Shares of Premier Biomedical Inc (OTCMKTS:BIEI) are trading down once again this morning after a major spike early last week. Shares rose last week to over $0.05, but over the last three trading days the stock has been in the red.
Premier Biomedical Inc (OTCMKTS:BIEI) shares initially took off in mid November after the company announced a Notice of Allowance on a broad base patent involving innovative extracorporeal treatment therapy. Their press release at the time had indicated that the technology within this patent could lead to a cancer cure. In the four trading days following this announcement shares went up over 1000% before leveling off and then jumping another 200% from their highs just last week.
With a total of 69 million shares outstanding and a float of approximately 40 million shares, this company, with a $1.8 million market cap seems undervalued to many traders, especially after an alleged joint venture investment worth approximately $25 million. The stock is down 14.52% or $0.0045 following the news, hitting $0.0265 per share. Approximately 363,175 shares traded hands. BIEI shares have declined 71.82% since May 14, 2015 and are currently downtrending. It has underperformed the S&P500 by 68.14%.
Premier Biomedical, Inc. is a research firm that intends to discover and develop medical treatments for humans, specifically focusing the treatment of Alzheimer’s disease , Fibromyalgia, Multiple Sclerosis (MS), Traumatic Brain Injury (TBI), Amyotrophic Lateral Sclerosis (ALS/Lou Gehrig’s Disease), Blood Sepsis and Viremia, and Cancer. The company has a market cap of $1.60 million. The Firm intends to develop its Sequential-Dialysis Technique, to focus Alzheimer’s disease, ALS, Blood Sepsis, Leukemia and other life-threatening cancers. It currently has negative earnings. Sequential-Dialysis Technique is a methodology for the removal of those molecules, which are harmful and responsible for causing diseases.