company is PV-10. PVCT describes this drug as “a new front in the war against cancer.” With PV-10 and related therapies, it might be able to target and destroy the deadliest cancers, including liver and breast cancer. This is obviously a huge market opportunity, but the key is getting regulatory approval.

Investors are also keeping a close eye on the company’s cash position. As of June 30, total cash on hand was $4.9 million. This marks a nearly $10 million decline from the level of $14.2 million on December 31, 2015. Thus, over a six-month period, the company has managed to burn through almost $10 million in cash.

It’s easy to see why the company is eager to line up financing from partners, but that probably won’t happen until it gets back its NYSE listing. The next big catalyst for the company, then, could be the shareholders meeting on November 14. If the reverse stock split is approved, then the company could be well on its way to regaining its NYSE stock listing. That would make it easier to approach partners for financing and funding, and that would help to mitigate the cash burn at PVCT.

Obviously, there are a lot of moving pieces here. But given the company’s potential ability to bring life-saving cancer therapies and treatments to market, investors are hopeful that shares of PVCT could be headed higher sooner rather than later. For more news on Provectus Biopharmaceuticals, Inc. and other fast-moving penny stocks, please subscribe to OracleDispatch.com now.

Latest article

Ozop Energy Solutions Inc (OTCMKTS:OZSC) Remains Volatile: Stock in Focus

Those who are looking to discover stocks that may have made big moves over the course of the past week could consider...

Data Storage Corp (OTCMKTS:DTST) Gets Sudden Attention: What’s The Buzz?

One of the stocks to have made significant gains this week was that of Data Storage Corp (OTCMKTS:DTST). The Data Storage Corporation...

A Closer Looks at American Battery Metals Corp (OTCMKTS:ABML) Developments

American Battery Metals Corp (OTCMKTS:ABML) is one of the stocks to have been in focus among investors over the course of the...

Why is Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) In a Bearish Trend?

The Bitcoin rally over the past weeks has taken the crypto space by storm. However, it should not be forgotten that Ethereum,...

Curaleaf Holdings (OTCQX:CURLF) Continues to Hit New Highs: Next Move?

The cannabis sector has had its ups and downs over the last year, but there are certain stocks that are almost always...