Pharmacyte Biotech Inc (OTCMKTS:PMCB) Tumbles to 52-Week Low

In yesterday’s session the share price of Pharmacyte Biotech Inc (OTCMKTS:PMCB) dropped to a brand new 52-week low. The stock slid 6.4% to stop at $0.078 per share on its heaviest volume for the past couple of months.

PMCB put up a string of four press releases in September but those seemed to do very little in the way of boosting investor confidence in the stock. PMCB last informed of taking steps towards moving into Phase 2b trials. Even though the first release stated that the company “begins phase 2b clinical trial push”, it announced the first step in a chain of events that would lead up to the actual phase 2b stage.

At the very least, the company was uprfont about the whole thing and stated that this first step was the “first of many crucial events” related to the launch of the clinical trial – a first for the company.

Here is what PMCB had to show on its books as of its latest quarterly report for the three months ended July 31:

• $2.9 million in cash
• $1.1 million in current liabilities
• zero in revenues
• $1 million in loss from operations

The company has maintained its cash position, with a slight increase from the annual report published in late July. PMCB‘s outstanding shares have also remained relatively unchanged, growing by less than a million between late July and late August. However, the total number is approaching 750 million.

Sadly, a few promoters took another stab at pumping PMCB in September, with two emails sent on Sep 16 and 17, with a total compensation of $21,000. Promoters took a long break from touting PMCB, with the previous promo emails coming in early July. The fact that PMCB has been very heavily promoted through the better part of this year may be something investors may also want to keep in mind.