Sunshine BioPharma Stock News and Forecast: SBFM rally keeps going on breakthrough cancer treatment

Sunshine BioPharma Stock News and Forecast: SBFM rally keeps going on breakthrough cancer treatment
  • SBFM stock soared 148% on Tuesday on positive cancer mRNA news.
  • Sunshine BioPharma shares then added another 12% on Wednesday to close at $6.29.
  • The pharma company stock was up again in Thursday's premarket to $5.49.

Sunshine BioPharma keeps capitalizing on a breakthrough treatment for breast and ovarian cancer. The pharma company announced earlier in the week that it had discovered a successful mRNA treatment for these illnesses, which has helped SBFM skyrocket. Within the first hour of Thursday's Wall Street trading, the Canadian pharmaceutical shares are up another 27% at the time of writing, right at the $8 mark, having set an $8.18 high in the past minutes. This makes it a 235% rise in the past two days since the announcement. Technical analysis is helpless within this kind of volatility, so momentum trading is what matters now for SBFM stock.

Sunshine BioPharma has been one of the standout performers of the week with a staggering gain on Tuesday. SBFM stock immediately made it to the top of the charts on various social media stock chats and managed to hold those gains on Wednesday.

Sunshine Biopharma is a biotech company that is focused on developing and bringing to market antiviral and oncology drugs. Sunshine Bioharma is a small or even micro-cap company with a market cap of just over $40 million. It was only listed in February on the Nasdaq. The company is based in Montreal, Canada and also has partnered with the University of Arizona for an anti coronavirus drug development.

Sunshine Biopharma stock news: Anti-cancer discovery a multi-billion market opportunity

SBFM stock soared due to the company announcing that its mRNA treatment for cancer was effective. Two mRNA molecules were able to treat cancer which was grown in culture. The cancer cells were breast cancer and ovarian. Toxicity studies ie effects on humans were also positive and the company says it hopes to file a patent for the treatments soon.

The mRNA system is now widely known due to most covid vaccines using this technology. The mRNA vaccines work by introducing a piece of a viral protein into the human body. Human cells then produce this viral protein which induces an immune response and the body now produced antibodies to fight the virus. Once the human antibodies have destroyed the virus they are ready to deploy again if the virus is reintroduced to the body. That is the layman's version as I certainly am no scientist!

Sunshine BioPharam said the potential of this discovery is a multi-billion global market opportunity. Pharma investments are usually high risk and depend on trial results and patents, but Moderna (MRNA) is the most obvious example of the huge potential should a company or stock hit a home run.

Sunshine Biopharma (SBFM) stock forecast: Big spike to be followed by reversal?

For now, this certainly looks like very positive news for SFBM stock but it is a long road to bring a drug to commercialization. So we would always urge caution. SBFM shares have spiked on the enthusiasm and the momentum generated. This will begin to stall once newsflow dries up and momentum dies down in SBFM stock.

SBFM will then likely wait until the next data or patent news before reacting again. We can already see this in previous pharma stocks and indeed in SBFM itself. The chart below shows spikes followed by reversals before spiking again on more positive news.

If SBFM stock follows a similar pattern you would expect it to stabilize somewhere around $4.

Sunshine BioPharma Stock News and Forecast: SBFM rally keeps going on breakthrough cancer treatment - 1

SBFM stock chart, daily

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