Provectus Biopharmaceuticals Inc - PVCT stock

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OTC Symbol: PVCT | OTC Tier: OTCQB

Introduction[edit]

Provectus Biopharmaceutical Inc is a clinical-stage biotechnology company that is primarily involved in the development and research of immunotherapy medicines. These medicines are built using small molecules called halogenated xanthenes, the entire class of which is owned by Provectus Biopharmaceuticals. The company has several drugs and research studies under pipeline that are aimed at treating diseases in various areas such as oncology, dermatology, hematology, virology, microbiology, and ophthalmology. [1]

Management Team[edit]

The leadership and management team at Provectus Biopharmaceuticals is highly experienced with expertise in their respective domains. The leadership team consists of Bruce Horowitz (CEO), Eric Wachter (CTO), and Heather Raines (CFO).  [2]

Mr Horowitz has been the company’s CEO since 2019, prior to which he was the Chief Operations Consultant from 2017 to 2019. He is highly experienced in the capital markets with prior experience in Capital Strategists, Drake Capital Securities, and Stanley Capital. Dr Wachter has been a part of the company since 2012 and holds a PhD in Chemistry from the University of Wisconsin–Madison. Heather Raines is a CPA-Certified Accountant and has been associated with the company since 2017.

Provectus also has a team of a strategic and scientific advisory board that includes John Lacey III, Frank H. Akers, Harold Schmitz, and Aru Narendran. All of the members of the advisory board hold PhD in the medical field along with a vast experience in the medical industry that is helpful to Provectus Biopharmaceuticals in their research.  

Business Operations[edit]

The company is primarily involved in developing immunotherapy medicines for different diseases, based on a family of small molecules called halogenated xanthenes (“HXs”). The lead molecule used by Provectus Biopharmaceuticals is named rose bengal sodium (“RBS”). The company holds a number of patents for research which have been completed and continues further research for the production of investigational drugs and other technologies. [3]

The company’s primary product, PV-10, involves two-clinical stage formulations: a treatment for cancer of the skin and liver & treatment for dermatology-related diseases.

Financial Information[edit]

Provectus Biopharmaceuticals is a clinical-stage drug company that is pre-revenue, i.e., the company has not generated any substantial revenues to date. The company stated in its 2021 Annual Report that it has incurred net losses of approximately $246 million since its inception in January 2002. The company has also stated that they would require further capital in the coming years as they seek regulatory approval for our prescription drug candidates PV-10 and PH-10. [4]

Highlights of the 2021 Annual Report for the year ended on 31st December 2021, include the following updates: -

  • Total Operating Expenses declined from $4.9 million in 2020 to $4.6 million in 2021
  • Total Comprehensive Loss declined from $6.6 million in 2020 to $5.5 million in 2021
  • Cash and Cash Equivalents increased from $97,231 in 2020 to $682,984 in 2021
  • Total Liabilities of the company declined significantly from $30.7 million in 2020 to $7.7 million in 2021

Company News[edit]

On Nov 10 2022, announced that data from the Company’s ongoing, multi-cohort, Phase 1b/2 study of the combination therapy of cancer immunotherapy PV-10, a formulation of Provectus’ small molecule rose bengal sodium (RBS), and immune checkpoint inhibitor KEYTRUDA® (pembrolizumab) for the treatment of Stage III cutaneous melanoma would be presented at Melanoma Bridge 2022, which will take place in Naples, Italy and online from December. [5]

  1. Provectusbio.com. About Company. Retrieved on 11/13/2022
  2. Provectusbio.com. Leadership. Retrieved on 11/13/2022
  3. Sec.com. Provectus Bio Annual Report. As of December 30, 2021.
  4. Provectusbio.com. Investor Presentation. Retrieved on 11/13/2022
  5. Globe Newswire. Provectus Biopharmaceuticals Announces Acceptance of Small Molecule Cancer Immunotherapy PV-10® Stage III Melanoma Abstract at Melanoma Bridge 2022. Nov 10, 2022.

The page is authored by: Caesar