Sunshine Biopharma, Inc. (OTCMKTS:SBFM) is making a neutral in the early session on Wednesday. The stock has been witnessing a nice uptrend since over the past 6 months with a jump of around 1550%. Will the Rally continue?
Major Trigger:
Sunshine Biopharma Mice Study for COVID-19 Treatment Progressing as Planned
Key Highlights:
- today confirmed that its COVID-19 mice study currently underway at the University of Georgia is progressing as planned. The study is assessing the efficacy of two protease inhibitors in preventing transgenic mice challenged with SARS-CoV-2 from progressing to illness and death.
- Should these studies prove successful, the Company plans to file the data with the FDA and request authorization to do testing in actual COVID-19 patients. Sunshine Biopharma’s protease inhibitor treatment is anticipated to be orally available making it possible for the treatment to be in tablet form which can be taken at home.
Key Quote:
“We are moving the project forward as fast as possible, albeit within the constraints of science,” said Dr. Steve Slilaty, CEO of Sunshine Biopharma. “We are optimistic that our research efforts will culminate in a drug that will help turn the page on the pandemic,” he added.
Market Reaction
As of 10:12, SBFM stock fell by 1.35% to $0.1645 with more than 561K shares traded hands, compared to its average volume of 6.89 million shares. The stock has moved within a range of $0.1600 – 0.1754 after opening the trade at $0.1754.
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