After gapping up hard in the morning the stock market is mixed with some of the market averages up and some down. The market is saggy, however, shares of Sunshine Biopharma, Inc (OTCMKTS: SBFM) are up over 31% in morning trading to be one of the most heavily trades stocks on the US OTC exchange. Check out the chart.
Sunshine Biopharma is a small cap company with a market cap of less than $6 million. It’s rise is being driven by a press release the company put out today titled “Sunshine Biopharma And University Of Georgia Team Up To Develop A New Anti-Coronavirus Drug.” In it the company states that “it has entered into an Agreement with the University of Georgia for the purposes of working together to advance the development of Sunshine Biopharma’s recently announced Anti-Coronavirus lead compound, SBFM-PL4. The goal of this cutting-edge collaboration is to develop SBFM-PL4, a protease inhibitor, as a treatment for Coronavirus infections. This new treatment is based on the technology described in Sunshine Biopharma’s recently filed patent application covering small molecules which can be used to treat Coronavirus infections. Sunshine’s SBFM-PL4, will be put through a series of in vitro tests to evaluate its specific inhibitory activity against the SARS-CoV-2 papain-like protease (PLpro), one of two Coronavirus encoded proteases essential for viral replication. Following the initial in vitro studies, SBFM-PL4 will be moved forward to the cell culture testing stage and assessment in Coronavirus infected mice before entering human clinical trials.”
I have no idea how effective this drug could ever be and there has been no trials or serious studies released that could help us know. However, traders are looking for anything that could work, because if it does it would mean massive profits for those in the stock. So this stock is like a lottery ticket situation and it is making excitement as you can see from these tweets today.
$sbfm let’s do this!!! Buy now before it’s too late!!!!! 🚀— EL-Rafei (@Y_EL_Rafei) October 19, 2020
I do not have a position in this stock and am not trading it. Neither is Mike Swanson, who is the head editor of this website. You can get his free stock trading alerts by getting on his update list. To do that just click here to subscribe.