Tuesday, August 3, 2021

PharmaCyte Biotech Shifting To Nasdaq

Laguna Hills-based biotech developer PharmaCyte Biotech said late Monday that the company is shifting to the Nasdaq Capital Market, having been approved to list on the exchange as PMCB. The company, which currently trades OTCQB, is focused on developing cellular therapies for cancer and diabetes. the company said, in addition to the upgrade to the Nasdaq, the company is planning a public offering, which will be run by H.C. Wainwright. PharmaCyte said it will use net proceeds of the offering to complete activities requested by the U.S. Food and Drug Administration (FDA) in order to address the FDA’s clinical hold on its Investigational New Drug application (IND) with respect to the Company’s planned Phase 2b clinical trial in locally advanced, inoperable, pancreatic cancer (LAPC).