PharmaCyte Biotech (OTCMKTS:PMCBD) Continues to be Under Selling Pressure: Now What?

Biotech company PharmaCyte Biotech (OTCMKTS:PMCBD), focused on developing cellular therapies for cancer and diabetes, on July 13 announced that post storage for 3 years, the original cytochrome P450 expressing cells from PharmaCyte’s Master Cell Bank (MCB) manufactured by Eurofins Lancaster Laboratories still have excellent enzymatic activity and viable, elements critical for stability. The study is additional and different from the prior positive stability study test of the CypCaps product after storage at -80C.

The enzymatic activity results in activation of low dose ifosfamide in patients cancerous tumors. Hence, robust enzymatic activity demonstrates efficacy of the cells.

Since the MCB cells will be harnessed as resource for production of future batches of PharmaCyte’s clinical trial, they are extremely critical. This is why the U.S. Food and Drug Administration asked for analysis of the stability of the MCB cells.

PharmaCyte’s Chief Executive Officer, Kenneth L. Waggoner, said that it is encouraging signs on the enzymatic activity of cells from the company’s Master Cell Bank after 3 year’s storage.

Kenneth added that the study in the next three years will give maximum stability of cells from the MCB after continuous storage in liquid nitrogen. This will ensure that the company has a resource for future production of theCypCaps.

Market Reaction:

On Tuesday, PMCBD stock fell 21.50% at $6.49 with more than 40k shares, compared to its average volume of 6.62 million shares. The stock had moved within a range of $5.56 – 8.30 after opening the trade at $8.10. Over the past 52-week, the stock has been trading within a range of $0.00 – 13.36.