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A Kite Pharma focusing on solid tumors with encapsulated cell technology.

A Moderna developing an encapsulated cell technology platform for cancer.

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• PancriCure™: This therapy for locally advanced, inoperable pancreatic cancer uses encapsulated cells to convert an inactive prodrug (ifosfamide) into its active chemotherapy form directly at the tumor.
• Encapsulated Melligen Cells (for Type 1 Diabetes): An investigational therapy designed to restore glucose-responsive insulin production in Type 1 diabetes patients using encapsulated genetically modified cells.
• Covalently Linked Anti-CD19-CAR T cells (cFLATs): A novel CAR T-cell therapy in development aiming for enhanced safety and efficacy in treating lymphomas and potentially solid tumors.

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PharmaCyte Biotech (PMCB) is a clinical-stage biotechnology company focused on developing therapies for cancer and diabetes using its Cell-in-a-Box® technology. As a company in the clinical development phase, it does not currently have major customers in the traditional sense of generating revenue from product sales to other companies or individuals.

According to its latest financial filings, PharmaCyte Biotech has not generated any significant revenues from product sales to date and does not expect to do so for the foreseeable future. Its operations have primarily focused on research and development, preclinical studies, clinical trials, and raising capital to fund these activities.

Therefore, PharmaCyte Biotech does not currently sell primarily to other companies or primarily to individuals. Its "customers" at this stage are primarily:

1. Clinical Trial Sites and Investigators: These are the medical institutions and professionals who conduct the clinical trials for PMCB's investigational therapies. While not customers generating revenue, they are critical operational partners in the development process.
2. Future Pharmaceutical Partners: If PMCB's drug candidates successfully complete clinical trials and receive regulatory approval, the company's long-term strategy would likely involve licensing its technology or products to larger pharmaceutical companies for commercialization and distribution. These companies would then become major customers/partners.
3. Investors: While not customers for products, investors (both institutional and individual) provide the capital necessary for the company's research and development, acting as a key financial stakeholder group.

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• Austrianova (Thailand) Ltd.
• Reva Pharma S.r.l.
• Forte Clinical S.A. de C.V.

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Joshua N. Silverman, Interim Chief Executive Officer, President, and Director

Joshua N. Silverman is the Co-Founder and Managing Member of Parkfield Funding LLC and a former Principal and Managing Partner of Iroquois Capital Management, LLC, where he was Co-Chief Investment Officer from 2003 to July 2016. Prior to Iroquois, he served as Co-Chief Investment Officer of Vertical Ventures, LLC, a merchant bank, from 2000 to 2003. He was also a Director of Joele Frank, a consulting firm specializing in mergers and acquisitions, and previously served as Assistant Press Secretary to The President of The United States. Mr. Silverman currently serves on the boards of Ayro Inc., MYMD Pharmaceuticals, Inc., Petros Pharmaceuticals, Inc., and Synaptogenix, Inc.

Carlos A. Trujillo, CPA, Chief Financial Officer and Principal Accounting Officer

Carlos A. Trujillo is a Certified Public Accountant with 35 years of experience in finance, accounting, and management. He began his career in public accounting, managing an audit department, and subsequently established and operated a consulting and accounting practice for ten years, providing Chief Financial Accountant services to various organizations across sectors including biotechnology, telecommunications, manufacturing, construction, and real estate development. For the past eleven years, he has served as Chief Financial Officer for both privately-held and publicly-traded multinational companies, bringing extensive experience in SEC reporting, mergers and acquisitions, and financial statement preparation.

Dr. José Iglesias, Consulting Chief Medical Officer

Dr. José Iglesias brings extensive experience in the development and testing of cancer chemotherapeutic agents, having held key positions at prominent biotechnology firms such as Eli Lilly, Amgen, Abraxis, and Celgene. As the global Vice-President of Clinical Development at Celgene, he led the team that secured FDA approval for Abraxane®, a first-line therapy for pancreatic cancer.

Robert Weinstein, Director

Robert Weinstein has served as Chief Financial Officer of Synaptogenix, Inc. since October 2013 and consults for Petros Pharmaceuticals, Inc. He possesses over 30 years of accounting and finance experience, encompassing roles as a public accountant, investment banker, healthcare private equity fund principal, and chief financial officer. Since September 2011, Mr. Weinstein has also worked as an independent consultant for several healthcare companies within the pharmaceutical and biotechnology industries.

Jonathan L. Schechter, Director

Jonathan L. Schechter is an experienced public company director with more than two decades of expertise in capital allocation and mergers and acquisitions, including ten years in legal and fourteen years in investment banking. He is currently a partner of The Special Equities Group, a division of Dawson James Securities, Inc., an investment bank focused on the healthcare, biotechnology, technology, and clean-tech sectors.

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The key risks to PharmaCyte Biotech (PMCB) are primarily centered around its drug development process, financial sustainability, and corporate governance.

1. FDA Clinical Hold and Regulatory Hurdles: PharmaCyte Biotech's core business revolves around developing cellular therapies, and its progress is significantly hampered by an ongoing clinical hold from the U.S. Food and Drug Administration (FDA) on its Investigational New Drug (IND) application for the Cell-in-a-Box® technology. The company needs to provide additional data and conduct more studies to address the FDA's concerns, and the timeline and success of resolving these regulatory issues remain uncertain. This directly affects the advancement and potential commercialization of its therapies for cancer and diabetes.
2. Lack of Revenue and Funding for Operations: As a biotechnology company in the development stage, PharmaCyte Biotech currently generates no significant revenue. Despite recently strengthening its cash position through strategic investments, the company's ability to consistently fund its operations for the foreseeable future is not assured. The company has demonstrated negative profitability, pretax income, and free cash flow, indicating an ongoing reliance on external capital or investment gains to cover its expenses.
3. Internal Control Weaknesses and Delayed Financial Filings: Recent financial disclosures have highlighted material weaknesses in PharmaCyte Biotech's internal controls, including insufficient segregation of duties for the Chief Financial Officer and inadequate management review controls. Furthermore, the company recently announced a delay in filing its Quarterly Report on Form 10-Q, citing the need for additional time to prepare and review financial statements. While the company stated no significant change in results of operations is anticipated, such weaknesses and delays can raise concerns among investors regarding the accuracy of financial reporting and the overall effectiveness of corporate governance.

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PharmaCyte Biotech (PMCB) focuses on developing cellular therapies for cancer and diabetes using its proprietary Cell-in-a-Box® encapsulation technology.

Addressable Markets for PharmaCyte Biotech's Main Products and Services:

• Pancreatic Cancer Treatment: The global pancreatic cancer treatment market was valued at USD 2.86 billion in 2023 and is projected to reach USD 10.69 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.8% from 2024 to 2032. In North America, this market was valued at USD 1.35 billion in 2023. The global pancreatic cancer market size was also reported as USD 6.95 billion in 2024 and is expected to reach approximately USD 12.21 billion by 2032, with a CAGR of 7.3% from 2025 to 2032.

• Type 2 Diabetes Treatment: The global type 2 diabetes market size was valued at USD 36.87 billion in 2023 and is poised to grow to USD 71.66 billion by 2032, at a CAGR of 7.72% during the forecast period (2025-2032). Another report indicates the global type 2 diabetes mellitus treatment market size was estimated at USD 57,467.4 million in 2023 and is projected to reach USD 91,966.5 million by 2030, with a CAGR of 6.9% from 2024 to 2030. North America was the largest revenue-generating market for type 2 diabetes mellitus treatment in 2023. The global diabetes drugs market, which includes treatments for both type 1 and type 2 diabetes, was valued at USD 88.32 billion in 2024 and is projected to grow to USD 233.84 billion by 2032, with a CAGR of 12.67%. North America dominated this market with a 49.95% share in 2024.

• Liver Cancer Treatment: While PharmaCyte Biotech is developing CYP-001 for liver cancer, specific addressable market size data for this product or the broader liver cancer treatment market was not found in the provided search results.

• Brain Cancer Treatment: PharmaCyte Biotech is developing a therapy for brain cancer. However, specific addressable market size data for this product or the broader brain cancer treatment market was not found in the provided search results.

• Type 1 Diabetes (Bio-artificial Pancreas): PharmaCyte Biotech aims to create bio-artificial pancreases for insulin-dependent diabetes. Specific addressable market size data for this particular therapeutic approach was not found, although the broader global diabetes drugs market (including type 1 and type 2) was valued at USD 88.32 billion in 2024.

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For PharmaCyte Biotech (PMCB), the expected drivers of future revenue growth over the next 2-3 years are intrinsically tied to the advancement and potential commercialization of its proprietary Cell-in-a-Box® live cell encapsulation technology and its therapeutic candidates.

1. Advancement and Commercialization of Pancreatic Cancer Therapy (CypCaps™ / CYP-001): The primary driver of future revenue growth is the successful progression and eventual commercialization of its lead product candidate, CypCaps™ (also referred to as CYP-001), for locally advanced, inoperable pancreatic cancer (LAPC). The company is actively working to address a clinical hold from the U.S. Food and Drug Administration (FDA) to move forward with its planned Phase 2b clinical trial. Successful completion of clinical trials, obtaining regulatory approvals, and subsequent market launch would be the most significant revenue generator. The therapy is also being explored for treating malignant ascites.
2. Expansion into Additional Oncology Indications: PharmaCyte Biotech's Cell-in-a-Box® technology is a platform designed for various cancer treatments. Beyond pancreatic cancer, the company is developing CYP-001 for liver cancer. Additionally, PharmaCyte plans to combine its encapsulation technology with cannabinoids to develop a unique therapy for difficult-to-treat cancers like brain cancer. Successful development and regulatory approval for these additional indications would significantly broaden the potential market and revenue streams.
3. Development and Commercialization of Diabetes Therapy: Another key driver involves the ongoing development of a cellular therapy for Type 1 and insulin-dependent Type 2 diabetes. This therapy utilizes the Cell-in-a-Box® technology to encapsulate genetically engineered human cells that produce and release insulin in response to blood sugar levels. The successful development and market introduction of this diabetes treatment could tap into a substantial and distinct patient population, offering a significant new revenue source.
4. Strategic Partnerships, Collaborations, and Licensing Agreements: While not direct product sales, revenue growth could be driven by strategic alliances and licensing activities related to PharmaCyte's Cell-in-a-Box® technology. The company has a notable cash position and is "reviewing multiple potential opportunities" to create value for stockholders, including potential partnerships and investments. The monetization of its intellectual property through licensing agreements could generate upfront payments, milestone payments, and royalties, contributing to revenue without direct product sales. Recent financial activities include strategic investments in other biopharmaceutical companies.

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Share Repurchases

• PharmaCyte Biotech authorized a share repurchase program of up to $10 million in June 2022, effective for a two-year period.
• A second share repurchase program, also for up to $10 million, was authorized in February 2023 for a two-year period, to be funded by available cash.
• Significant quarterly share buybacks include $26.28 million in July 2023, $4.23 million in April 2023, and $3.75 million in January 2023.

Share Issuance

• In August 2025, PharmaCyte Biotech completed a $7 million private placement with existing investors, involving the sale of Series C convertible preferred stock and warrants.
• This financing included 7,000 shares of preferred stock, convertible into 7 million common shares, and warrants to purchase an additional 7 million common shares.
• Shareholders approved an amendment to the 2022 Equity Incentive Plan in October 2025, increasing the number of shares available for awards by 2,250,000.

Inbound Investments

• PharmaCyte Biotech closed a $7 million financing in August 2025 through a private placement of Series C convertible preferred stock and warrants, led by existing investors.

Outbound Investments

• PharmaCyte Biotech made a $7 million strategic investment in MyMD Pharmaceuticals, Inc. in May 2024.
• In November 2023, the company acquired a $5 million stake in Femasys, Inc.
• PharmaCyte increased its investment in TNF Pharmaceuticals by $3 million in September 2025, supporting TNF's licensing agreement with LightSolver.