Provectus Pharmaceutical, Inc. (OTCMKTS:PVCT)’s Upward Run
Provectus Pharmaceutical, Inc. (OTCMKTS:PVCT) is one of the pharmaceutical companies in the OTC markets that looks like it can have a bright future. After PVCT‘s stock reached as high as $5.22 per share in January, with a good run that started in the end of 2013 the stock crashed and fell below $2, but is slowly making a recovery.
There were some optimistic news on March 6 about the tests of their PV-10 cancer treatment drug and its unprecedented effects on advanced melanoma that started an upward run, but the percentile movements were small until yesterday’s 18% gain that led PVCT to $2.546 per share.
Yesterday, the company announced that the melanoma version of PV-10 is being prepaired for Breaktrough Therapy Designation Drug Submition with the FDA, results from which should be available 60 days after the request has been submitted.
Also, the company filed their annual report for the yearly period ended December 31, 2013 and the numbers contained in it seem good.
- cash: $15.6 million
- total assets: $20 million
- current liabilities: $512 thousand
- total liabilities: $13.3 million
- revenues: $0
- net loss: $27 million
Even though the net loss for the period is a lot larger than the cash the company has on hand at the moment it seems that the current assets will be enough to support the company until they get an approval from the FDA if nothing goes wrong.
Furthermore, the phase 1 trials of PV-10’s breast and liver cancer versions are completed and they are being prepaired for phase 2. Still, things might go wrong if PV-10’s melanoma version doesn’t get approved and the stock might crash again, just like it did in January.
This is reason enough for you to do your due diligence and weigh out the risks before making a decision to invest in PVCT.
Yesterday, Growlife, Inc. (OTCBB:PHOT) managed to recover some of the value it had lost in Wednesday with a 7% gain. Hemp, Inc. (OTCMKTS:HEMP) isn’t doing so good and registered a second session in the red.