Pharmacyte Biotech Inc (OTCMKTS:PMCB) gained a staggering 28.73 percent to close at 0.147. More than 12.69M shares exchanged hands in what is thought to be a short squeeze initiated by a paid newsletter at BrilliantPennyStocks.com. We have seen several stocks touted by this paid awareness group in the past mainly on stocks trading on NASDAQ exchange.
Earlier, an independent analyst rated a price target of $1.80 on PMCB with a speculative buy rating (HERE). PMCB owns exclusive rights to a technology that could emerge as the first universal therapy and treatment of choice for multiple cancers and diabetes, potentially worth billions in annual sales down the road. The high profile and coveted Orphan Drug designation was granted by the FDA in December, 2014 to PMCB’s pancreatic cancer treatment.
According to the company, favorable legacy and updated results from early- mid-stage pancreatic cancer clinical trials will be followed by the commencement of a Phase 2b clinical trial in 2H15. PMCB seems to be backed up by some high profile name in the field of cancer research. Preclinical trials for abdominal cancers using the Company’s platform technology were designed, in part, by the leading authority on pancreatic cancer, Dr. Daniel Von Hoff, and conducted by America’s leading Contract Research Organization that specializes in oncology.
This substantially raises the PMCB profile and could result in future, fast-tracked trials. Further, it seems PMCB management Management is actively engaged in pursuing the use of compounds from the Cannabis plant (known as “cannabinoids”) in combination with its Cell-in-a-Box® platform technology to treat deadly cancers where there are no substantially effective treatments on the market. With the current interest from the trading and investing community it seems that PMCB’s stock is overlooked and undervalued, relative to its peer group.
Other notable bulls in the Cannabis sector include Totally hemp crazy (OTCMKTS:THCZ), Inergetics Inc (OTCMKTS:NRTI), Terra Tech Corp (OTCMKTS:TRTC)