Welcome to our dedicated page for Preveceutical news (Ticker: PRVCF), a resource for investors and traders seeking the latest updates and insights on Preveceutical stock.
PreveCeutical Medical Inc. (OTCQB: PRVCF) is a health sciences company that regularly issues news on its preventive and curative therapy programs, corporate developments and proposed corporate transactions. Company news provides insight into its research pipeline, including dual gene therapy for diabetes and obesity, the Sol-Gel nose-to-brain (N2B) delivery platform, Nature Identical™ peptide programs, nonaddictive analgesic peptide candidates and concussion-related therapeutic concepts.
Recent announcements have highlighted appointments of experienced scientific and industry advisors, such as corporate advisors and technology leaders who bring backgrounds in drug discovery, metabolic disease research, molecular genetics and clinical development. These updates help investors and observers understand how PreveCeutical is building expertise around its programs and advancing toward development and potential commercialization.
News releases also cover the evolution of the Sol-Gel N2B platform, including a program aimed at delivering dopamine and/or its precursor L-Dopa directly to the brain in the context of Parkinson’s disease. The company has described this platform as designed to bypass the blood-brain barrier, with the goal of improving drug bioavailability and reducing systemic side effects.
Another recurring theme in PreveCeutical’s news is its relationship with BioGene Therapeutics Inc., a wholly owned subsidiary focused on metabolic health and gene-based treatments. The company has announced a proposed plan of arrangement under which it intends to distribute up to 12,000,000 BioGene common shares to PreveCeutical shareholders, and meeting materials and court orders related to this arrangement have been reported in its news flow.
Investors and researchers following PRVCF news can use this page to review updates on research milestones, advisory and executive appointments, meeting dates, and the progress of the proposed BioGene share distribution, all drawn from official company announcements.
PreveCeutical Medical provides an update on its Management Cease Trade Order (MCTO) issued by the British Columbia Securities Commission (BCSC) due to a delay in filing its audited annual financial statements for 2023. The delay was caused by a lack of funds, but the company has now engaged Smythe LLP and expects to file the statements by June 28, 2024.
The company also completed the first tranche of a non-brokered private placement, raising $115,000 through the sale of 4,600,000 units at $0.025 per unit. The funds will be used for working capital, including audit fees. Until the filings are complete, the company will issue bi-weekly updates. Trading in the company's shares will continue for the general public, but insiders and officers are restricted. The company is not subject to insolvency proceedings.
PreveCeutical Medical has provided an update on the Management Cease Trade Order (MCTO) issued by the British Columbia Securities Commission due to the company's delay in filing its annual financial statements for the year ended December 31, 2023. The delay was caused by a lack of funds to engage auditors. The company has now engaged Smythe LLP and expects to file the required documents by June 28, 2024. During this period, the CEO, CFO, and certain other officers cannot trade in the company's shares. The general public can continue to trade them. PreveCeutical also plans a private placement to raise up to $250,000 for working capital, including audit fees.
PreveCeutical Medical Inc. announces a Management Cease Trade Order due to missing the deadline for filing annual financial statements. The Company applied for a MCTO as a result of a lack of funds preventing completion of the audit on time. PreveCeutical expects to file the Annual Filings by June 28, 2024, and will provide bi-weekly default status reports until then. Additionally, the Company plans a private placement to raise $250,000 for working capital purposes.
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