PharmaCyte provides update on Cell-in-a-Box tech,evaluating uses for its cash

PharmaCyte Biotech provides an update on its investigation of its Cell-in-a-Box technology and initial next steps in development. Following a comprehensive scientific review of amassed data, the Company is in the process of requesting a meeting with the U.S. Food and Drug Administration FDA for guidance on further development of the technology. The meeting is expected to occur during the first quarter of 2024. In the meantime, the Company is reviewing multiple potential opportunities that it believes would be prudent uses for its approximately $74.6M cash position as of July 31 which was previously reported in the Company’s Quarterly Report on Form 10-Q filed on September 18. Pharmacyte Interim Chief Executive Officer Josh Silverman continued, “We have dedicated significant resources to comprehensively evaluate the status of the Cell-in-a-Box technology, and we look forward to future discussions with FDA, which may also compel us to seek partnership discussions. In the meantime, it is our intention to utilize our favorable $70M cash position to create additional value to our stockholders by reviewing additional potential partnership and/or investment opportunities that we believe will be accretive. We anticipate providing additional updates regarding these opportunities in the near term.”