Key points:
- Sunshine Biopharma (SBFM) stock soared 174.3% on mRNA cancer drugs.
- The company revealed that its mRNA drug molecules could treat cancers.
- Investors cheered the move, although the tests are in their early stages.
The Sunshine Biopharma, Inc. (NASDAQ: SBFM) stock price soared 174.3% after revealing that two of its latest mRNA molecules effectively destroyed cancer cells grown in culture.
Investors cheered the news that could unlock new ways of treating drug-resistant cancers using the mRNA technology similar to that used to design the highly-effective COVID-19 vaccines.
Also read: The Best Biotech Penny Stocks Under $5 To Buy Now.
The pharmaceutical company said it plans to file a patent application related to its latest discovery as it continues working on the molecules to turn them into commercial drugs.
Given that today’s news relates to preliminary preclinical findings, the mRNA molecules still have a long way to go before being ready for commercial use since they still have to pass through multiple clinical trials.
Therefore, investors should align their expectations with today’s announcement’s long-term underlying nature. The new drug molecules were tested on multiple drug-resistant cancers, including ovarian adenocarcinoma cells (OVCAR-3), breast cancer cells (MCF-7/MDR), and pancreatic cancer cells (SUIT-2).
The last time we covered Sunshine Biopharma’s stock price was when it had rallied over 290% without the company releasing any news, which shows that there will be plenty more rallies in future given today’s rally.
Investors were impressed that the mRNA molecules had little to no cytotoxic effects in healthy cells, which bodes well for their long term use in cancer patients without significant adverse side effects.
Sunshine Biopharma also noted that the molecules could be easily administered to patients via the same technology used to administer the mRNA vaccines. Investors cheered the news, evidenced by the rally in SBFM shares today.
Dr Steve Slilaty, Sunshine Biopharma’s CEO, said: “We are delighted by these findings in connection with our ongoing mRNA-as-therapeutic-agents research. The potential use of mRNA to treat cancer opens the door to many possibilities for patients, including convenience, reduced toxicity and enhanced efficacy.”
Investors who have missed out on today’s rally should not chase the price higher since that is never a good idea. Instead, they should wait for a pullback, which will create a better entry opportunity.
*This is not investment advice. Always do your due diligence before making investment decisions.
Sunshine Biopharma stock price.
The Sunshine Biopharma stock price soared 174.33% to trade at $6.20, rising from Monday’s closing price of $2.26.