Biotechnology company PharmaCyte Biotech, Inc. (OTCQB: PMCBD), a company concentrated on creating cellular therapies for cancer cells and diabetes mellitus utilizing its trademark live-cell encapsulation innovation, Cell-in-a-Box ®, today announced that the Nasdaq Stock Market LLC (Nasdaq) has authorized the listing of the Business’s common stock on Nasdaq. The Company’s common stock will be listed on Nasdaq under the symbol “PMCB.” PharmaCyte also revealed that it plans to offer as well as market, based on market and also various other conditions, shares of its common PMCB stock (or pre-funded warrants to acquire common stock in lieu of common stock) and warrants to buy shares of common stock in an underwritten public offering.
PharmaCyte Biotech, Inc. is a biotechnology firm establishing cellular therapies for cancer cells as well as diabetes mellitus based upon a proprietary cellulose-based real-time cell encapsulation technology called “Cell-in-a-Box ®. “This technology is being used as a system whereupon treatments for numerous types of cancer cells as well as diabetes mellitus are being developed.
PharmaCyte’s product prospect for cancer entails encapsulating genetically engineered human cells that convert an inactive chemotherapy drug right into its active or “cancer-killing” form. For pancreatic cancer, these encapsulated cells are dental implanted in the blood supply to the patient’s lump as close as feasible to the site of the lump. Once implanted, the chemotherapy prodrug ifosfamide that is typically turned on in the liver is given intravenously at one-third the typical dosage. The ifosfamide is carried by the circulatory system to where the encapsulated cells have actually been implanted. When the ifosfamide moves via pores in the capsules, the live cells inside function as a “bio-artificial liver” and also activate the radiation treatment prodrug ifosfamide at the site of the cancer.
PharmaCyte’s product candidate for Type 1 diabetes and insulin-dependent Type 2 diabetes involves encapsulating a human liver cell line that has actually been genetically crafted to generate and also release insulin in action to the degrees of blood sugar in the body. PharmaCyte is also taking into consideration the use of genetically customized stem cells to treat diabetic issues. The encapsulation of the cell lines will be done utilizing the Cell-in-a-Box ® modern technology. As soon as the encapsulated cells are implanted in a diabetic individual, we anticipate that they will function as a “bio-artificial pancreatic” for purposes of insulin production.
With respect to the recommended public offering, the Firm expects to grant the underwriter a 30-day alternative to purchase additional shares of its common stock and/or warrants to buy shares of its ordinary shares at the public offering rate, much less the underwriting price cuts and payments. All of the securities to be sold in the offering are to be offered by PharmaCyte.
H.C. Wainwright is acting as single book-running supervisor for the proposed offering. It is unknown the company’s OTC markets investor relations firm at the time of publishing. The Firm’s ordinary shares will remain to trade on the OTC Markets quote system on the OTCQB Endeavor Market until trading commences on Nasdaq, which the Firm anticipates to happen following the pricing of the recommended public offering.
The offering, nevertheless, goes through market as well as various other conditions, and also there can be no assurance regarding whether or when the offering might be completed, or as to the real dimension or regards to the offering.
PharmaCyte intends to utilize the net proceeds of this offering (i) to complete tasks requested by the U.S. Food and Drug Administration (FDA) in order to attend to the FDA’s clinical requirements on its Investigational New Medication application (IND) with respect to the Company’s prepared Phase 2b scientific test in locally progressed, inoperable, pancreatic cancer cells (LAPC), consisting of performing a number of added preclinical research studies as well as assays as well as offering the FDA with the extra details it requested, (ii) to start to fund as well as carry out the Phase 2b scientific test in LAPC, if as well as when the medical hold on the IND is raised, and (iii) for basic working capital purposes.