Whenever a company gets a nod of approval from a regulatory agency, it is usually a major feat achieved after months of hard work by the company. Just today, a biopharmaceutical company that is developing novel canner treatments for patients suffering from recurring and metastatic cancer announced that a Notice of Allowance has been received from the U.S. Patent and Trademark Office for a specific method to treat cancer stem cells (CSC’s). This sent shares of Propanc Biopharma, Inc. (OTCQB:PPCB) soaring on the news.
Propanc is a development-stage health-care company. It focuses on developing new cancer treatments for patients suffering from pancreatic, ovarian, and colorectal cancer. The company develops a rational, composite formulation of the anti-cancer compound, which together exert a number of effects designed to control or prevent tumors from recurring and spreading through the body. Its product, PRP, is a variation upon its novel formulation and involves proenzymes, the inactive precursors of enzymes.
Traders were extremely bullish on the news as shares of Propanc climbed up to $0.0338/share (+133.10%) at the session high. This move is a breath of fresh air for long term shareholders who have been waiting for a catalyst during this slightly downtrending trading range over the last six months.