Provectus Biopharmaceuticals, Inc. (OTCQB: PVCT) saw its share volume slide on May 9th with 283,582 shares exchanging hands, significantly lower than its three month daily average of 696,514 shares.
Provectus Biopharmaceuticals recently announced it has appointed Brendan O'Brien to its strategic advisory board. Dr. Craig Dees, PhD, CEO of Provectus said, "Brendan brings real world experience of business planning and strategy development to the table, and Provectus values that expertise greatly. As we work through the regulatory process to put PV-10 for locally advanced cutaneous melanoma and other indications, and other preparations on the market, we anticipate relying heavily on Brendan’s knowledge."
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."
PVCT closed at $2.218 on May 9th, up a mere .82% from its previous close of $2.20.
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MRI Interventions Reports First Quarter Revenues
MRI Interventions Inc. (OTCQB: MRIC) saw its share volume skyrocket on May 9th with 489,145 shares exchanging hands, more than eight times higher than its three month daily average share volume of 59,254.
This uptick in volume comes after MRI Interventions reported total revenues of $823,000 for the first quarter of 2014. The company also announced its involvement in its sixth drug delivery trial.
"We are pleased to report that, for the fourth consecutive quarter, we continued to reduce our cash burn, decreasing cash used in operations to $1.4 million for the quarter," said Jenkins. "This is particularly noteworthy given our ongoing investment in building our sales, marketing and clinical support capabilities."
"We are very pleased to announce involvement in a sixth drug delivery clinical trial," said Jenkins. "In collaboration with Merrimack Pharmaceuticals and the National Institutes of Health, the University of California, San Francisco is sponsoring this newest trial, which is a Phase 1 study for the direct delivery of nanoliposomal irinotecan in adults for the treatment of certain recurrent high grade gliomas."
MRIC closed at $.92 on May 9th, down 12.38% from its previous close of $1.05.
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Elite Pharmaceutical's Share Volume Plummets
Elite Pharmaceuticals, Inc. (OTCQB: ELTP) saw its share volume plummet on May 9th with 1,386,358 shares exchanging hands, significantly lower than its three month daily average volume of 5,107,381 shares.
With no new news in the last couple of weeks, one can only speculate as to why its share volume is down, but here is what we do know about the company:
Elite Pharmaceuticals, Inc. develops oral sustained and controlled release products. Elite's strategy includes assisting partner companies in the life cycle management of products to improve off-patent drug products and developing generic versions of controlled release drug products with high barriers to entry. Elite has seven commercial products currently being sold, twelve additional approved products pending manufacturing site transfer and two additional products under review pending approval by the FDA.
Elite's lead pipeline products include abuse resistant opioids utilizing the Company's patented proprietary technology, and a once-daily opioid. They are sustained release oral formulations of opioids for the treatment of chronic pain, which address two of the limitations of existing oral opioids: the provision of consistent relief of baseline pain levels and deterrence of potential abuse. Elite also provides contract manufacturing for Ascend Laboratories (a subsidiary of Alkem Laboratories Ltd.) and has partnered with Epic Pharma for the manufacturing and distribution of eleven approved products pending manufacturing site, with Hi-Tech Pharmacal to develop an intermediate for a generic product, and a Hong Kong based company to develop a branded product for the United States market and its territories.
ELTP closed the day at $.384 on May 9th, merely 1.05% higher than its previous close of $.38.
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Advanced Cell Technology Inc. Continues Downward Trend In Share Volume
Advanced Cell Technology Inc. (OTCQB: ACTC) saw its share volume continue its downward trend on May 9th with 6,630,659 shares exchanging hands, nearly half of its three month daily average of 12,456,791 shares.
One can only speculate the cause for the slide in volume, but let’s take a look at what the company does:
Advanced Cell Technology, Inc., "ACT", is a company focused on the development and commercialization of human embryonic stem cell (hESC) and adult stem cell technology. The company's most advanced products are in clinical trials for the treatment of dry age-related macular degeneration and Stargardt's macular degeneration. These cell therapies are also clinical trial candidates for the treatment of myopic macular degeneration. ACT's preclinical programs involve cell therapies for the treatment of other ocular disorders and for diseases outside the field of ophthalmology, including autoimmune, inflammatory and wound healing-related disorders. The company’s intellectual property portfolio includes pluripotent stem cell platforms – hESC and induced pluripotent stem cell (iPSC) – and other cell therapy research programs.
ACTC closed that day at $.596 on May 9th, 1.53% lower than its previous close of $.0587.
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