Sunshine Biopharma, the pharmaceutical company’s stock, soared around 180% on Wednesday as the entire stock market recovered after the tension between Russia and Ukraine eased a little. Ukraine’s President Volodymyr Zelensky announced that he is no longer interested in NATO membership- the reason behind the ongoing Russia-Ukraine War.
Sunshine Biopharma has a market capitalization of $15.616 Million and an average trading volume of 472,207 shares. The trading volume of the company’s stock jumped to 35,933,375 shares.
The SBFM stock has previously closed its trading at $1.520 but opened its trading on Wednesday, rising around 100%. Sunshine Biopharma (SBFM) stock trades at $4.8379, up 3.3179 points (+218.2829%) at the time of writing.
Though the company’s stocks have soared in the trading on Wednesday, SBFM stock has dipped around 47% in the last month after the company announced an $8 million public offering and uplisted to the Nasdaq Capital Market. Over the previous six months, the stock fell around 84%.
Sunshine Biopharma (SBFM) stock is in a way recovering from its losses over the period of the last few months.
Sunshine Biopharma (Nasdaq: SBFM) recently expanded its anti-coronavirus drug development program. The company entered a collaboration with the University of Arizona for advancing the development of novel PLpro inhibitors discovered by the University of Arizona and University of Illinois Chicago researchers.
In addition to working on the development of treatment of Covid-19, the company is also involved in the development of Adva-27a at destroying Multidrug-resistant cancer cells, which includes Pancreatic cancer cells, small-cell lung cancer cells, breast cancer cells, and uterine sarcoma cells.
About the Company
Sunshine Biopharma is a pharma company focusing mainly on researching, developing, and commercializing oncology and antiviral drugs. It is also engaged in developing and commercializing science-based nutritional supplements.