Insider Buying: Sunshine Biopharma Inc. (NASDAQ: SBFM) Chief Financial Officer Purchases Shares By Jad Malaeb, Benzinga
Pointe-Claire, QC
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December 27, 2022 08:00 AM Eastern Standard Time
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Sunshine Biopharma Inc. (NASDAQ: SBFM) is a fully integrated pharmaceutical company offering and researching life-saving medicines in a wide variety of therapeutic areas, including oncology and antivirals.
On November 30th, 2022, Sunshine Biopharma’s chief financial officer (CFO) Camille Sebaaly purchased 30,000 shares at $0.7635/share for a total of $23,000. The Canadian-based company is heavily focused on eradicating the virally-driven Covid-19 pandemic. While its expansion has seemingly calmed down in the West, the SARS-CoV-2 virus has resurged in China, triggering state-sanctioned quarantine mandates.
Only months ago, Sunshine Biopharma Inc. announced a $19.5 million private placement priced at the market, a funding round aimed to help the Sunshine Biopharma team achieve its mission of eradicating the pandemic and creating life-saving anti-cancer treatments.
An Overview Of Sunshine Biopharma
Aside from insider buying (including another recent purchase by Sebaaly in June of 25,000 shares at $1.22 per share for a total of $30,500), Sunshine Biopharma has seen a number of potentially constructive developments in its business. These include:
Pioneering a novel Covid-19 treatment method, called SBFM-PL4, that reportedly targets a different part of the virus than other treatments.
Creating a flagship anticancer compound, Adva-27a, that, unlike other antitumor drugs, can destroy multi-drug-resistant cancer cells.
Filing a provisional patent application in the United States about the company’s mRNA cancer treatment results, which were shown to destroy cancer cells grown in culture.
Developing nutritional supplements, like Essential 9™, for sale in Canada and the U.S. on Amazon
The company also completed an acquisition of Nora Pharma, a Canadian pharmaceutical company offering generic and specialty drugs across the country, which adds $10.7 million in revenue for 2022.
With a focus on both oncology and antiviral drugs, Sunshine Biopharma is placing itself within two fast-growing markets. According to Bloomberg, the anti-viral drug market size is expected to reach $50 billion in 2030, and the oncology market is expected to be worth around $536 billion by 2029.
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In addition to working with the University of Arizona on the development of a treatment for COVID-19, Sunshine Biopharma is engaged in the development Adva-27a, a unique anticancer compound. Tests conducted to date have demonstrated the effectiveness of Adva-27a at destroying Multidrug Resistant Cancer Cells, including Pancreatic Cancer cells, Small-Cell Lung Cancer cells, Breast Cancer cells, and Uterine Sarcoma cells. Clinical trials for Pancreatic Cancer indication are planned to be conducted at McGill University’s Jewish General Hospital in Montreal, Canada. Sunshine Biopharma is also engaged in the development of a novel anticancer mRNA called K1.1. The data collected to date have shown that K1.1 mRNA is capable of destroying cancer cells in vitro including multidrug resistant breast cancer cells (MCF-7/MDR), ovarian adenocarcinoma cells (OVCAR-3), and pancreatic cancer cells (SUIT-2). Studies using non-transformed (normal) human cells (HMEC) have shown that K1.1 mRNA had little or no cytotoxic effects. K1.1 mRNA is readily adaptable for delivery into patients using the proven mRNA vaccine technology.
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Contact Details
Christine Petraglia - TraDigital IR
+1 917-633-8980
investors@sunshinebiopharma.com
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