Why Pharmacyte Biotech Inc (OTCMKTS:PMCB) Shares Surged 30% Higher

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Pharmacyte Biotech Inc (OTCMKTS:PMCB) shares were up 29.37% on Monday to $0.0369 and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.02 to $0.10. The company has a market cap of $29.54 million at 848.90 million shares outstanding.

In a press release this week, Pharmacyte Biotech Inc announced that its research partner, the University of Northern Colorado has submitted abstracts for the presentation of two scientific papers at the 253rd American Chemical Society National Meeting & Exposition in San Francisco, California in April next year.

This gathering provides chemistry professionals a forum to meet, share ideas and advance scientific and technical knowledge. The theme of the upcoming meeting is “Advanced Materials, Technologies, Systems & Processes” so the company’s cannabis research at UNC is in line with the discussions. The data will be presented by Dr. Richard M. Hyslop, Principal Investigator and Professor of Chemistry and Biochemistry at UNC and his students.

“We are very pleased with the ongoing progress at UNC. The upcoming ACS meeting provides an ideal venue to present two more scientific papers that have been generated from the work being done by Dr. Hyslop and his team as well as showcase the versatility of Cell-in-a-Box® as an advanced therapeutic platform,” remarked Pharmacyte Biotech Inc CEO Kenneth Waggoner.

Dr. Hyslop has been involved in cancer research for four decades and is leading a team of scientists from UNC to develop a “green” approach to treating solid tumors, initially brain cancer. The first paper is titled “Development of a cannabinoid-based Cell-in-a-Box therapeutic system targeted toward malignant tumors” and the second paper is titled “In vitro anti-neoplastic activity of specific phytocannabinoids of Cannabis sativa.”

“We are looking forward to sharing some of our results with the scientific community,” commented Dr. Hyslop. “Our team of biochemists, organic chemists, molecular biologists, genetic engineers, undergraduate students, and graduate students continue to work diligently to achieve our goal of developing targeted cannabinoid-based chemotherapy utilizing Cell-in-a-Box.”

UNC research investigates the feasibility of a patented cell-encapsulation technology in which cells producing enzymes capable of converting an inactive phytocannabinoid prodrug into an active anti-cancer drug are encapsulated in a cellulose-based porous polymer. In-depth studies focus on developing a cannabinoid-based targeted treatment of malignant tumors and how single-cell layer cultures were treated with increasing levels of a purified cannabinoid and details the resultant changes in cancer cell populations. Initial results suggest that this cannabinoid possesses potent anti-proliferative effects against several types of cancer cells.

Pharmacyte Biotech Inc is a clinical-stage biotechnology company this focused on developing and preparing to commercialize treatments for cancer and diabetes based upon a cellulose-based live cell encapsulation technology known as Cell-in-a-Box. This technology  will be used as a platform upon which treatments for various types of cancer, including advanced, inoperable pancreatic cancer, and diabetes will be developed.

Aside from that, Pharmacyte Biotech Inc is developing therapies for pancreatic and other solid cancerous tumors involving the encapsulation of live cells placed in the body to enable the delivery of cancer-killing drugs at the source of the cancer. It is also developing a therapy for Type I diabetes and insulin-dependent Type II diabetes based upon the encapsulation of a human cell line genetically engineered to produce, store and secrete insulin at levels in proportion to the levels of blood sugar in the human body using its Cell-in-a-Box technology.