PharmaCyte Biotech, Inc. Announces Closing of $7 Million Financing
As of April 30, 2025, PharmaCyte had approximately $15.5 million in cash and also holds over $30 million of securities as reflected in the Company's most recent 10K. With the addition of the $7 million in proceeds from this financing, the Company's balance sheet has been further strengthened, providing significant financial flexibility to support its ongoing business initiatives and strategic growth opportunities.
'The successful completion of this financing is a welcome milestone as we continue on our growth trajectory,' said Josh Silverman, Interim Chief Executive Officer of PharmaCyte. 'We expect this additional capital, combined with our substantially reduced operational burn rate and our existing cash position and investments, to bring substantial value to our shareholders as we advance our initiatives and continue to evaluate opportunities that align with our long-term strategy.'
As of the date of this release, PharmaCyte has approximately 6.8 million shares of common stock outstanding.
Safe Harbor
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that express the current beliefs and expectations of PharmaCyte's management and Board of Directors. Any statements contained in this press release which do not describe historical facts are forward-looking statements subject to risks and uncertainties that could cause actual results, performance, and achievements to differ materially from those discussed in such forward-looking statements. Factors that could affect our actual results include our ability to satisfactorily address the issues raised by the FDA in order to have the clinical hold on our IND removed, whether our exploration of additional opportunities to create new paths toward shareholder value is successful, as well as such other factors that are included in the periodic reports on Form 10-K and Form 10-Q that we file with the U.S. Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, except as otherwise required by law, whether as a result of new information, future events or otherwise. More information about PharmaCyte Biotech can be found at https://pharmacyte.com.
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