Sunshine Biopharma Stock Rockets 150% in a Day: Are you Excited?
One of the best ways of having a higher chance of investing success lies in thorough research and by watching the market closely. Keeping an eye on the stocks that have recorded significant gains is one of the effective strategies and that brings us to the subject of Sunshine Biopharma, Inc. (OTCMKTS:SBFM).
On Monday, the Sunshine stock soared by as much as 150% on the back of a major development at the company a few days ago and it could be worthwhile for investors to take a closer look at the company. The company is primarily involved in the development of a molecule named Adva-27a, which is known for destroying Multidrug-Resistant Cancer Cells. Some of the drug cells it can destroy include Breast cancer cells, Uterine Sarcoma cells, pancreatic cancer cells, and Small cell lung cancer cells.
The stock has been on the way up due to a lot of accumulation among investors over the course of the past few days. In addition to that, trading volumes have also soared considerably over the past days and that has resulted in the remarkable rally in the penny stock. Plenty of investors continue to make higher bids on the stock and that has also been a contributing factor behind the rally. However, the basic trigger for the positivity around the Sunshine stock is not hard to decipher. Recently, Sunshine made a patent application for a treatment that is meant to tackle the novel COVID 19 virus.
The patent in question is related to the subject matter of the composition of the product. The subject matter consists of small molecules that are going to be responsible for inhibiting Mpro, the main coronavirus protease that is responsible for the viral replication. The molecules, which are the subject of this particular patent were modeled on a computer. It is a development that has created a lot of buzz for the stock this week and it is not surprising considering the fact that coronavirus cases are still being reported every day. In such a situation, the need for medicines that can inhibit the COVID 19 virus is more than ever.
In this regard, investors need to keep in mind that there are many other companies that are also working on similar products to tackle the coronavirus pandemic. However, the patent application is without a doubt a major milestone for the company and if granted, it could propel Sunshine to new heights. The rally in the stock on Monday proved to be eye-catching and it is almost certain to be in the sights of investors when trading begins today. It could be worthwhile for investors to keep an eye on the price action in the Sunshine Biopharma stock today.
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