PharmaCyte Biotech, Inc. (OTCMKTS:PMCB)’s Recovery Didn’t Last
PharmaCyte Biotech, Inc. (OTCMKTS:PMCB) had a nice little bounce on Wednesday, but yesterday’s trading session nearly wiped all of its gains, in spite of the investors’ relative inactivity.
This state of developments is not exactly unexpected for investors that have kept a close eye on PMCB in these last few months.
The company claims to be making progress, and with regard to its scientific research it may well be – and that is certainly working to its advantage. The Cell-in-a-Box is an interesting technology that has online analysts ecstatic over its potential for helping insulin-dependent diabetes patients live without daily insulin injections.
Unfortunately, the company represents more than just boundless opportunity. Due diligence on it reveals that it is a risky investment, as it is far from financially sound:
- Cash – 958 thousand
- Total liabilities – $378 thousand
- NO REVENUES
- Quarterly net loss – $1.45 million
Those numbers are bad enough, but it is probably the constant barrage of paid pumps that has eroded investor confidence in PMCB over the last few months the most. Unfortunately for opportunistic traders, prolonged paid pumps have a tendency to lose their potency.
After more than 100 tоuts in 2015 alone, this seems to be what has happened to PMCB. Now it seems that even Microcap Daily’s ridiculously optimistic commentary seems in capable of changing that state of developments.