Premier Biomedical Inc (OTCMKTS:BIEI) has been asked to asked send their lead scientist working on treatments for breast cancer, to the San Antonio Breast Cancer Symposium. The scientist is an outside one and has been working on research sponsored by BIEI. It is believed that his findings would prove to be a breakthrough in the treatment of the disease. The scientist would be making his finding public, on evening of December 9 in San Antonio.
The CEO of BIEI, William A. Hartman, stated that this invitation proves that his company is working with the best researchers in the field of breast cancer. He also reminded the public that BIEI already has a patent pending for a breast cancer antibody. It should be noted here that Premier Biomedical had that the company’s research, during the preceding year, had comprised of testing on mice. Additionally, this research had resulted in improved survival and prevention of breast cancer in those mice.
Furthermore, the company recently announced its 3Q2015, still reporting no revenues from operations. BIEI spent around $140,000 on operating expenses during the quarter, reporting a decline of 46%, from the preceding year. However, the highlight of the quarter was the suspension of research projects at the University of Texas. This was done because the company had a series of unpaid invoices. Additionally, the company management also identified that it was having cash flow problems and it had been paying service providers in company stock.
For the 3Q2015, BIEI had a net operating loss of $140,000, due to lack of revenues. The management stated that the operating expenses and net loss declined on a year-over-year basis, owing to a decrease in service fee and administrative expenses. However, the red sign about this strategy is that the company is moving towards liquidation, in order to finance its current projects and patents.
Premier Biomedical Inc (OTCMKTS:BIEI) added a massive 185.96% to its share value, during the December 8 session, to reach a close at $0.0326.