Propanc Biopharma Inc. (OTCMKTS:PPCB) Stock Sees Selling Pressure After Latest News
Propanc Biopharma Inc. (OTCMKTS:PPCB) down 5% in a week. The company has announced that its joint research collaboration with the Universities of Granada and Jaen, Spain is into its 13th year since the partnership started in 2009. Jaen University’s Professor Macarena Peran is leading the research partnership assisted by University of Granada’s Professor Juan Marchal and the company’s CEO Dr. Julian Kenyon.
Market Stats
On Wednesday, PPCB stock moved down 0.25% to $0.0199 with more than 20K shares, compared to its average volume of 454K shares. The stock moved within a range of $0.0199 – 0.0212 after opening trading at $0.0212.
Propanc Biopharma’s Joint Research Partnership with the Universities of Jaén and Granada Enters 13th Year
The company’s lead product candidate, PRP, has advanced to a First-In-Human clinical trial. Plans are underway to create a backup clinical product candidate from the POP1 partnership research and drug discovery initiative under the long-term collaboration with the universities and also cooperate with contract manufacturing organizations (CMOs) and contract research organizations (CROs).
Since its inception, the research collaboration has aided the company’s drug development efforts from discovery through clinical-stage, elucidating the anti-cancer impacts of proenzymes, particularly against cancer stem cells (CSCs), gene expression changes related to metastasis and oncogenesis in CSCs, therefore stopping cancer spread. So, PPCB is worth watching.
Key Quote
“The joint research partnership with the Universities of Jaén and Granada has been critical for the advancement of our drug development program at Propanc Biopharma,” said Dr. Julian Kenyon. “I am grateful for their tireless efforts, led by Professor Perán, supported by Professor Marchal, whose capabilities and expertise in the field are impressive. As we advance towards our First-In-Human study in advanced cancer patients for our lead product candidate, PRP, I am excited about our ongoing efforts to further elucidate the effects of proenzymes and identify any additional patentable discoveries. We continue to devote ourselves to this project because we believe PRP has the potential to unlock the uncontrolled spread of malignant tumors, the main cause of patient death for cancer sufferers.”
Traders Corner
PPCB stock is trading below the 20-Day and 200-Day Moving averages of $0.0220 and $0.0411 respectively. The stock is trading in neutral zone with the RSI at 45.
