Provectus Biopharmaceuticals, Inc. (OTCQB: PVCT), a biotech company specializing in developing oncology and dermatology therapies, announced today the appointment of Brendan O'Brien to its strategic advisory board.
Mr. O'Brien said, "Provectus is approaching a very important phase in its strategic business development. PV-10 for melanoma and other cancers offers patients new hope, and I view it as my job to ensure that the plans are in place to allow Provectus to get its treatment to the people who need it without delay on the corporate side. I am looking forward to the opportunity to be part of the process."
This news comes after PVCT saw its share volume remain steady with 365,641 exchanging hands on May 5th. PVCT closed at $2.33, just seven cents down (2.92%) from its previous close of $2.40.
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Elite Pharmaceutical's New Patent Keeps Volume Strong
Elite Pharmaceuticals, Inc.'s (ELTP) share volume stayed strong with 1,556,954 shares exchanging hands on May 5th. This steady volume continues after the company announced the issuance of a patent for their opioid abuse deterrent technology.
Elite's abuse deterrent products utilize the Company's proprietary pharmacological abuse deterrent technology. Elite's abuse deterrent technology is a multi-particulate capsule that contains an opioid agonist in addition to naltrexone, an opioid antagonist. Naltrexone is an opioid receptor antagonist used primarily in the management of alcohol dependence and opioid dependence. When this product is taken as intended, the naltrexone is designed to pass through the body unreleased while the opioid agonist releases over time providing therapeutic pain relief for which it is prescribed. If the multi-particulate beads are crushed, the opioid antagonist, naltrexone, is designed to release. The absorption of the naltrexone is intended to block the euphoria by preferentially binding to same receptors in the brain as the opioid agonist and thereby reducing the incentive for abuse or misuse by recreational drug abusers.
ELTP closed at $.4599, up $.0269 (6.21%) from its previous close of $.433.
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Dr. Matthias Lohr Joins To Play Major Role In Nuvilex's Phase 2b Clinical Trial
Nuvilex Inc.'s (OTCQB: NVLX) saw its share volume retain momentum on May 5th, with 1,564,862 shares exchanging hands. NVLX closed May 5th at $.315.
This continuity of trading comes at the heels of news released yesterday by the company stating its pancreatic treatment of Cell-in-a-Box combined with the anticancer drug ifosfamide will head into late phase clinical trials with Dr. Matthias Lohr, a familiar name to the field of oncology from Karolinska Institute in Stockholm, Sweden.
"Dr. Lohr's reputation as a leading oncologist, as well as his previous experience and belief in Nuvilex's Cell-in a-Box(R)/ifosfamide combination as a treatment for patients with advanced pancreatic cancer, make his input into our clinical trial invaluable," said Kenneth L. Waggoner, CEO and President of Nuvilex. "Because he was Principal Investigator in the two previous clinical trials with the Cell-in-a-Box(R)/ifosfamide combination in patients with pancreatic cancer, Nuvilex now has one of the world's top experts on the clinical use of this combination who will play a major role in this most important phase of its development as a treatment for one of the deadliest forms of cancer."
Dr. Lohr's role will be pivotal in assisting the Nuvilex team moving forward.
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MySkin Inc. To Change Its Name to United Cannabis Corporation
MySkin Inc.'s (OTCQB: MYSK) share volume soared on May 5th, with 86,003 shares exchanging hands, significantly higher than its three month average trade volume of 29,658 shares per day.
MySkin Inc. intends to change its name to United Cannabis Corporation and shall be referred to herin as UCANN.
UCANN is a biotech company with a foundation built in the medical cannabis industry. It has over 200 hybrid strains designed to provide treatment to a wide variety of patients. It plans to partner domestically and internationally with local businessmen, entrepreneurs, scientists, and government agencies for the purpose of consulting and providing guidance on design and construction of growth facilities and cultivation of medical grade cannabis-based products worldwide.
MYSK closed May 5th at $4.44, down $1.38 (23.71%) from its previous close of $5.82.
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