A Look At OncBioMune Pharmaceuticals Inc (OTCMKTS:OBMP) Clinical Trial of World’s First Early-Stage Prostate Cancer Vaccine Submission
OncBioMune Pharmaceuticals Inc (OTCMKTS:OBMP) is a biotech play in the prostate cancer space that has caught our eye as the stock tests key support along the $0.10 level. Specifically, the company came out on Tuesday to inform shareholders of a productive meeting with Glenn J. Bubley, M.D. and scientists from the host hospital regarding the Company’s upcoming Phase 2 trial of ProscaVax for prostate cancer. Dr. Bubley, Associate Professor, Medicine Harvard Medical School and Director, Genitourinary Medical Oncology, Beth Israel Deaconess Medical Center, has agreed to serve as the trial’s Principal Investigator.
That’s an important update for the company, as it suggests further momentum in terms of credibility with the market into the Phase 2 trial. The biotech space has been a real leader over the past 4 years, but endured a quiet 2016. That may position the group in a leadership role this year, and we will be avid trackers of OBMP, as well as other hot plays such as Axim Biotechnologies (NASDAQ:AXIM), CoLucid Pharmaceuticals (NASDAQ:CLCD), Corbus Pharmaceuticals (NASDAQ:CRBP), Exelixis(NASDAQ:EXEL), and Tesaro (NASDAQ:TSRO).
OncBioMune Pharmaceuticals Inc (OTCMKTS:OBMP) is a clinical stage biopharmaceutical company, develops cancer immunotherapy products. The company has proprietary rights to a breast and prostate patent vaccine; and a process for the growth of cancer cells and targeted chemotherapies. Its lead product is ProscaVax that is in the planning stage of a Phase II clinical trial for the treatment of prostate cancer. The company also has a portfolio of targeted therapies. OncBioMune Pharmaceuticals, Inc. is headquartered in Baton Rouge, Louisiana.
The stock is a potential speculator’s favorite, provided we start to see the right signs off the dime support level. So far, the company is pre-revenue, working with a market value around $1.8M. OBMP also has a relatively clean balance sheet. The company hasn’t stored up a lot of cash, but it also carries very low liabilities at present
Scaling Up the Credibility Factor
As noted above, the company is doing a solid job of grounding its upcoming Phase 2 trial in credible terms, nailing down Harvard’s Bubley as the trial’s Principal Investigator is a huge step toward ramping up market enthusiasm as data points start to come in over the next term.
As discussed in the release, Dr. Bubley and OncBioMune agreed upon the protocol for the mid-stage study in December. That data will evaluate ProscaVax, OncBioMune’s novel therapeutic cancer vaccine, in patients at disease presentation that have not undergone any other therapy. Per the planned protocol, prostate cancer patients will receive ProscaVax during active surveillance and results will be compared to prostate cancer patients not receiving ProscaVax during active surveillance.
Dr. Bubley has advised OncBioMune that the study is a prime candidate for submission to the Cancer Therapy Evaluation Program (CTEP) at the National Cancer Institute. CTEP coordinates the clinical therapeutics development program of the Division of Cancer Treatment and Diagnosis (DCTD) by reviewing clinical trials and evaluating their merits for collaboration and funding. OncBioMune is in the process of preparing documentation for submission and consideration by CTEP.
“We are very encouraged by Dr. Bubley’s suggestion that we take the concept and trial of ProscaVax to CTEP, as it certainly speaks to his confidence in ProscaVax and the valuable potential of the vaccine to meet a large area of unmet medical need in early-stage prostate cancer. Given that there are no drugs approved for prostate cancer at disease presentation, ProscaVax could be of great interest to CTEP,” commented Dr. Jonathan Head, Chief Executive Officer at OncBioMune. “CTEP is a peer-review program that requires a small amount of time and resources on our behalf to potentially help fund and accelerate patient enrolment in our clinical trial. This could be not only a tremendous monetary benefit to our company, but also very advantageous moving forward to have the continued support of government agencies to develop the world’s first prostate cancer treatment that is efficacious and free of side effects compared to current therapies.”
The stock has been active, but grinding lower into the dime support level. Our sense is one major key with a small float stock is transaction volume patterns. We like volume on the rise, on average, as key levels are tested.
That’s another positive right now for this stock as volume over the recent short term is up 51% in OBMP when compared with the stock’s long-term average. With a float of just 9.8M shares, that suggests any further influx could really start to turn this picture around.
With Phase 2 data set to stream in for the company on a product line heading into a $7.1 billion market, that small float could get bowled over at any moment, which is why this stock provides such an interest picture right now. Article Source: https://www.journaltranscript.com/2017/01/a-look-at-oncbiomune-pharmaceuticals-inc-otcmktsobmp-clinical-trial-of-worlds-first-early-stage-prostate-cancer-vaccine-submission/