PharmaCyte Biotech Reports Second Quarter 2021 Financial Results and Operational Highlights

LAS VEGAS, December 15, 2021– (BUSINESS WIRE) – PharmaCyte Biotech, Inc. (NASDAQ: PMCB), a biotechnology company focused on developing cell therapies for cancer and diabetes using its live cell encapsulation technology, Cell -in-a-Box®, today announced financial results for its second quarter ended October 31, 2021 and provided an overview of recent operational highlights (PharmaCyte’s fiscal year begins May 1 and ends April 30).

Treasury : PharmaCyte had approximately $ 87 million in cash as of October 31, 2021.

Recent Second Quarter Highlights – Businesses:

Recent Highlights — Pipeline Products:

  • The Company’s capital increases have enabled PharmaCyte to spend what was necessary in Research and Development (R&D) expenses to perform the work required for the clinical suspension imposed by the FDA to be lifted. PharmaCyte will issue a year-end 2021 update to detail which tests / studies have been completed, which have started and which remain to be submitted to PharmaCyte to the FDA with updated data in its efforts to lift the clinical suspension of the FDA.

  • In August 2021, PharmaCyte announced its clinical trial product, CypCaps ™, which remains stable and active 18 months after completing the 18-month period of ongoing product stability testing required by the Food and Drug Administration (FDA). the United States.

  • In September 2021, the Company announced the first results of the biocompatibility tests of its clinical trial product candidate CypCaps. These positive results come from an “In Vitro Complement Activation Study of Empty Cellulose Sulfate Capsules”, the same capsules PharmaCyte plans to use in its treatment to treat locally advanced and inoperable pancreatic cancer (LAPC) . Initial results showed that the capsule material does not activate a major line of innate defense in the human body – the complement system.

  • In September 2021, PharmaCyte announced the results of a second FDA-required biocompatibility test of its product CypCaps for the treatment of LAPC. The results showed that the material of the empty capsule is “non-hemolytic”. Data showed that the capsule material does not cause blood cell lysis after direct or indirect contact with blood. In addition, it confirms previous data that has been observed previously in animal models and previous clinical trials.

  • In September 2021, PharmaCyte announced the results of a third biocompatibility test of its product candidate CypCaps for pancreatic cancer. The results showed that the material of the empty capsule is not “mutagenic”. A mutagen is a physical or chemical agent that permanently modifies the genetic material, usually DNA, in an organism and thus increases the frequency of mutations above the natural background level.

  • Since the close of PharmaCyte’s quarter ended October 31, 2021, PharmaCyte has announced that: (i) the empty capsule material that makes up its pancreatic cancer product CypCaps does not cause skin irritation, (ii) the onset a pivotal study to determine whether PharmaCyte’s treatment for pancreatic cancer, which PharmaCyte plans to use for the treatment of LAPC — CypCaps in combination with the cancer chemotherapy prodrug ifosfamide — may also delay the rate of production and breakdown. accumulation of malignant ascites. These are the fluid that accumulates in the abdominal cavity from various cancers, and (iii) the results of a further, more detailed analysis of the integration site of the cytochrome P450 2B1 gene of the genetically cellular clone. modified from the Company that it uses in PharmaCyte’s CypCaps. product for the treatment of LAPC.

Recent Highlights – Financial:

During the quarter ended October 31, 2021, PharmaCyte’s cash balance and total assets increased by approximately $ 86 million.

On October 31, 2021, PharmaCyte’s total equity increased by approximately $ 86 million compared to July 31, 2021.

PharmaCyte’s other expenses decreased by approximately $ 25,000 and $ 23,000 for the three and six months ended October 31, 2021.

Operating expenses increased for the quarter ended October 31, 2021, by approximately $ 55,000 and by $ 197,000 for the six-month period ended October 31, 2021, due to costs associated with a price increase from Nasdaq Capital Markets, at the close of two public offers and the establishment of these funds to be used in the start of new tests and studies related to the lifting of the clinical stop of the FDA on the treatment proposed by PharmaCyte for LAPC .

PharmaCyte’s R&D expenses have increased year-to-date to approximately $ 360,000 to date. The two capital increases of PharmaCyte carried out in August 2021 made these necessary expenses possible.

To learn more about PharmaCyte’s Pancreatic Cancer Treatment and how it works inside the body to treat locally advanced and inoperable pancreatic cancer, we encourage you to watch the company’s video documentary with medical animations on : https://www.PharmaCyte.com/Cancer

About PharmaCyte Biotech

PharmaCyte Biotech, Inc. is a biotechnology company that develops cell therapies for cancer and diabetes based on a proprietary cellulose-based living cell encapsulation technology known as “Cell-in-a-Box®This technology is used as a platform on which therapies for several types of cancer and diabetes are developed.

PharmaCyte’s cancer therapy involves encapsulating genetically engineered human cells that convert an inactive chemotherapy drug into its active or “anti-cancer” form. For pancreatic cancer, these encapsulated cells are implanted into the patient’s tumor blood supply as close to the tumor site as possible. Once implanted, a chemotherapy drug that is normally activated in the liver (ifosfamide) is given intravenously at one-third of the normal dose. Ifosfamide is transported through the circulatory system to where the encapsulated cells have been implanted. When ifosfamide passes through the pores of the capsules, the living cells inside act as a “bio-artificial liver” and activate the chemotherapy drug at the cancer site. This “targeted chemotherapy” has been shown to be effective and safe to use in previous clinical trials and we believe it causes little or no treatment-related side effects.

PharmaCyte’s therapy for type 1 diabetes and insulin-dependent type 2 diabetes involves encapsulating a human cell line that has been genetically engineered to produce and release insulin in response to blood sugar levels in the body. human body. Encapsulation of the cell line will be done using Cell-in-a-Box technology. Once the encapsulated cells are implanted in a diabetic patient, we predict that they will function as a “bio-artificial pancreas” for the production of insulin.

Safe harbor

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which express the current beliefs and expectations of the management of PharmaCyte. All statements contained in this document that do not describe historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results, performance and achievements to differ materially from those discussed in these forward-looking statements. Factors that could affect our actual results include our ability to raise the necessary capital to fund our operations and find partners to complement our capabilities and resources, our ability to satisfactorily resolve issues raised by the FDA in order to have the clinical stranglehold on our deleted INDs, as well as other factors that are included in the periodic reports on Forms 10-K and 10-Q that we file with the United States Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and we assume no obligation to update or revise any forward-looking statements, except as otherwise required by law, whether as a result of new information. , future events or otherwise.

You can find more information about PharmaCyte Biotech at www.PharmaCyte.com. Information can also be obtained by contacting the Investor Relations Department of PharmaCyte.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211215005364/en/

Contacts

Investor Relations:
Dr Gerald W. Crabtree
PharmaCyte Biotech, Inc.
Telephone: 917.595.2856
Email: [email protected]

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