It’s been one heck of a ride over the last two trading days for shareholders of Sunshine Biopharma, Inc. (OTCMKTS:SBFM). The stock has soared more than 500% from $0.003 yesterday at 2 p.m. ET to over $0.015 after the company announced that they had executed a Patent Purchase Agreement with Advanomics Corporation, in which they acquired all remaining worldwide patent rights for their anti-cancer compounf known as Adva-27a. The patents which are a part of this deal include patent numbers: PCT/FR2007/000697 and PCT/CA2014/000029.
This purchase, which has amounted to $12,822,499, follows a similar purchase back in October when Sunshine Biopharma, Inc. (OTCMKTS:SBFM) obtained the rights of these patents in the United States. This move has lit a fire under shares of Sunshine Biopharma, as the company now has complete control over the rights of Adva-27a throughout the world. While many traders are speculating on a possible big pharma buyout, we must remember that this is still a penny stock and anything can happen. The company has stated that this deal will allow them to raise capital in order to gain FDA approval of the compound. Just how they will raise this capital will be of great interest to shareholders who certainly do not want to see the company begin to dump shares on the open market.
The stock is currently trading higher by 48.60% or $0.0052 following the positive news, hitting $0.0159 per share at the time of us publishing this article. About 56.52 million shares traded hands or up 519.74% from the average. SBFM has risen 6.00% since November 29, 2015 and is currently uptrending. It has outperformed the S&P500 by 8.27%.
Sunshine Biopharma, Inc. is a pharmaceutical company. The company has a market cap of $592,743. The Firm focuses on the research, development and commercialization of drugs for the treatment of various forms of cancer. It currently has negative earnings. The Company’s lead compound is Adva-27a, which is a GEM-difluorinated C-glycoside derivative of Podophyllotoxin, targeted for various forms of cancer.