Insider Buying: Sunshine Biopharma Inc. (NASDAQ: SBFM) Chief Financial Officer Purchases Shares

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Sunshine Biopharma Inc. SBFM is a fully integrated pharmaceutical company offering and researching life-saving medicines in a wide variety of therapeutic areas, including oncology and antivirals.

On November 30th, 2022, Sunshine Biopharma’s chief financial officer (CFO) Camille Sebaaly purchased 30,000 shares at $0.7635/share for a total of $23,000. The Canadian-based company is heavily focused on eradicating the virally-driven Covid-19 pandemic. While its expansion has seemingly calmed down in the West, the SARS-CoV-2 virus has resurged in China, triggering state-sanctioned quarantine mandates. 

Only months ago, Sunshine Biopharma Inc. announced a $19.5 million private placement priced at the market, a funding round aimed to help the Sunshine Biopharma team achieve its mission of eradicating the pandemic and creating life-saving anti-cancer treatments. 

An Overview Of Sunshine Biopharma

Aside from insider buying (including another recent purchase by Sebaaly in June of 25,000 shares at $1.22 per share for a total of $30,500), Sunshine Biopharma has seen a number of potentially constructive developments in its business. These include: 

    • Pioneering a novel Covid-19 treatment method, called SBFM-PL4, that reportedly targets a different part of the virus than other treatments.
    • Creating a flagship anticancer compound, Adva-27a, that, unlike other antitumor drugs, can destroy multi-drug-resistant cancer cells. 
    • Filing a provisional patent application in the United States about the company’s mRNA cancer treatment results, which were shown to destroy cancer cells grown in culture.
    • Developing nutritional supplements, like Essential 9™, for sale in Canada and the U.S. on Amazon
    • The company also completed an acquisition of Nora Pharma, a Canadian pharmaceutical company offering generic and specialty drugs across the country, which adds $10.7 million in revenue for 2022. 

With a focus on both oncology and antiviral drugs, Sunshine Biopharma is placing itself within two fast-growing markets. According to Bloomberg, the anti-viral drug market size is expected to reach $50 billion in 2030, and the oncology market is expected to be worth around $536 billion by 2029. 

Click here for more on Sunshine Biopharma.  

Featured Photo by Annie Spratt on Unsplash

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