Propanc Biopharma (OTCMKTS:PPCB) Stock Continues to Trend Lower: Down 13% in a Week
Shares of Propanc Biopharma (OTCMKTS:PPCB) continued to move lower in the previous trading session, extending its weekly fall to 13%.
Market Stats
On Wednesday, PPCB stock slid 4.80% at $0.0278 with more than 220k shares, compared to its average volume of 566k shares. The stock has moved within a range of $0.0264 – 0.0315 after opening the trade at $0.0315.
Appoints Paul Patrizio as Strategic Advisor
Propanc Biopharma (OTCMKTS:PPCB) that develops novel cancer treatments for patients suffering from recurring and metastatic cancer has appointed Paul Patrizio as Strategic Advisor to the Propanc Executive team. He will report directly to James Nathanielsz, who is presently serving as the CEO.
As of now, Propanc Biopharma is busy setting up a wholly owned US based, R&D operating subsidiary, Cellmed Bio LLC in New Jersey, one of the largest biotech hubs in the country. Mr. Patrizio is responsible for overseeing the establishment of this facility, while also identifying strategic partners to assist with the financing and resourcing of the US R&D operating subsidiary to the company’s lead product candidate, PRP.
PRP is all set to enter a First-In-Human (FIH) study for advanced cancer patients suffering from solid tumors. It is a long-term therapy that aims towards treating and preventing metastatic cancer by targeting and eliminating cancer stem cells. The best part is this therapy is without the adverse side effects usually associated with standard treatments.
Mr. Patrizio is thrilled about the potential breakthrough technology being developed at Propanc. He is looking forward to working with the Executive team and advancing the PRP to the clinical development stage, via the establishment of Cellmed Bio LLC. It is a crucial part of both short and long term goals for the company.
Key Quote
“Paul represents a significant and welcome appointment as Strategic Advisor to the Propanc Executive team. His role will be key in establishing our presence in the US, as well as unlocking significant value from our intellectual property portfolio as we transform our R&D operating subsidiary Cellmed Bio LLC into a clinical stage, immuno-oncology player with a unique approach for the treatment and prevention of metastatic cancer, the main cause of patient death for sufferers,” stated Mr. Nathanielsz. “I am excited to be working closely with Paul in executing our corporate restructure and look forward to the immediate future with much anticipation. His many years of experience and extensive networks in the New Jersey/New York metropolitan region will be vital to our success.”
Traders Corner
PPCB stock is trading below the 20-Day and 200-Day Moving averages of $0.0316 and $0.0415 respectively. Moreover, the stock is trading above 200-Day moving average of $0.0219. The stock is down 24% in the past 3-month.
