Pharmacyte Biotech Inc Stock Price, News & Analysis

PharmaCyte Biotech (NASDAQ: PMCB) has successfully closed a public offering, raising approximately $15 million. The offering included 3,529,412 shares of common stock and warrants for the same number of shares, with net proceeds of about $13.6 million after deductions. The underwriter, H.C. Wainwright, received an option for an additional 529,411 shares and has partially exercised it. PharmaCyte focuses on developing therapies for cancer and diabetes using its Cell-in-a-Box technology.

PharmaCyte Biotech, Inc. (NASDAQ: PMCB) has announced the commencement of trading on The Nasdaq Capital Market starting August 10, 2021. The company priced an underwritten public offering of 3,529,412 shares at $4.25 each, yielding approximately $15 million in gross proceeds before expenses. This offering includes warrants exercisable for additional shares and a 30-day option for underwriters to purchase more shares. The offering aims to support PharmaCyte's development of innovative therapies for cancer and diabetes using its Cell-in-a-Box^® technology.

PharmaCyte Biotech has received approval from Nasdaq to list its common stock under the symbol “PMCB.” The company plans to conduct an underwritten public offering of its common stock, which may include pre-funded warrants. H.C. Wainwright will manage the offering, which might also include a 30-day option for the underwriter to purchase additional shares. The proceeds will fund activities to address the FDA's clinical hold on its Investigational New Drug application for a Phase 2b trial in pancreatic cancer and for general working capital.

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.