Propanc Health Group Corp (OTCMKTS:PPCH) has come under the scope of analysts from SeeThruEquity. The analysts believe that the company’s pro-enzyme drug shows promise in the treatment for cancer. The drug is also known to provide lasting clinical benefits to the patient. The company also briefed its investors about latest developments, at the “SeeThruEquity 4th Microcap Conference.” The recent R&D activities and its financial health concerns were the main topic of discussion during the conference.
Currently, the PRP drug is undergoing animal studies, which are nearing completion. Once the results of the animal trials are received, the company plans to initiate clinical human trials from 2016. It is expected that the PRP would be able to target a $9 billion worth oncology market. The PRP targets cancer cells through multiple pathways, which is why it is thought to be so effective. SeeThruEquity initiated its coverage with a 12-month price target of $1.52 per share, which was significantly higher than the current market price.
At the conference, PPCH disclosed the various milestones set for the development of the drug. Propanc has been holding meetings throughout the week, before the conference trying to gain finances to complete these milestones. The CEO of PPCH, James Nathanielsz, stated that the investor response has been encouraging at the conference and his team was happy to educate the investors about the company. He also updated that the initial data from animal trials would be available by mid-June, with complete reports being released by the end of July.
The PRP drug is a sign of Propanc fulfilling its mission of developing drug candidates that prevent tumors from spreading and recurring in the body. The drug is also set to be the first of its kind, since there are no FDA approved drugs for the same purpose.
Propanc Health Group Corp (OTCMKTS:PPCH) traded 334.92 million shares on May 29, to close at $0.0570. The stock has 52-week high of $0.34 and 52-week low of $0.00.