Friday’s sensational trading session saw most traders face-palming themselves for having held on so tightly to the penny stock of Makism 3D Corp., Inc. (MDDD). Warned that the halt was due to come as soon as the promo began on MDDD stock 2 weeks ago, savvy traders got their 30% while novices learned an expensive lesson about what “Hard Mailers” mean in the eyes f the SEC. With the amount of cancer that has stricken the OTC markets over the last few months, it was a pleasure to see Provectus Pharmaceuticals, Inc. (PVCT) not only experience their largest volume trading session of the year, but also to see PVCT stock and in the top 5 traded together with 4 other REAL companies.
Our Next Pick Is Coming Soon! Click HERE To Make Sure You Don’t Miss Any Of Our Breaking Alerts!
PVCT Stock Quote
Market Cap: 215.56M
Last: 1.54 ▲ +0.25 (+19.38%)
Dollar Volume: $6,569,110
Issued and Outstanding: 139,974,331
14-Day Rel Strength: 89.14%
1st Resistance Point: 1.6467
1st Support Level: 1.3867
Looking for Hot Penny Stocks?
Click here To Receive FREE Penny Stock Alerts
After hitting a new 52 week high and setting a new record for volume on Friday, Provectus Pharmaceuticals, a development-stage oncology and dermatology biopharmaceutical company, is due to see a repeat performance Monday with a scheduled “special meeting of stockholders” set for the purposes of changing the company’s name to Provectus Biopharmaceuticals, Inc. and reincorporation of the Company in the State of Delaware from the State of Nevada. Although the news from the meeting is not expected to be anything life-changing, PVCT stock has been a superb performer since their 27th patent was awarded to them in early October, expanding and deepening the protection of their flagship drug candidate PV-10.
Provectus’ PV-10 and PH-10 drug candidates have proven to be safe so far for treating serious cancers and diseases of the skin. As the biopharmaceutical company continues to develop clinical trials for these products to show their safety and efficacy, investors will continue to have ample opportunities to ride momentum PVCT stock offers with bigger peaks sure to come when news of one or more license transactions with pharmaceutical and or biotech partners comes out.
Although they are still in trial-mode and have yet to record any revenues, Provectus raised $12,204,174 through the sales of PVCT stock and warrants during the first 9 months of 2013. With a cash balance at September 30 of $8,253,591, current liabilities of just $542,467 and R&D expenses running $1,296,654 during last quarter ($2,815,519 for the 9 months ended), dilution of PVCT stock should probably be a non-factor heading into 2014.
A couple of other pharmaceutical stocks under $5 to watch are Athersys, Inc. (ATHX) and DURECT Corporation (DRRX). ATHX stock just completed an offering at $2 and looks poised to move higher in the months ahead with multiple pending catalysts set for the first quarter of 2014. DRRX stock, at $1.52, is the lowest priced PDUFA play out right now. DURRECT’s PDUFA date is Feb 12th so they are within the 60 day time frame.
About PVCT Stock
Provectus Pharmaceuticals, Inc. is a development stage biopharmaceutical company focused on developing advanced therapies designed to target and destroy the deadliest cancers – melanoma, liver & breast – while eliminating side effects.
Last 5 Trading Sessions:
Although the end of the year is likely to bring on some selling pressure for longs to book gains, PVCT should remain a highly focused penny stock for the remaining weeks of 2013. The chances of getting a decent dip to the low $1 level prior to the middle of January, 2014 is looking good considering the pattern most pre-revenue oncology stocks have performed in past years. For today, expect a slight pull-back on PVCT which should be the trend to start each of the remaining trading weeks of this year.
Our Next Pick Is Coming Soon!
Text Keyword “AIMHIGH” To 99000 To Make Sure You Don’t Miss It!