PharmaCyte Biotech, Inc. - PMCB STOCK NEWS

PharmaCyte Biotech (NASDAQ: PMCB) has addressed shareholder concerns raised by Iroquois Capital Management in a recent letter. The company outlines its plan to enhance shareholder value through advancements in its live-cell encapsulation technology, Cell-in-a-Box®. Key updates include nearing a Phase 2b clinical trial for pancreatic cancer, securing capital to support product development, and initiating a $10 million share repurchase program. The company aims to strengthen its board and enhance communication with shareholders through quarterly calls while striving for accelerated clinical trial timelines.

PharmaCyte Biotech (NASDAQ: PMCB) has announced a share repurchase program authorized by its Board of Directors. The company plans to buy back up to $10 million of its common stock over the next two years, utilizing available cash. CEO Kenneth L. Waggoner stated that this decision reflects the company’s commitment to enhancing shareholder value and indicates its strong financial position. The buyback may take place through various means, depending on market conditions and regulatory restrictions.

PharmaCyte Biotech (NASDAQ: PMCB) has begun a series of studies to explore its pancreatic cancer therapy for treating malignant ascites. The first study, based on a developed Master Cell Bank deemed adventitious agent-free, will create a mouse model to assess treatment efficacy. This follows promising data from prior research indicating PharmaCyte's ability to slow malignant ascites production. CEO Kenneth Waggoner emphasized the need for effective treatments for this challenging patient population, addressing significant quality-of-life issues associated with the condition.

Iroquois Capital Management, a major shareholder of PharmaCyte Biotech (PMCB), expressed disappointment in the Board's lack of a clear plan to enhance shareholder value despite a strong cash position. The firm criticized the company's poor communication with investors, including the absence of quarterly calls, and questioned the Board's alignment with shareholders, highlighting low stock ownership. Iroquois urged for a majority refresh of the Board with qualified candidates to improve leadership skills and ownership mentality, as the stock price has fallen significantly since their initial investment.

PharmaCyte Biotech, Inc. (NASDAQ: PMCB) announced its management team will attend the 15th International Conference on Advanced Technologies and Treatments for Diabetes (ATTD) in Barcelona, Spain, from April 27-30, 2022. The conference is a leading platform for advancements in diabetes technologies. CEO Kenneth L. Waggoner emphasized the importance of developing a treatment that acts as an 'artificial pancreas' for Type 1 and insulin-dependent Type 2 diabetes using their innovative Cell-in-a-Box^® technology. PharmaCyte's therapy aims to improve insulin production in diabetic patients.

PharmaCyte Biotech, Inc. (NASDAQ: PMCB) announced that its pancreatic cancer trial product candidate, CypCaps™, has shown no systemic toxicity in recent studies. Conducted by a third-party organization, the study involved assessing empty cellulose sulphate capsules' toxicity in mice, aligning with FDA standards. Results confirmed that none of the test subjects exhibited clinical signs of toxicity, weight changes, or mortality. CEO Kenneth L. Waggoner emphasized the study's importance in validating the capsule's inert nature, supporting ongoing development of their targeted chemotherapy solution for pancreatic cancer.

PharmaCyte Biotech, Inc. (NASDAQ: PMCB) is accelerating preparations for its Phase 2b clinical trial focused on locally advanced, inoperable pancreatic cancer (LAPC) using CypCaps™. CEO Kenneth L. Waggoner highlighted the company's favorable study results and solid financial position, allowing for immediate preparations to enroll the first patient. Key tasks include finalizing trial protocols, reengaging contractors, and manufacturing syringes for the trial. This innovative therapy utilizes encapsulated cells to activate chemotherapy drugs at tumor sites, promising targeted treatment with minimal side effects.

PharmaCyte Biotech, Inc. (NASDAQ: PMCB) has appointed Dr. Matthias Löhr to its Board of Directors. Dr. Löhr, a leading expert in gastroenterology and oncology, is expected to enhance the company's strategic direction, especially as it approaches FDA clinical trials for pancreatic cancer. With a robust background in clinical trials and a history with PharmaCyte's technology, Dr. Löhr's involvement is anticipated to positively influence development efforts in cancer and diabetes therapies using the Cell-in-a-Box® technology.

PharmaCyte Biotech (NASDAQ: PMCB) has completed a crucial 24-month stability study for its clinical trial product candidate, CypCaps™, demonstrating a shelf life of at least 24 months at -80°C. This milestone confirms the product's viability, enzymatic activity, and cell potency, essential for its cancer therapy applications. CEO Kenneth Waggoner highlighted the study's significance for both PharmaCyte and the cell therapy sector. Data from this study will be included in PharmaCyte's updated submission to the FDA, further solidifying its position in developing cellular therapies for cancer and diabetes.