Pharmacyte Biotech Inc Stock Price, News & Analysis

PharmaCyte Biotech (OTCQB: PMCB) announced the completion of production and shipping of test materials for biocompatibility studies as requested by the FDA. The CypCaps product, a refinement of earlier encapsulated cells, will undergo studies conducted by a Contract Research Organization. CEO Kenneth L. Waggoner noted that the most crucial study has commenced, aiming for compliance with FDA requirements by Q4 this year. Additionally, the recent reverse stock split aims to help the company uplist to Nasdaq, which requires the stock to trade above $4.00 for ten trading days.

PharmaCyte Biotech, Inc. (OTCQB: PMCBD, PMCB) announced that its original cytochrome P450 expressing cells from its Master Cell Bank have retained viability and enzymatic activity after three years in liquid nitrogen. This data is vital for the ongoing development of its CypCaps product, a treatment for cancer utilizing encapsulated cells to activate chemotherapy drugs like ifosfamide efficiently.

The study will continue for three more years to ensure the stability of these cells for future clinical trials.

PharmaCyte Biotech (OTCQB: PMCB) announced that its cytochrome P450 expressing cells from the Master Cell Bank, stored for three years in liquid nitrogen, retain viability and excellent enzymatic activity. This is crucial for the effectiveness of its CypCaps cancer therapy, which activates ifosfamide to combat tumors. The stability of these cells, requested by the FDA, is vital for future clinical trials. CEO Kenneth L. Waggoner expressed satisfaction with the results, emphasizing ongoing studies to ensure maximum stability for future CypCaps production.

PharmaCyte Biotech, Inc. (OTCQB: PMCB) announced a 1-for-1,500 reverse stock split, reducing its outstanding shares from approximately 2.4 billion to about 1.6 million. This adjustment will facilitate easier trading and positioning for a potential listing on a national exchange like Nasdaq. The reverse split is effective July 12, 2021, with a temporary ticker symbol 'PMCBD' for 20 business days. Proportional adjustments will be made to stock options and warrants. The company aims to enhance financing activities and support product development with this strategic move.

PharmaCyte Biotech, Inc. (OTCQB: PMCB) announced that all four proposals presented at its 2021 Annual Meeting of Stockholders passed. The meeting, held on June 16 and adjourned until June 30, resulted in:

• Election of seven directors for one-year terms.
• Approval to increase the number of authorized shares.
• Approval of the 2021 Equity Incentive Plan.
• Ratification of Armanino LLP as the independent accounting firm for the fiscal year ending April 30, 2022.

This progress supports the development of their cellular therapies for cancer and diabetes.

PharmaCyte Biotech (OTCQB: PMCB) is actively addressing a U.S. FDA clinical hold to advance its Phase 2b trial for locally advanced pancreatic cancer (LAPC). Since the clinical hold notification on October 1, 2020, the company has undertaken extensive studies, including product stability tests and biocompatibility assessments. CEO Kenneth L. Waggoner emphasized the length and complexity of the required studies but expressed commitment to resolving FDA concerns. The company's innovative CypCaps therapy aims to target pancreatic cancer effectively, making strides toward resuming clinical trials.

PharmaCyte Biotech (OTCQB: PMCB) announced that a majority of its shareholders voted in favor of increasing the authorized number of shares of common stock, essential for the ongoing development of its pancreatic cancer therapy. The Annual Shareholder Meeting on June 16, 2021, also saw other proposals pass. The official vote results will be disclosed during the reconvened meeting on June 30, 2021. CEO Kenneth L. Waggoner expressed gratitude for shareholder support, emphasizing the importance of Proposal No. 2 for the company’s viability and therapy progress.

PharmaCyte Biotech (OTCQB: PMCB) has announced the adjournment of its 2021 Annual Meeting of Stockholders to June 30, 2021, to allow more time for voting on Proposal No. 2, which seeks to increase the authorized shares of capital stock. CEO Kenneth L. Waggoner emphasized the importance of this proposal for the company's viability and continued development of its pancreatic cancer therapy. Currently, over 49% of shares have voted in favor, but over 50% is needed for approval. The meeting will be held virtually.

PharmaCyte Biotech (OTCQB: PMCB) will hold its Annual Meeting of Shareholders virtually on June 16, 2021, at 11:00 A.M. PDT. Shareholders should have received a Proxy Statement with four proposals to vote on, including a critical one for the development of its pancreatic cancer treatment. CEO Kenneth L. Waggoner emphasized the importance of voting 'yes' for ongoing viability and clinical progress. The meeting will provide updates on addressing FDA requests for the clinical hold on their pancreatic cancer therapy and discuss other company matters.