Provectus Pharmaceuticals, Inc. (OTCMKTS:PVCT) Maintains Steep Climb

On Friday the share price of Provectus Pharmaceuticals, Inc. (OTCMKTS:PVCT) maintained its climb and closed a whopping 19% up, stopping at $1.54 per share. Share volume was already at record values on Thursday and the last session clocked at a new high of 4.4 million shares traded.

The company’s previous green session was another significant move up and we had certain concerns that it may not be able to sustain the new levels but Provectus proved strong and logged another very strong session. It should be noted that there are no pump emails targeting PVCT and the stock is moving on its own and on the excitement around today’s stockholder meeting and the expected disclosure related to the FDA review of the company’s flagship product.

PVCT‘s PV-10 melanoma treatment has cleared Phase 2 trials and the hopes of investors is that the FDA expedites the drug through Phase 3. There is no hard evidence that this is going to happen and there are a few possible outcomes. There is speculation on blogs and online discussions that PVCT may have already filed a New Drug Applicaiton, but that is all guesswork at that point. PVCT has not yet come up with any official statement or press release and it’s not too clear how far the company is in that regard. Additionally, PVCT have not announced entry into Phase 3 and NDAs are usually submitted once the product had cleared Phase 3.

Today’s shareholder meeting may culminate into a new press announcement from PVCT which could shed more light on the topic of FDA approval and moving along with the NDA procedures. Until then, traders are left with a very steep climber on their hands that has once proven able to sustain its green movement but is now perched even higher on the charts, having nearly doubled over the past three months.

Another significant mover in Friday’s session was Tiger Oil and Energy Inc. (OTCMKTS:TGRO) who are still a pump roller coaster. TGRO closed nearly 16% down despite another tout email sent on Friday by pumpers Stock Tips.