A California-based health-care company announced on Tuesday that two of its newly designed mRNA molecules are effective at destroying cancer cells grown in culture, according to the release. This exciting news sent shares of Sunshine Biopharma Inc. (NASDAQ:SBFM) flying.
Sunshine Biopharma is a pharmaceutical company focused on the research, development, and commercialization of oncology and antiviral drugs. In addition, it is engaged in the development and commercialization of science-based nutritional supplements. The company is focusing on the development of the licensed Adva-27a anticancer drug, a small molecule that has been shown to be exceptionally effective at destroying Multidrug-Resistant Cancer Cells, including Pancreatic Cancer cells (Panc-1), Small-Cell Lung Cancer cells (H69AR), Breast Cancer cells (MCF-7/MDR) and Uterine Sarcoma cells (MES-SA/Dx5).
Traders were extremely bullish on the news as shares shot up to $6.80/share (+200.88%) at the session high. This massive move was quite drastic seeing that shares closed at $2.26 just yesterday.