Today is the first time we’ve taken a look at Sunshine Biopharma, Inc. (OTCMKTS:SBFM) here on Street Register, and as we like to do when that is the case, we’ll just give a brief synopsis of the company’s primary activities before going into the latest news.
SBFM is actively involved in anti-cancer research and development, the flagship treatment of which is billed as Adva-27a, an anticancer compound that has recently been shown to be effective at killing Multidrug Resistant Breast Cancer cells, Small-Cell Lung Cancer cells, Uterine Sarcoma cells and Pancreatic Cancer cells. Adva-27a is currently in the IND-Enabling stage of development. The Company is planning a Phase I clinical trial of Adva-27a for Pancreatic Cancer in parallel to the Phase I clinical trial of Adva-27a for multidrug resistant Breast Cancer to be conducted at McGill University’s Jewish General Hospital in Montreal, Canada.
To kick off the week, Sunshine Biopharma, Inc. (OTCMKTS:SBFM) has reported that Adva-27a has proven effective at killing Multidrug Resistant Cancer cells including Pancreatic Cancer cells, Small-Cell Lung Cancer cells, Breast Cancer cells and Uterine Sarcoma cells.
The Company also received the results of an independent valuation it had commissioned on its issued and outstanding shares. MNP LLP was retained to provide a Valuation Report on the estimated en bloc Fair Market Value at March 31, 2017 of its issued and outstanding shares. The value arrived at in the Report was in the range of $977.0 million to $1.133 billion. The Company had commissioned the Report as part of an obligation it had previously made to investors.
MNP is one of the largest public accountancy firms in Canada (www.mnp.ca). The Montréal Valuation Practice is engaged in the valuation of businesses, business ownership interests, and securities and intangible assets in connection with business combinations, distributions of listed and unlisted securities, private placements, exchanges of shares, corporate and financial reorganizations, going-private transactions, leveraged buy-outs, fair value measurement of assets and liabilities for purchase price allocation and annual impairment testing for financial reporting pursuant to generally-accepted accounting principles both in Canada and the United States. The Practice has performed more than 3,000 valuations of public and private companies throughout Canada and in the United States during the past thirty years. Members of the Practice have also been playing an active role in the Canadian and U.S. professional societies of which they are accredited members, including serving on governing boards and standards-promulgating committees.
MNP is not an insider, associate, or affiliate of SBFM or any of its affiliates, associates, or shareholders. MNP does not own shares in the Company, nor does it have any agreements, commitments, or undertakings in respect of any future business involving any of the Interested Parties. MNP’s professional fees for services rendered in preparing the Report were not contingent, in whole or in part, on the conclusions reached therein and were based strictly on the professional time expended on the engagement at their standard hourly rates. (Source: Accesswire)
What this essentially means, is that according to MNP, a reputable Canadian accountancy firm, SBFM stock is presently massively undervalued. Going by the range of the valuation given $977M-$1.133B) shares of SBFM would be fairly priced anywhere from .81-.93 per unit. With a current market value of under two cents a share, it firmly places SBFM in the ‘stocks to watch’ category. Continue to follow the SBFM story along with us. Stay locked to Street Register for updates, and we’ll deliver important developments on SBFM as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in SBFM stock, short or long.