At Stock Day Media, we’re highlighting Sunshine BioPharma, Inc. (Nasdaq:SBFM), a Canadian-based pharmaceutical company focused on specialized drug development for numerous indications. With over 50 prescription drugs on the market and 27 additional products in development, investors will want to learn more about this uniquely positioned company below.
About Sunshine BioPharma, Inc.
Through the operation of two wholly owned subsidiaries, Nora Pharma Inc. and Sunshine BioPharma Canada Inc., Sunshine BioPharma, Inc. is a pharmaceutical company specializing in the research of life-saving medicines for a wide variety of therapeutic areas, including oncology and antivirals. Sunshine BioPharma currently trades on the Nasdaq under the ticker symbol ‘SBFM’ and is headquartered in Quebec, Canada.
Product Pipeline & Products in Development
Sunshine BioPharma currently offers a portfolio of over 50 prescription drugs, which are available on the market in Canada. However, the company also has an additional 27 drugs scheduled to be launched throughout 2023 and 2024 representing a variety of indications.
Sunshine BioPharma’s pipeline of products include generic prescription drugs in reference to brands like Prozac®, Cymbalta®, Lipitor®, Zoloft®, and Cialis®. Meanwhile, their drugs in development are designed for indications including cancer and COVID-19, which are currently referred to under laboratory names: Adva-27a, K1.1, and SBFM-PL4.
Clinical Trial & Research Timeline
In February of 2023, Sunshine BioPharma, Inc. signed a research agreement with the Jewish General Hospital (JGH) with the intent to complete IND-enabling studies for its pancreatic cancer indications, Adva-27a, as well as to facilitate Phase I Clinical Trials in the future.
The company recently entered into an agreement with an additional specialized partner for the formulation of its K1.1 mRNA molecules into lipid nanoparticles, which would be used to conduct studies in xenograft mice. Sunshine BioPharma hopes to commence these studies within the next 12 months.
In February of 2023, Sunshine BioPharma announced the signing of an exclusive worldwide license with the University of Arizona for its PLpro inhibitor for COVID-19. Sunshine BioPharma CEO, Dr. Steve Slilaty, commented on the announcement: “The encouraging research results we have obtained in our collaboration with the University of Arizona prompted us to exercise our option to license,” he shared. “We are very pleased with this milestone in terms of securing the intellectual property of the project as we continue to move forward with the development of our COVID-19 treatment pipeline.”
2nd Quarter Financial Results
Sunshine BioPharma, Inc. recently announced its second quarter results, including gross revenues of $5,560,865 in revenues, representing a 3,600% growth over the same period in 2022 and a 13.6% increase over first quarter results. The Company noted that this increase was largely due to prescription drug sales through its subsidiary Nora Pharma, Inc., which was acquired in October of 2022.
Learn More About Sunshine BioPharma, Inc. Today!
Despite its proven record for growth, Sunshine BioPharma, Inc. continues to remain undervalued, representing a significant opportunity for investors. Aegis Capital Corp. published a recent report providing Sunshine BioPharma with a Buy Rating, while also placing a $2.60 target price on the stock. With a market cap of just over $11.8 million dollars and a stock price of 0.488 cents, investors are encouraged to learn more about Sunshine BioPharma, Inc., here. For more information about Sunshine BioPharma and their upcoming projects and announcements, visit StockDayMedia.com.