Sunshine Biopharma Inc (SBFM)

[Ecomike]

I tried to warn folks to stay away from this stock last year. For several reasons.

One of the most promising antivirals that has been used for RA for 32 years in Japan and So Korea started a phase III EUA FDA approved trial in 2020, with solid above market share price funding, and is still 30 months later a good 2-3 months away from filing the complete study data set to try and get authorization for the repurposing of the drug for Covid19. And it started with safely used for 32 years drug and phase III right out of the gate...

This company, Sunshine Bio was looking at a decade because it needed to do a phase I just to proof it was safe and would do no harm (that is what phase I is about), by which time we would be dealing with 100,000 new generations of covid off spring... It takes 50 Mil dollars and 5-10 years to go from phase 1 to phase III in the US. I have seen great Biotech phase II studies get approved for a phase III and never get funded...

Just on that basis alone this was non starter...

Now with the FED jacking up interest rates to the moon, the entire biotech sector, that is not printing profits is getting hammered. And the 18 month market wide correction just made it that much worse...