synopsis

Its subsidiary launched Everolimus — a generic version of Novartis’ Afinitor — in the Canadian generic prescription drug market.

Sunshine Biopharma, Inc.'s stock rose over 3% on Monday, lifting retail investor sentiment, after the company said its Canadian subsidiary had launched a generic version of an oncology drug.

Nora Pharma launched Everolimus — a generic version of Novartis’ Afinitor — in the Canadian generic prescription drug market, Sunshine said. 

The drug is indicated for advanced renal cell carcinoma, breast cancer in certain post-menopausal women, some neuroendocrine tumors and tuberous sclerosis-related brain tumors. 

Sunshine said Everolimus is available in 2.5 mg, 5 mg and 10 mg strengths in 30-tablet blister packs.

The global Everolimus market is valued at $2.5 billion in 2023 and is projected to hit around $4.8 billion by 2032, the company said. 

The announcement sent message volume on Stocktwits about Sunshine Biopharma soaring over 14,700% in the 24 hours to late Monday, even as the stock slid over 1% in after-hours trading.

Sentiment among retail traders flipped to ‘extremely bullish’ from ‘bearish’ a day ago.

SBFM sentiment and message volume as of April 21. | source: Stocktwits

One watcher took heart from Everolimus' sales projections and said it "is going to blow someday."

Another user speculated that the company was soon going to form strategic partnerships.

Earlier this month, Sunshine reported new preclinical data for its K1.1 mRNA Lipid Nanoparticle product for hepatocellular carcinoma (HCC). 

Sunshine’s stock, which has a short interest of 6.6% according to Koyfin, has lost over half its value this year. 

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