Sunshine Biopharma Inc.

Sunshine Biopharma Inc. (NASDAQ – SBFM) is a pharmaceutical business established in Canada that specializes in cancer and antiviral medicine research, development, and commercialization. The company also works on the creation and commercialization of science-based nutritional supplements.

Key Highlights

• Potential Global Market Opportunity for Cancer Treatments: SBFM reported on April 5, 2022, that two of its newly created mRNA molecules can kill cancer cells cultivated in the laboratory. But converting lab results into real-world scenarios is awaited news as this announcement was first released by Sunshine Biopharma Inc. on May 25, 2021, that Adva-27a, the Company’s flagship anticancer drug candidate destroys cancer cells but since has not seen any advancement in those lab results.
• Closure of USD 8 million private placement priced at the market: SBFM completed its previously announced private placement of USD 8 million with select institutional and accredited investors under a securities purchase agreement signed on March 10, 2022. The Pre-Funded Warrants are immediately exercisable at a nominal exercise price of USD0.001 and maybe exercised in whole or in part until all the Pre-Funded Warrants have been exercised. The Investor Warrants have a USD2.22 per share exercise price, are immediately exercisable, and will expire five years from the date of issuance.
• Technical analysis: Stock is classified as a highly volatile stock with a recent high standard deviation. The current price of the stock is USD 3.48 down 12.98% as of 26^th April 2022 at 10:32 am PDT. The next important support can be considered at USD 2.17, while the resistance of USD 4.35 on the daily chart if broken upward can start a bullish momentum.

One-year Technical Price Chart (as of April 26, 2022, 10:32 AM PDT). Source: REFINITIV, Analysis by Kalkine Group

Conclusion

Sunshine Biopharma Inc. is a company with huge predictions and expectations attached to it. There is no backing fundamental or strong technical on which a decision can be made to enter as of now.

We recommend a "Watch" rating on the stock at the current price of USD 3.48 as of April 26, 2022, at 10:32 AM PDT, with a further evaluation in case the positive results in the laboratory get transformed into strong financials or real-world implementation.

Technical analysis summary

* Current price as of April 26, 2022, at 10:32 AM PDT

Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.

Technical Indicators Defined: -

Support: A level where-in the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.

Resistance: A level where-in the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.

Stop-loss: It is a level to protect further losses in case of unfavorable movement in the stock prices.

Note 1: The reference data in this report has been partly sourced from REFINITIV.  

Note 2: Investment decisions should be made depending on the investors' appetite for upside potential, risks, holding duration, and any previous holdings. Investors can consider exiting the stock if the Target Price mentioned as per the valuation has been achieved and subject to the factors discussed above. 

Note 3: The report publishing date is as per the Pacific Time Zone.

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