MultiCell Technologies, Inc. (OTCMKTS:MCET) posted a big drop on Friday on massive volume and erased a large part of gains it posted on the previous day. The stock declined more than 16% to close at $0.00050 on massive volumes. The drop comes as a disappointment to all those investors who have endured months of nothing since it recorded huge gains in March 2014.
MultiCell Technologies surged sharply on Thursday after it announced an R&D and product license deal with Oxis Biotech to develop three novel antibody-drug conjugates consisting OXIS’ drug candidates using Multicell’s proprietary ADC platform technology. It is a late-stage Biopharma firm working on novel therapeutics for the cure of neurological disorders, cancer, and hepatic disease. Its majority-owned subsidiary arm is MultiCell Immunotherapeutics, which is a biotech firm developing drug delivery platform technologies and novel therapeutics to cure a variety of human diseases.
The drug candidate
MultiCell’s next-gen antibody drug conjugates offer for the instantaneous targeted delivery of numerous drugs from a single antibody. The innovative and targeted co-delivery feature allows the localization of drugs within a target cell. Both drugs exert their biological effect in the target cell and help to reduce adverse off-target effects.
MultiCell drug candidate, which is named as MCT-125, is an oral molecule drug combination meant for the cure of ‘primary multiple sclerosis-related fatigue.’ It affects more than 70% of all patients suffering from multiple sclerosis. The drug has proven efficacy in Phase 2a clinical study for the treatment of PMSF.
The other details
While significant advancement has been made in formulating cancer therapies that help in tumor regression, the control of disease over a longer remains a key objective. MultiCell is also developing therapeutics for the cure of cancer and MCT-475, MCT-485 and MCT-465 come in the family of prospective cancer therapeutics.