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.
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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.