PharmaCyte Biotech, Inc (OTCMKTS:PMCB) Declines to Give Timeline for IND Filing

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Shares in PharmaCyte Biotech, Inc (OTCMKTS:PMCB) have been on a slow but steady downturn essentially for all of 2017 so far with very little exception, leaving traders wondering when a bottom might be reached. But would progress on the company’s Investigational New Drug application be just the spark needed to effect a reversal? If the general feeling on some message boards is any indicator, there is a fair bit of public skepticism on that point, and the recent remarks by the company leave room for interpretation.

But it’s worth it to mention the fact that the current 14-day Relative Strength Index (RSI) is finally reaching a low mark just above the 30-line, the point at which a stock can be deemed ‘extremely oversold’, for the first time this year. It’s at this time that technical traders will likely begin to watch intensely for a solid bottom, from which a potential rebound can be made.

To understand the bigger picture, we have to look at what the company does. PharmaCyte Biotech, Inc (OTCMKTS:PMCB) is in the clinical stages of developing therapies for cancer and diabetes based upon a proprietary cellulose-based live cell encapsulation technology known as “Cell-in-a-Box®.” PharmaCyte’s therapy for cancer involves encapsulating genetically engineered human cells that convert an inactive chemotherapy drug into its active or “cancer-killing” form. Once implanted, a chemotherapy drug that is normally activated in the liver (ifosfamide) is given intravenously at one-third the normal dose. When the ifosfamide comes in contact with the encapsulated cells they act as an artificial liver and activate the chemotherapy drug at the source of the cancer.

That brings us to the recent update on Pharmacyte’s Investigation New Drug application for its treatment, which has understandably rubbed some people the wrong way. The company appears to be saying all the right things about the subject, other than when current and prospective shareholders can expect the process to move forward.

The statement from the CEO on the matter was as follows: “PharmaCyte does not plan to publish a date for the filing of its IND. At the current time, it’s extremely difficult for the company to supply a development timeline that will accurately predict when the IND will be filed. It would be irresponsible of the company to release what, at this point, would be a “hopeful” date for filing the IND. This date could change from day-to-day and week-to-week based upon several unforeseen variables – many of which are beyond PharmaCyte’s control. This means that we cannot give an accurate timeline for filing the IND because we too are awaiting a list of items to be completed by others.”

The rest of the announcement goes on to iterate the various things the company does have lined up to hopefully make the Cell-in-a-Box® path to the marketplace a reality in the near future.

The company believes it has the guidance it needs to complete a successful IND process. PharmaCyte was charged with completing numerous tasks identified by the FDA during the pre-IND meeting. When these tasks are completed, PharmaCyte will file its IND. It will be then that the public is notified the IND has been filed. (Source: Globe Newswire)

As we mentioned above, the waters on when or if Cell-in-a-Box® does make it to market are still very murky. But at the same time, we do not discount the merits of technical trading here at Street Register, so we want to keep an eye on PMCB stock, which is rapidly approaching heavily oversold territory. We’ll relay any key updates on PMCB to our members, so get signed up for our 100% free smallcap newsletter by entering your email address into the box below and hitting ‘Subscribe Now’!

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