PMCB - PharmaCyte Biotech says CEO to step down announces strategic review of business

• PharmaCyte Biotech ( NASDAQ: PMCB ) on Friday announced that its CEO Kenneth Waggoner had stepped down and said its board had authorized a business review committee to evaluate strategic opportunities for the company.
• Las Vegas, Nev. based PMCB is a biotech that is evaluating its live-cell encapsulation technology called Cell-in-a-Box for the potential development of therapies for cancer, diabetes and ascites, which is a condition in which fluid collects in the spaces within the abdomen.
• PMCB said its live-cell encapsulation technology involves encapsulating genetically engineered human cells that convert an inactive chemotherapy drug into its active or "cancer-killing" form.
• The company said it had appointed Joshua Silverman as interim CEO.
• The company also said it was assessing the concerns expressed by the U.S. FDA relating to the clinical hold placed on its investigational new drug application for the Cell-in-a-Box technology.
• PMCB stock +1.2% to $2.51 in early trading.

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