Pharmacyte Biotech Inc (OTCMKTS:PMCB)

Pharmacyte Biotech Inc (OTCMKTS:PMCB) and Austrianova Sign New Terms

Pharmacyte Biotech Inc (OTCMKTS:PMCB)

Pharmacyte Biotech Inc (OTCMKTS:PMCB) has reached an agreement with Austrianova for the restructuring of certain agreements, pursuant to a previously agreed binding Term Sheet. Investors reacted to the news by sending the stock up.

Shares of Pharmacyte Biotech Inc (OTCMKTS:PMCB) are currently trading in a downtrend in a $0.05 – $0.06 trading range. The stock faces immediate support at the $0.05 mark below which it could register a new 2017 low. Its 52-week low is $0.02, registered last year.

Pharmacyte Biotech Inc (OTCMKTS:PMCB)
One month PMCB stock price chart

Pharmacyte Biotech Inc (OTCMKTS:PMCB) is a clinical stage biotechnology company, focused on the development of treatments for cancer and diabetes. The company also boasts of a Cell-in-a-Box technology acquired as part of a Binding Term Sheet with Austrianova.

Binding Term Sheet Terms

The restructuring of the binding Term Sheet, according to CEO Kenneth L Waggoner, should make it easier for the company to achieve its long term goals. Under the new terms, PharmaCyte will not make any milestone payments under the Asset Purchase agreement, Diabetes Licensing agreement, or the Cannabis Licensing Agreement.

The new terms also reduce the amount of royalty fees and sub-licensing royalty fees that the company will have to make. The new binding Term Sheet also provides PharmaCyte with a year of right-of-first-refusal should Austrianova choose to sell, assign, or transfer Cell-in-a-Box, Intellectual Property, or trade secrets.

“Not only has Austrianova made significant financial concessions, Austrianova has agreed to provide us with a vehicle by which we can acquire Cell-in-a-Box® and its Associated Technologies, including the manufacturing facility that will encapsulate the live cells required for our pancreatic cancer therapy and the other therapies we are developing,” said Mr. Waggoner.

Austrianova has also agreed not to solicit, negotiate, or entertain any inquiry regarding the sale of the Cell-in-a-Box and associated technologies. The Clinical stage biopharmaceutical company has also agreed to share with Austrianova 50% of any financial and non-financial consideration it receives under the asset purchase agreement. Pharmacyte Biotech Inc (OTCMKTS:PMCB) is also to pay Austrianova $150,000 over the next 6 months.

The chief executive officer expects the new binding Term Sheet to strengthen the partnership that has existed between Pharmacyte Biotech Inc (OTCMKTS:PMCB) and Austrianova since it bought the Cell-in-Box technology.

Pharmacyte Biotech Management Appointment

Separately, Pharmacyte Biotech Inc (OTCMKTS:PMCB) has confirmed the appointment of Linda S Sher as the company’s Chief Medical Officer. She joins the company as a professor of Clinical Surgery and Director of Clinical Research at the University Of Sothern California Keck School Of Medicine.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Pharmacyte Biotech Inc (OTCMKTS:PMCB)

Pharmacyte Biotech Inc (OTCMKTS:PMCB) Presents at Conference

Pharmacyte Biotech Inc (OTCMKTS:PMCB)

Pharmacyte Biotech Inc (OTCMKTS:PMCB), based in Laguna Hills, CA, announced that its Chief Executive Officer, Kenneth L. Waggoner, will present PharmaCyte’s therapy for pancreatic cancer at the 2017 BIO International Convention (BIO). BIO is to be held June 17-22, 2017 in San Diego, California at the San Diego Convention Center. This year’s theme is “Breakthrough,” which is designed to highlight the breakthrough leadership, technology and science that happens every day in the biotechnology industry.

Pharmacyte Biotech Inc (OTCMKTS:PMCB) uses proprietary cellulose-based live cell encapsulation technology to develop treatments for cancer and diabetes. Their proprietary technology is commonly known as “Cell-in-a-Box” and involves encapsulating genetically engineered cells that convert the prodrug ifosfamide from its naturally inactive form into a “cancer killing” form. The encapsulated live cells are then implanted, as close as possible, to the cancerous cells. When the ifosfamide comes in contact with the encapsulated live cells, they act as an artificial liver and activate the ifosfamide at the source of the cancer. For diabetes, PharmaCyte is developing a treatment for Type 1 diabetes and insulin-dependent Type 2 diabetes. Pharmacyte Biotech Inc (OTCMKTS:PMCB) plans to encapsulate a human cell line that has been genetically engineered to produce, store and release insulin in response to the levels of blood sugar in the human body.

From April 30, 2016 to January 31, 2017 Pharmacyte Biotech Inc (OTCMKTS:PMCB) increased its total assets bringing that line item to $7.6 million. During that same time period, liabilities decreased from $637,639 to $578,267. At the end of January, 2017, total stockholder equity was listed at just over $7 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $PMCB and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.