Propanc Biopharma (OTCMKTS:PPCB) Stock More Than Doubled On Major Updates
When a stock ends up generating gains to the tune of as much as 115% in a day then it may be time to take a closer look at it and hence, investors could do well to take a closer look at the biopharmaceutical firm Propanc Biopharma (OTCMKTS:PPCB) this morning.
Market Stats
On Wednesday, PPCB stock soared 114% to $0.0360 with more than 6.09 million shares, compared to its average volume of 582K shares. The stock moved within a range of $0.0166 – 0.0390 after opening trading at $0.0171.
Propanc Biopharma’s Cancer Stem Cell Technology Offers Renewed Hope to Achieve a Total Victory Against Metastatic Cancer
The company is mainly involved in the development of novel cancer treatments and yesterday, it made a major announcement with regards to its cancer stem cell technology named PRP. Propanc noted that among the large number of stem cell technologies that are being developed at this point, it is only PRP that has offered the possibility of having a total victory against the scourge of cancer.
Such an announcement can often come as a source of significant encouragement for both the medical fraternity and also for investors. Hence, it was perhaps no surprise that investors piled on to the stock in a big way on Wednesday and sent it soaring to such a degree. Now it is going to be interesting to see if the stock manages to add to its gains in light of new momentum or if there is any kind of correction after yesterday’s rally.
Key Quote
“PRP is a targeted, CSC therapy for the treatment and prevention of metastatic cancer, which I believe can help achieve a total victory in the fight against metastatic cancer from solid tumors,” said Dr Julian Kenyon, M.B.Ch.B., M.D., Propanc’s Chief Scientific Officer.
Traders Corner
PPCB stock is trading above the 20-Day and 50-Day Moving averages of $0.0220 and $0.0253 respectively. However, the stock is trading below the 200-Day moving average of $0.0383.
