Sunshine Biopharma (NASDAQ:SBFM) is rocketing higher on news of an exciting patent application filing. At the time of writing, SBFM stock has ascended more than 22% higher, with three times the average daily number of shares trading hands in the early morning session.
Sunshine Biopharma is certainly an intriguing company to look at. That’s because this pharmaceutical and nutritional supplement company has shifted its focus to targeting various anti-cancer treatments. In particular, one of the company’s focuses has been on using mRNA treatments to target cancer. Its Adva-27a treatment is one that is garnering a tremendous amount of interest of late.
Most investors have focused on mRNA vaccines, given the ongoing pandemic. Much larger companies such as Moderna (NASDAQ:MRNA) have been successful in using messenger RNA to target viruses, including Covid-19. And while Sunshine Biopharma has been targeting a Covid-19 vaccine as well, the company has found that mRNA can also be used to target various multidrug-resistant cancer cells.
Let’s dive into the announcement that has this stock soaring today.
SBFM Stock Soars on Patent Application Filing
Today, Sunshine Biopharma announced the company has officially filed a patent for mRNA molecules which it has found to be effective at destroying cancer cells that have been resistant to other drugs.
Thus, it’s perhaps no surprise to see SBFM stock soar on this announcement. The company wouldn’t file for a patent on something Sunshine Biopharma didn’t believe has any value. And as the company notes, successful pre-clinical trials of these compounds certainly paint a rosy picture.
While these trials were conducted via cancer cells grown in culture, some other notable findings have spurred investor interest today. Specifically, the company’s note that “the mRNA molecules had little cytotoxic effects on non-transformed (normal) human cells (HMEC cells)” is a big deal. For multidrug-resistant cancers, these compounds could have a rather significant market.
Today’s price action with SBFM stock appears to be warranted, as this is some very compelling news for biotech investors. Those bullish on a cure for cancer have yet another story to watch. Personally, SBFM stock has found its way onto my watch list.
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On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.