Here is Why Sunshine Biopharma Stock Up 500% in Just 2 Weeks
Over the past months, many pharmaceutical firms have seen their stocks soar on the back of their efforts to come up with products to tackle the novel coronavirus. One of the latest companies to enter that fray is that of Sunshine Biopharma, Inc. (OTCMKTS:SBFM), which has seen its stock skyrocket over the course of the last two weeks.
During this period, the Sunshine stock has soared by as much as 500%, and considering the enormous gains recorded by the stock, it could be worthwhile for investors to perhaps take a closer look at the company. There has been a significant accumulation of the stock in recent times and that has been one of the biggest reasons behind its rise.
In addition to that, trading volumes have gone through the roof as well and the Sunshine Biopharma stock has managed to attract a large number of investors in the process as well. The reason behind the surge in interest about the Sunshine stock is understandable and it is primarily rooted in the fact that recently the company filed a patent application for its coronavirus treatment. The patent in question is related to computer-modeled small molecules created by Sunshine that helps in inhibiting the main coronavirus protease. The protease is mainly responsible for viral replication.
The move to make a coronavirus treatment is an interesting move from the company considering the fact that Sunshine is primarily involved in manufacturing generic and proprietary drugs for treating cancer. Over the years, the fully integrated pharmaceutical company has been involved with developing the molecule Adva-27a that is meant for treating aggressive types of cancer.
The stock has been in sharp focus in the last two weeks and it is going to be interesting to see if it can add to its gains this week or not. It is highly likely that Sunshine is going to be in the radars of investors this week and there is expected to be a certain degree of anticipation with the price action in the coming days.
The coronavirus pandemic is still at large and there is still no end in sight despite the promise of vaccines. Hence, this is a significant development in a number of ways. However, it should be noted that there are other companies that are working on such products as well, and ultimately, it might become a competitive race.
The name of the protease in question is Mpro and according to the Chief Executive Officer of Sunshine, it is an indispensable aspect of inhibiting viral replication. At this point in time, there is a lot of excitement about the patent that has been filed by Sunshine and it would be interesting to see how the company progresses with the project.
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