So far in this year, there are some OTC listed biotech firms that have managed to fetch investors’ attention. One of such company is Pharmacyte Biotech Inc (OTCMKTS:PMCB) that has been working to formulate effective cancer treatments. So far, the company has just scratched the surface with its much talked Cell-in-a-Box technology. This technology that forms the base of Phase IIb pancreatic cancer study is believed to have much more potential than it has shown till this time.
Pharmacyte’s Cell-in-a-Box® technology is a way of encapsulating human living cells in a protective cover that permits them to produce and supply specific enzymes and hormones to complete a specific role within the body.
Stellar Biotechnologies Inc (OTCMKTS:SBOTF) To Perform Reverse Stock Split
Stellar Biotechnologies Inc (OTCMKTS:SBOTF) reported that depending on regulatory approval, it will move forward with a consolidation of its issued and outstanding “Shares” by opting for 1-10 reverse stock split. The board passed the reverse split proposal on August 26, 2015, as a measure to meet up listing requirements of the NASDAQ Capital Market.
Stellar have submitted an application to uplist on NASDAQ and the planned Reverse Stock Split is expected to meet one of the main quantitative guideline for listing. However, this doesn’t ensure that NASDAQ will accept the company’s application.
Biostem US Corp (OTCMKTS:HAIR) Suspends Operations
A couple of months ago, Biostem US Corp (OTCMKTS:HAIR) reported suspension of all of its operations. The company terminated its full time employee, stopped engaging medical affiliates, closed its website and ceased marketing measures due to financial problems.
As of May 31, 2013, Biostem’s assets stood at $3,636 against total liabilities of $917,298. The company has used its cash and owes funds to its professional advisors for their services. Biostem has not submitted its yearly report for the fiscal ended February, 2013 and doesn’t expect to file in the future.