Provectus Pharmaceuticals, Inc. (OTCMKTS:PVCT) Catches a Boost on More News
After a wobbly start of the week, yesterday Provectus Pharmaceuticals, Inc. (OTCMKTS:PVCT) closed a solid 16.5% up, coming to a close of $1.48 per share. The company posted a press release before the market opened and that helped buoy the price to a gap-up open that culminated in a strong session.
The company posted a long-awaited update on its dealings with the FDA. PVCT held a ‘Type C’ meeting with the FDA’s oncology division this Monday. While Type C is explained to be ‘any meeting other than a Type A or Type B’ in FDA documentation, Provectus CEO Craig Dees explained that the meeting was focused on the different viable paths for the approval of the company’s PV-10 melanoma treatment.
The FDA will have to issue PVCT official minutes from the meeting and those will be made available sometime before January 15. PVCT had no further information to provide, expecting the receipt of the minutes before further info is made public.
With words such as ‘accelerated approval’ and ‘breakthrough therapy’ cropping up in the release and the accompanying 8-K filing, traders were obviously excited about the stock and PVCT managed a very decent bounce. The official statement will be out early next year but traders seem eager to load up immediately, hoping for the best outcome and PV-10 being sped along to commercialization. A few more hiccups and pullbacks are not unlikely, as there will always be people looking to just trade the stock and sell the highs but next year’s announcements will make it clear where PVCT is headed in the long run.
Other big percentile movers in yesterday’s session include Olie Inc (OTCBB:OLIE) who pulled back down after an explosive Tuesday, closing 30% in the red. Obscene Jeans Corp. (OTCBB:OBJE) slipped 24% and ended the session at $0.23 per share.
