One OTC stock that just spiked sharply to the upside this week is Pharmacyte Biotech Inc (OTCMKTS:PMCB). Helping to drive the story, the company just announced that it has a clinical trial product, a clinical trial protocol, including a clinical trial design, a Principal Investigator, and the company is ready to present its treatment for locally advanced, inoperable pancreatic cancer (LAPC) to the U.S. FDA in an effort to secure approval to begin a Phase 2b clinical trial in LAPC.
According to the release, LAPC is a hard-to-treat disease that leaves patients with very little hope after first-line therapies, Abraxane plus gemcitabine or FOLFIRINOX, no longer offer any benefit to this patient population. The company’s Chief Operating Officer, Dr. Gerald W. Crabtree, said of this group of patients, “Here we have a cadre of patients that are virtually untreatable. They respond to a certain degree to first-line treatment and then can no longer respond, and there they sit with very little option for further response.”
Pharmacyte Biotech Inc (OTCMKTS:PMCB) trumpets itself as a clinical stage biotechnology company that focuses on developing and commercializing cellular therapies for cancer and diabetes in the United States.
Its cellular therapies are developed based on Cell-in-a-Box, a proprietary cellulose-based live cell encapsulation technology used as a platform to treat various types of cancer, including advanced and inoperable non-metastatic pancreatic cancer, as well as 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 activation of cancer-killing drugs to the source of the cancer. It is also developing a therapy for Type 1 diabetes and insulin-dependent Type 2 diabetes; and therapies for cancer based on the constituents of the cannabis plant.
PharmaCyte Biotech, Inc. has a research agreement with the University of Technology, Sydney to create a version of melligen cells to treat diabetes; and a research agreement with the University of Northern Colorado to develop methods for the identification, separation, and quantification of constituents of cannabis.
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 Laguna Hills, California.
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As noted above, PMCB just announced that it has a clinical trial product, a clinical trial protocol, including a clinical trial design, a Principal Investigator, and the company is ready to present its treatment for locally advanced, inoperable pancreatic cancer (LAPC) to the U.S. FDA in an effort to secure approval to begin a Phase 2b clinical trial in LAPC.
We’ve witnessed 33% during the past week in terms of shareholder gains in the listing. In addition, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running nearly 110% above its longer-run average levels.
PharmaCyte’s Chief Scientific Officer, Prof. Dr. Walter H. Günzburg, says, “We’ll be placing those 300 capsules angiographically into the pancreas just upstream of the tumor. The idea being that blood will then come in, bring the non-active prodrug, ifosfamide, to the capsules, and the drug will then be converted inside the capsules to its active form and the prodrug will stream directly into the tumor, so this gives the highest possible concentration of the tumor-killing drug actually at the site of the tumor.”
Now commanding a market cap of $61M, PMCB has a chunk ($328K) of cash on the books, which is balanced by about $607K in total current liabilities. The company is pre-revenue at this point. We will update the story again as soon as further details emerge. Sign-up for continuing coverage on shares of $PMCB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $PMCB, either long or short, and we have not been compensated for this article.