Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT) Stock Rebounds After The Recent Fall: Now What?
Provectus Biopharmaceuticals Inc (OTCMKTS:PVCT) stock was in focus as the stock ended slightly lower on Monday. How will the stock perform this week?
Market Action
In the previous trading session, PVCT stock decreased 0.62% to $0.0645. A total of 173K shares traded for the session hands, well below its average volume of 329K shares. The stock opened at $0.0629 and moved in a range of $0.0629 – 0.0650.
Key Trigger
Provectus Biopharmaceuticals Provides Update on Research into Oral Administration of PV-10® …
Provectus Biopharmaceuticals provided an update on the Company’s research into the systemic administration of Provectus’ investigational immunotherapy, PV-10 (rose bengal disodium, a halogenated xanthene molecule), for the treatments of hematology, oncology, and virology indications, in conjunction with the Company’s efforts to expand its intellectual property.
Hematology: On August 5, 2021, the U.S. Patent and Trademark Office (USPTO) published Provectus’ patent application entitled “Composition and Method for Oral Treatment of Leukemia” ( publication no. US 2021/0236418 A1 ), containing:
In vivo data of mice with acute lymphoblastic leukemia that received oral PV-10 and displayed increased survival.
Provectus expects these and other related data from the hematology program to be published in a peer-reviewed medical journal in 2022.
Oncology: On September 30, the USPTO published the Company’s patent application entitled “Treatment of Solid Cancerous Tumors by Oral Administration of a Halogenated Xanthene” ( US 2021/0299055 A1 ), containing:
In vivo data of mice with adenomatous polyposis coli multiple intestinal neoplasia (a colorectal tumor model that continuously promotes abnormal cell proliferation and transformation into cancer) that received oral rose bengal and displayed increased survival in both prophylactic and therapeutic settings.
Trader Notes:
PVCT stock is looking weak as it is trading below all the key moving averages with 50-day and 200-Day SMA stand at $0.0646 and $0.0679 respectively. The stock has lost 3% over the past 6-month. The RSI stood at 53.
