Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT)
Knoxville, TN-based Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT) develops treatments for the oncology and dermatology medical sectors. Its two lead drug candidates are PV-10 and PH-10. PV-10 is being developed for the treatment of several life-threatening cancers such as metastatic melanoma, liver cancer, and breast cancer. PH-10 is being developed as a minimally invasive treatment for chronic skin conditions such as psoriasis or eczema.
Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT) believes in collaboration when it is in the interest of the patients, the scientific, and commercial development of their therapies and Provectus shareholders. Accordingly they have formed collaborative efforts with the Pediatric Oncology Experimental Therapeutics Investigator’s Consortium (POETIC), Pfizer, and Boehringer Ingelheim. Provectus has entered into a joint research agreement with POETIC for their drug candidate PV-10 as a potential treatment for childhood cancers. Their collaboration with Pfizer led to a patent for PV-10 in combination with systemic inhibitors of immune system down-regulation, PD-1, and PD-L1 antibodies. Provectus and Beohringer Ingelheim signed a letter-of-intent in the summer of 2015 for the purpose of bring PV-10 to market in China, Taiwan, and Hong Kong.
PV-10, Provectus’ lead drug candidate in currently in ten trials ranging from pre-clinical to Phase 3. The indications include locally advanced melanoma, liver cancer, recurrent breast carcinoma, and pediatric solid tumors amongst others.
Last week, Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT) announced the re-establishment of the company’s Strategic Advisory Board (SAB). The SAB is led by Dr. John W. Lacey III and Ed Pershing. Mr. Pershing will also begin serving, as an observer, to the company’s Board of Directors. Dr. Lacey operated his personal internal medical practice for 32 years and was also the former Chief Medical Officer and Senior Vice-President of the University of Tennessee’s Medical Center. Dominic Rodrigues, Chairman of the Board of Provectus, said, “Provectus is extremely fortunate to gain the involvement of Dr. Lacey, who is widely recognized as having left a profound and lasting legacy at University of Tennessee Medical Center, as a physician, a chief medical officer, a business executive, and a team and community leader.”
Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT), for FY2016, listed $5.6 million in total assets and $2.1 million in current liabilities and had no long term liabilities. Total stockholder equity was $3.47 million. YTD, PVCT shares have performed exceptionally well – up over 170%.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance