There were a bit of midweek blues for the Propanc Biopharma Inc (OTCMKTS:PPCB) stock on Wednesday as it suffered from a fairly steep selloff and ended the day with a decline of as much as 10% as a consequence. Considering the magnitude of the losses, it may be a good time for investors to consider taking a closer look at the company and figure out if the selloff in the stock is going to continue or if there is any way back for the Propanc stock in the coming days. First of all, it is necessary for investors to have a bit of an idea about the company and its business.
Trading Data
On Wednesday, PPCB stock moved down 10.20% to $0.0023 with more than 21.81 million shares, compared to its average volume of 12.67 million shares. The stock moved within a range of $0.0022 – 0.0028 after opening trade at $0.0028.
About Propanc Biopharma
The company is involved in the development of a novel approach by way of which it seeks to stop the metastasis and recurrence of solid tumors. The approach seeks to use pancreatic enzymes which can target as well as eradicate the cancer stem cells in individuals who may be suffering from colorectal, pancreatic, and ovarian cancers.
Propanc Biopharma’s CEO Believes Lead Asset Could Unlock Value as PRP Advances to Phase I, First-In-Human Study in Advanced Cancer Patients
Despite the fall in the stock on Wednesday, it should be noted that on Tuesday the company had been in the news owing to a fairly bullish assessment from the Propanc Chief Executive Officer with regards to the product.
James Nathanielsz, who is the co-founder and CEO of the company, noted that as PRP moved to Phase 1 first in the human study with patients suffering from advanced cancer, the product could eventually unlock value for shareholders. In this regard, it ought to be noted that the Propanc has stated that PRP is a kind of treatment that is expected to be far less toxic when compared to the standard treatments of cancer. It has a novel approach when it comes to the prevention and treatment of metastatic cancer.
Although a lot of advancements have taken place in the field of oncology in recent years, solid tumor induced metastatic remains the holy grail for many researchers in the field of oncology. The reason is quite simple. Metastasis remains the biggest reason behind the deaths of those who suffer from cancer.
While it cannot be denied that PRP is still at an early stage of development, it should be noted that a physician-sponsored study of the same in 46 late-stage cancer patients had produced fairly positive results. In addition to that, it is also necessary to point out that Propanc had also managed to complete the toxicology stud into the main ingredients of PRP and that is another important factor that ought to be remembered.
It is also important to point out that Propanc is a company that has a strong intellectual property portfolio and earlier on this month on July 5, the company’s CEO spoke about the same. He noted that as of that date, Propanc possessed as many as 39 patents and in addition to that, as many as 26 patent applications were in the pipeline. It would be interesting to see if the stock can make recovery any time soon.
Technical Data
PPCB stock is trading below the 20-Day and 50-Day Moving averages of $0.0037 and $0.0058 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0188. The company has a total market capitalization of $280K. The stock is down 25% over the past month.
