Sunshine Biopharma - SBFM stock

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Sunshine Biopharma Inc. (NASDAQ: SBFM) is a Canada-based pharmaceutical and nutritional supplement company. The company focuses on the research, development, and commercialization of oncology and antiviral drugs. It also produces and distributes science-based nutritional supplements. The company explicitly dwells on the engineering of the licensed Adva-27a anticancer drug, a small molecule proven to be exceptionally effective at destroying Multidrug-Resistant Cancer Cells, including Breast Cancer cells (MCF-7/MDR), Pancreatic Cancer cells (Panc-1), Small-Cell Lung Cancer cells (H69AR), and Uterine Sarcoma cells (MES-SA/Dx5). The firm has a license agreement with the University of Georgia to facilitate the development of SBFM-PL4, its anti-coronavirus lead compound. Sunshine Biopharma, Inc. was incorporated in 2006 and has its headquarters in Pointe-Claire, Canada. The company’s stock is traded on NASDAQ Capital Markets under the ‘SBFM’ ticker symbol.[1]

Business Operations[edit]

Since its foundation, the company has been primarily focusing on research, development, and commercialization of propriety drugs for the treatment of different forms of cancer and other acute and chronic indications. Sunshine Biopharma owners created Sunshine Biopharma Carnada Inc. (“Sunshine Canada”) in 2014 to advance the generic pharmaceuticals business in Canada and across the world. In 2016, Sunshine Canada signed Cross Referencing Agreements with a major pharmaceutical company for the production of four prescription generic drugs, to be sold under the Sunshine Biopharma label, for the treatment of Breast Cancer, Prostate Cancer, and Enlarged Prostate. The products include Anastrozole (brand name Arimidex by AstraZeneca) for treatment of Breast Cancer; Letrozole (brand name Femara by Novartis) for treatment of Breast Cancer; Bicalutamide (brand name Casodex by AstraZeneca) for treatment of Prostate Cancer; and Finasteride (brand name Propecia by Merck) for treatment of BPH (Benign Prostatic Hyperplasia).[2]

Sunshine Biopharma’s product pipeline comprises Adva-27a, K1.1-mRNA, SBFM-PL4, and Essential 9. The company is focused on the development of Adva-27a, its lead product, used to combat the aggressive versions of cancer listed above, and the Anti-Coronavirus lead compound, SBFM-PL4. Adva-27a, a Topoisomerase II inhibitor, has displayed the robust capability of destroying lethal cancer cells. It is additionally involved in the development of specific mRNA molecules for cancer therapy. The firm, via Sunshine Canada, produces science-based nutritional supplements including Essential 9, a nutritional supplement capsule composed of the nine essential amino acids for the human body. The company currently sells Essential 9 via Amazon in Canada and the US.[3]


The company was incorporated in the State of Colorado on August 31, 2006, as “Mountain West Business Solutions, Inc.” It was originally a business consultation firm until October 2009, providing management services on accounting, computer, and general business issues for small and home-office-based companies. The company acquired Sunshine Biopharma, Inc., a company that held an exclusive license to Adva-27a, on October 15, 2009, in a classified reverse acquisition. The firm changed its name to Sunshine Biopharma Inc. upon completion of the transaction and began operating as a pharmaceutical company. The company acquired all worldwide issued (US Patent Number 8,236,935, and 10,272,065) and pending patents under PCT/FR2007/000697 and PCT/CA2014/000029 for the Adva-27a anticancer compound from Advanomics Corporation in December 2015. The company formed Sunshine Biopharma Canada Inc. in July 2014. Sunshine Biopharma’s entry into the pharmaceuticals business saw it become a fully integrated pharmaceutical company offering generic and proprietary drugs.[4]

Vital Company News[edit]

Effective February 9, 2022, the Company completed a 200-for-1 reverse split of its common stock. On February 15, 2022, the Company entered into an underwriting agreement with Aegis Capital Corp. as the underwriter, for the issuance and sale of 1,882,353 Units, each consisting of a share of common stock and two warrants, to purchase shares of common stock at a public offering price of $4.25 per Unit for total gross proceeds of $8,000,000 (“Public Offering”). The Public Offering closed on February 17, 2022, with the company netting $6,833,071 in proceeds. In conjunction with the above transactions, the firm’s shares of common stock and Tradable Warrants began to trade on Nasdaq. It declared no dividends through June 30, 2022.[4]

On August 4, 2022, the company announced that it had filed its 2022 second quarter results with the Securities and Exchange Commission. Highlights of the firm’s performances include:

  • Cash & Cash Equivalents of $41,727,775 as of June 30, 2022, compared to $2,045,167 as of December 31, 2021
  • The company garnered an additional $8 million in proceeds from a private placement of Common Stock and Non-Tradeable Warrants with certain institutional and accredited investors
  • Sales increased to $272,952 compared to $92,032 in the first half of 2021
  • The firm recorded a net loss of $1,775,106 compared to a net loss of $9,064,180 in the first half of 2021[5]


Directors and Officers[6][edit]

Steve N. Slilaty, Chairman, President, and Chief Executive Officer

  • An accomplished scientist and a highly skilled business executive
  • President and Chief Scientific Officer at Advanomics Corp. He is also an Adjunct Professor at the University of Quebec
  • Received his Bachelor of Science degree in Genetics and Biochemistry from Cornell University and his Ph.D. in Molecular Biology & Biochemistry from the University of Arizona.

Mr. Camille Sebaaly, Chief Financial Officer and Secretary

  • Over 20 years of experience in the engineering, development, and commercialization of emerging technologies worldwide over
  • Appointed to the position on October 15, 2009
  • Previously served in senior executive positions such as business development, financial management, project management, and finance
  • Graduated from the State University of New York at Buffalo with an Electrical and Computer Engineering Degree in 1987

Dr. Abderrazzak Merzouki, Chief Operating Officer and Director

  • A renowned scientist with over 20 years of experience in virology and immunology
  • Obtained his Ph.D. in Virology and Immunology from Institut Armand-Frappier in Quebec and post-doctoral training at the University of British Columbia and the BC Center for Excellence in HIV/AIDS research
  • Previously worked at the Institute of Biomedical Engineering in the Department of Chemical Engineering at Ecole Polytechnique de Montreal
  • Has extensive expertise in the design of expression vectors, and the production and purification of recombinant proteins

Corporate Governance[edit]

The company’s directors are committed to ensuring a completely transparent management system. The management, together with its auditors and legal team has stipulated specific guidelines to prioritize shareholder interest and ensure the highest standards of integrity in the governance of the company. The firm’s Code of Ethics equally applies to its principal executive officer, principal financial officer, and principal accounting officer.[7]

Legal Issues[edit]

The company is not a party to, and its property is not the subject of, any material legal proceedings. Following a supreme court ruling on the patentability of Human Genes in June 2013. Sunshine Biopharma came clean stating that its anticancer drug development operation was not dependent on and does not utilize human genes. The ruling hence did not affect any of the company’s activities.[8]

OTC Symbol: SBFM

The page is authored by: Caesar