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Name | Symbol | Market | Type |
---|---|---|---|
Sunshine Biopharma Inc | NASDAQ:SBFMW | NASDAQ | Equity Warrant |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0074 | -9.22% | 0.0729 | 0.06 | 0.11 | 0.09 | 0.0729 | 0.09 | 5,183 | 21:45:02 |
Dear Fellow Sunshine Biopharma Shareholders,
On behalf of Sunshine’s Board of Directors, our senior management team, and employees, we are delighted to have you as our shareholders and as valued stakeholders of our corporate family. I am writing this letter to provide you with some of the important developments that have occurred at Sunshine over this past year and some insights into what we see ahead.
2022 has been a transformative year for the Company despite some challenging headwinds with the economy and financial markets. On February 17, we completed an $8 million public offering and up-listed to NASDAQ. Shortly thereafter on March 14, we completed a private placement for total gross proceeds of another $8 million and on April 28 we closed a third offering for $19.5 million in gross proceeds. These offerings, together with additional funds of approximately $12 million received from the exercise of warrants included in the aforesaid offerings, enabled us to expand our proprietary drug development program and complete a key acquisition which set us on the path of becoming a fully-integrated biopharma company.
We have vigorously pushed forward with our oncology K1.1 mRNA development program by entering into a key collaboration arrangement with a leading lipid nano-particle (LNP) formulation company in North America. Our LNP collaboration partner is currently preparing two LNP formulations for our antineoplastic K1.1 mRNA (K1.1a and K1.1b). We had previously demonstrated that K1.1 mRNA is capable of destroying cancer cells in vitro, including multidrug resistant breast cancer cells (MCF-7/MDR), ovarian adenocarcinoma cells (OVCAR-3), and pancreatic cancer cells (SUIT-2). Parallel studies using normal human cells (HMEC) showed that K1.1 mRNA had little or no cytotoxic effects. Beginning in March, 2023, our partner generated K1.1-LNP formulations will be used to conduct in vivo studies on xenograft mice expressing the in vitro tested human cancers as well as liver cancer. Should these mice studies prove successful, the Company can advance relatively rapidly to conducting human trials. The LNP formulated K1.1 mRNA can be readily adapted for delivery into patients using the recently gained knowledge from the mRNA vaccine technology.
We believe we have a solid foundation to move the Company forward into 2023 and beyond. Our objectives going forward will be focused on:
On a personal note, I am excited about what we’ve accomplished in 2022 and look forward to what the future holds as we solidly navigate the Company through 2023 and beyond. As a scientist, my overarching life’s mission is to make the world a healthier place for all.
On behalf of Sunshine Biopharma and our more than 40 employees, I would like to thank all of our shareholders and supporters. We appreciate the confidence you have placed in us and look forward to providing further updates as our progress continues. Wishing you an enjoyable Holiday Season and a healthy, happy, and prosperous New Year!
Very Truly Yours,
Dr. Steve Slilaty
Chairman & CEOSunshine Biopharma Inc.
Safe Harbor Forward-Looking Statements
This press release contains forward-looking statements which are based on current expectations, forecasts, and assumptions of Sunshine Biopharma, Inc. (the “Company”) that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, including statements related to the Company’s drug development activities, financial performance, and future growth. These risks and uncertainties are further described in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in the Company’s filings with the SEC. Reference is hereby made to cautionary statements and risk factors set forth in the Company’s most recent SEC filings.
For Additional Information:
Sunshine Biopharma Contact:Camille Sebaaly, CFODirect Line: 514-814-0464camille.sebaaly@sunshinebiopharma.com
Sunshine Biopharma Media Contact:Christine PetragliaTraDigital IRDirect Line: 917-633-8980investors@sunshinebiopharma.com
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