PMCB | Recent Developments
PharmaCyte Biotech Provides Update on Corporate Developments and
Progress With Cancer and Diabetes Programs
SILVER SPRING, Md., March 16, 2015 (GLOBE NEWSWIRE) --
PharmaCyte Biotech, Inc. (PMCB), a clinical stage biotechnology
company focused on developing targeted treatments for cancer and
diabetes using its signature live-cell encapsulation technology,
Cell-in-a-Box(R), today provided shareholders with an update on
developments on progress in its cancer and diabetes programs and
at the corporate level.
Kenneth L. Waggoner, Chief Executive Officer of PharmaCyte Biotech,
stated, "Given all of the developments that have occurred since our last
update, we believe it is an appropriate time to update our shareholders
on developments and to highlight and briefly summarize what is in store
for PharmaCyte Biotech in the coming days.
Before doing so, however, we would like to address two issues that
reportedly are of significant concern to a number of our shareholders.
The first has to do with whether a reverse stock split is imminent.
The second is whether we have access to capital to move forward with
our clinical trials. PharmaCyte Biotech has no current plans to effectuate
a reverse stock split. In addition, our cash position remains strong and
our ability to raise capital continues to be very favorable."
"As to the update, we remain focused on bringing our diverse platform
technology to market and firmly believe our novel Cell-in-a-Box-based
treatment will become a household name in the future. Our priority is
and always has been to maximize shareholder value, and we are working
diligently to reach that objective," added Mr. Waggoner.
