The declines recorded by a stock can often be an opportunity for investors as well and in light of the losses recorded by the Sunshine Biopharma Inc (OTCMKTS:SBFM) stock over the past week, it might be the right time for investors to start looking into the company a bit more closely.
In the past week, the stock has declined by as much as 13.50% amidst a heavy selloff. However, on Tuesday, the company, which is involved in development and commercialisation of antivral and oncology medicines, made a major announcement.
Sunshine announced yesterday that it RB Capital Partners Inc provided it with additional funding to the tune of $900,000. The investment that the company attracted is going to be regarded as convertible debt and the conversion price has been set at a $0.30 per share premium to the market price of the Sunshine stock.
The latest investment from RB Capital brings the total that has been invested by the firm into Sunshine Biopharma to $3,500,000. The company is going to deploy the fresh funds towards the development of the COVID 19 protease inhibitor and its main anticancer compound named Adva-27a. It now remains to be seen if the stock can actually recover in the coming days.
On Tuesday, SBFM stock fell 1.22% at $0.1210 with more than 2.62 million shares, compared to its average volume of 7.24 million shares. The stock had moved within a range of $0.1151 – 0.1237 after opening the trade at $0.1237. Over the past 52-week, the stock has been trading within a range of $0.0100 – 0.3140.