Provectus Pharmaceuticals, Inc. (OTCMKTS:PVCT) Spikes in the Green

After several days of slower percentile movement up the charts, yesterday’s session sent the share price of Provectus Pharmaceuticals, Inc. (OTCMKTS:PVCT) up in double digits and on the heaviest share volume for the past year. The ticker moved over 2 million shares and ended the session 16% up, stopping at $1.29 per share.

Provectus is a biopharma company working on two flagship products – PV-10 and PH-10, respectively targeting cancerous diseases and skin diseases. The big hopes are riding on the PV-10 product whose melanoma variation has cleared Phase 2 trials and is gearing up for Phase 3.

PVCT has not published any new press announcements for a while and the December price rally could partly be explained with the building anticipation for the announcement of the start of Phase 3. Some particularly optimistic supporters of the company expect that the FDA will expedite the next phase but there’s no clear indication this is going to happen.

PVCT is in a comfortable financial state, given the figures published in its last quarterly:

• $8.2 million in cash
• $4 million total liabilities
• zero quarterly revenues
• $4.5 million in quarterly net loss

The company is financing its activities through the private offerings of shares but this is more or less unavoidable for pharma companies that are still developing their products and investors who believe in their long term success will just have to roll with the punches. The good news is the shares and the warrants attached to them are not offered at discount prices.

What may be more worrying about PVCT‘s last jump is that it was rather big and previous sharp green runs were followed by selling that pressed the price back down. It’s not a wise idea to chase stocks anyway, but investors are advised to weigh their options carefully before making any rash moves.

Another biopharma stock that traded heavily in yesterday’s session was OncoSec Medical, Inc. (OTCMKTS:ONCS) who closed 7% up on increased volume, reaching $0.33 by the bell.