PMCB Stock Jumps 25% After Company Sells Stake In Femasys
Synopsis
PharmaCyte noted that it now has approximately $25 million in marketable securities, in addition to roughly $20 million in cash.
- The stake sale comes on the heels of the company increasing its stake in TNF Pharmaceuticals in September by an additional $3 million.
- PharmaCyte said that it plans to continue pursuing value-accretive investment opportunities and disciplined operational management.
- The company said that monetizing its stake in Femasys will help strengthen its financial position.
PharmaCyte Biotech, Inc. (PMCB) said on Tuesday that it sold its stake in Femasys Inc. (FEMY), thereby increasing its cash and marketable securities to about $20 million.
The company had cash and marketable securities of only about $13.3 million as of the end of July. The company said that monetizing its stake in Femasys will help strengthen its financial position.
Shares of PMCB traded 25% higher at the time of writing.
PharmaCyte’s Financial Position
CEO Josh Silverman stated that the successful monetization of the Femasys position demonstrates the effectiveness of the strategic and disciplined capital allocation approach. “We are committed to deploying shareholder capital intelligently, balancing near-term returns with opportunities that can deliver sustained value creation,” he said.
Overall, PharmaCyte now has approximately $25 million in marketable securities, in addition to roughly $20 million in cash. The company highlighted its low stock price below $1 and added that it plans to continue pursuing value-accretive investment opportunities and disciplined operational management.
The stake sale comes on the heels of the company increasing its stake in Q/C Technologies, formerly known as TNF Pharmaceuticals, in September by an additional $3 million.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around PMCB jumped from ‘bullish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume rose from ‘high’ to ‘extremely high’ levels.
A Stocktwits user opined that the news shows the company has ways to generate cash without doing share offerings.
Another expects the stock to cross the $1 threshold.
PMCB stock fell 48% this year and by about 53% over the past 12 months.
For updates and corrections, email newsroom[at]stocktwits[dot]com<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.