Small Cap IR issued a report on Pharmacyte Biotech Inc (OTCMKTS:PMCB) wherein it stated that company’s “Cell-in-a-Box” technology exhibits huge potential. It will be used as a platform on which treatment for many types of cancer including inoperable and advanced pancreatic cancer diabetes and other treatments are being developed. The firm issued a buy rating on PMCB stock.
Recently, Pharmacyte entered into a major research services deal and a consulting contract with UTS in Australia. They are related with the advancement of company’s therapy for insulin-dependent diabetes. It is firmed of Melligen cells that are to be encapsulated using live cell encapsulation technology, popularly termed as Cell-in-a-Box®.
The research services deal is developed to offer capital to UTS that will allow Professor Ann Simpson and her team at UTS to perform trials with Melligen cells. It will help them to fully characterize the aspects by which these Melligen cells generates insulin “on demand” on being encapsulated using Pharmacyte’s Cell-in-a-Box® technology. The management stated that the Consulting deal is signed so that Professor Simpson can devote ample time working on same project.
The expert view
“Kenneth L. Waggoner, the CEO said that consulting contract as well as the Research Services Agreement is of vital importance as Pharmacyte follows its objective of formulating an effective and advanced therapy for insulin-dependent diabetes. The management is delighted as expert Professor Simpson and her team will now work with the company. She was one of the members of the team that established Diabetes Consortium. She is an expert in the field of Melligen cells and therefore her association will help the company to progress its plans to find an effective treatment for insulin dependent people.
Pharmacyte Biotech Inc (OTCMKTS:PMCB) not only lost a major 10% in the last trading session, it also created a Bearish Engulfing candle, one of the more powerful bearish signals. The volume of 2 million was much lower than the daily average of 2.7 million but an established downtrend doesn’t see an increasing volume as a necessary requirement. The bear market of the stock looks ready now to drag it down to $0.0950 levels, both the 52 week low and the final support level. A break below that will trigger new lows but keep an eye for any false breakdown.