Pharmacyte Biotech Inc (OTCMKTS:PMCB) goes for a jump after Goldman Small Cap Research released a research update on the healthcare company. The research firm’s analyst Rob Goldman mentioned in his report that a recent research paper has set the stage for Pharmacyte to move over to first human clinical trials for diabetes.
Update from Goldman research firm
The research updated centered around the biggest development that took place earlier this week, when a member of the company’s International Diabetes Consortium established that the company’s live-cell encapsulation technology can reverse Type 1 diabetes (T1D). The research paper published in the journal named ‘Molecular Therapy’ showed evidence that T1D was reversed in a diabetic mice through transplantation of insulin-producing Melligen cells. However, the effectiveness of these Melligen cells can only be achieved through encapsulating them using Pharmacyte Biotech Inc (OTCMKTS:PMCB)’s Cell-In-A-Box technology.
Further, the trials have moved to the next stage to confirm that the company’s technology keeps the sanctity of the Melligen cells intact. Once proven, Pharmacyte Biotech Inc (OTCMKTS:PMCB)’s technology can replace the traditional forms of insulin and pump therapies, according to Goldman. Given the opportunities present in the $176 billion Diabetes market in the U.S. Pharmacyte Biotech Inc (OTCMKTS:PMCB) has potential to enter the space following the completion of the next stage study.
Appointment of Ex-Alchemia chief
Another interesting development reported by Pharmacyte Biotech Inc (OTCMKTS:PMCB) is the appointment of Thomas Liquard, who is a former Alchemia Ltd and Pfizer Inc (PFE) executive, as a Board of Director. The appointment of Liquard throws enough hints that the company is seriously mulling to establish its brand in the marketplace.
With all the positive developments happening, Pharmacyte Biotech Inc (OTCMKTS:PMCB) soared by 12.34% on Wednesday to close at $0.173. The average number of shares traded stood at 2.90 million on the day.