Early stage biotechnology company PreveCeutical Medical (PRVCF: OTC, PREV: CN) has made considerable progress with an ambitious research pipeline focused on preventative and curative medicines. The Company has claimed several achievements in recent months, moving projects “closer to goal.’
We have had high hopes for the Company in 2018, and so far we have not been disappointed. PreveCeutical’s research and development partner, UniQuest based in Australia, has reported progress in every project in their joint pipeline.
Importantly, the Company was successful in raising capital to support its R&D program. A private placement of common stock and warrants raised CN$6.4 million (US$5.0 million) at the end of June 2018. CN$480,000 (US$371,000) was used to pay off certain debt, and the balance of proceeds is available to support operations.
Trading volume has increased in recent months and liquidity could improve even more with an increase in the constructive float following a stock split. Indeed, in the most recent trading sessions before publication of this reort, volume spiked sharply higher, triggering an inquiry from the Canadian securities agency. The Company issued a statement that no unusual developments had unfolded, suggesting the incremental volume was a matter of new interest in the stock.
We continue to view PRVCF shares as speculative and suitable for investors with a high tolerance for risk. There is a potential for immediate loss of capital due to wide bid-ask spread.
More details can be found in an update report dated September 24, 2018. Click on the image below to read the full 10-page report.
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