Exciting news on the pharmaceutical front: California-based PharmaCyte Biotech (OTC:PMCB) is now closer than ever to reaching what would be a monumental milestone in the company’s history.
The company is within sight of what will be a landmark event—an “open” or approved Investigational New Drug application (IND) with the U.S. Food and Drug Administration (FDA) for its development of a treatment for patients with locally advanced, non-metastatic, inoperable pancreatic cancer (LAPC).
PharmaCyte is focused on developing targeted treatments for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®.
Currently, read Monday’s press release, “PharmaCyte’s submission of an IND application is what has its shareholder’s attention, but it is what an FDA approval of that application would mean for PharmaCyte that will soon garner the most attention.”
COO Gerald W. Crabtree says an open IND is key to PharmaCyte realizing a number of benefits that include: Beginning formal arrangements required to conduct its clinical trial in LAPC. Also, PharmaCyte can begin working towards the major milestone of enrolling the first patient in its clinical trials.
Shares in PMCB took on 1.7 cents, or 40.5%, to 5.9 cents, on volume of 12.5 million.