MultiCell Technologies (OTC: MCET) managed a huge breakout today, after the company’s updates on preclinical results for cancer treatments. The stock traded at the high of the day of $0.003 per share shortly after 11:00 a.m. and eventually closed at a share price of $0.0022, or 46.7% higher than its previous close. Volume surged to a total of 60.4 million shares, bypassing its average of 6.83 million shares.
Today, MultiCell Technologies announced the updated preclinical research results for MCT-465 and MCT-485. MCT-485 showed “in vitro” dose-effect cytotoxicity on several human hepatocellular carcinoma cell lines, and induced robust TNFalpha and some IL-6 expression. In contrast, MCT-465 showed no cytotoxicity or anti-proliferative effect.
The research results support further mechanistic and “in vivo” studies exploring the safety, effectiveness and utility of MCT-465 and MCT-485 as novel therapeutic agents as a treatment for hepatocellular carcinoma and other cancers. Hepatocellular carcinoma is the most common form of primary liver cancer and a leading cause of cancer death.
On August 5, 2012, The Bedford Report provided equity research on MultiCell Technologies and Aastrom Biosciences regarding their goals of shattering stem cell myths. Earlier this year, MultiCell Technologies was granted a patent relating to the isolation and use of human liver stem cells to treat liver disease. The patent describes methods to isolate and use human liver stem cells to treat degenerative liver diseases, or inherited deficiencies of liver function. According to MultiCell Technologies, “The role of liver stem cells in the carcinogenic process has led researchers to hypothesize that primary liver cancer arises by maturation arrest of liver stem cells.”
A number of newsletters have promoted MultiCell Technologies. There are 49 results found on stockpromoters.com regarding the promotion for MultiCell, while none of the recent promotions are listed as being compensated. On Twitter, @pennystock24 mentioned that Penny Trader COM promoted MultiCell today.
MultiCell Technologies is a biopharmaceutical company engaged in developing therapeutics and discovery tools to address unmet medical needs for the treatment of neurological disorders, hepatic disease, cancer and interventional cardiology and peripheral vessel applications. MultiCell is pursuing research and development that targets degenerative neurological diseases, including multiple sclerosis and cancer.
MultiCell operates three subsidiaries: wholly owned MCT Rhode Island, 95.3% owned Xenogenics and 67% owned MultiCell Immunotherapeutics. As of November 30, 2011, the company’s portfolio of drug candidates, preclinical and clinical development included MCT-125, MCT-465, MCT-475 and MCT-485.