Pharmacyte Biotech Inc (OTCMKTS:PMCB) Surges
tags: PMCB
Pharmacyte Biotech Inc (OTCMKTS:PMCB) has had a hard time last month. After managing to keep its value around 7 cents per share for quite some time we saw the ticker begin to slide down the charts and lose a significant amount of altitude.
It then stabilized around the 5 cent per share mark and made several attempts at recovery, while the daily volumes increased. The company’s market cap has dropped below $50 million by now, which is rather decent for an OTC biotech. Meanwhile, the latest financial report, covering the quarterly period ended January 31, contains the following numbers of prime interest.
- cash: $2.86 million
- current assets: $2.87 million
- current liabilities: $1.06 million
- revenues: ZERO
- net loss: $1.79 million
Those numbers are fairly decent and seem enough to support the company through its operations for the time being. Still, PMCB isn’t very close to commercializing its product and there is still a lot hanging on the line.
Two days ago PMCB announced that it will hold a shareholder conference on July 28, providing the latest information about the company’s clinical development program, as well as answering any shareholder and analyst submitted questions.
This might be the reason for the recent positive movement of the company stock. Yesterday we saw PMCB gain another 6.20% in value and close at $0.058, while a total of 1.81 million traded shares generated $106 thousand in daily dollar volume.
The volatility that PMCB has experienced in the past, however, should be reason enough for you to do your due diligence and weigh out the risks before putting any money on the line.
