PMCB - PharmaCyte to evaluate opportunities; CEO steps down

• PharmaCyte Biotech ( NASDAQ: PMCB ), a biotech focused on cellular therapies, announced Friday that the company’s board has tasked its Business Review Committee with evaluating business opportunities to generate optimum value for shareholders.
• In addition, PMCB announced that the company appointed board member Joshua N. Silverman as the interim Chief Executive to replace Kenneth L. Waggoner, who resigned from the position effective October 06.
• Silverman is an investment professional who serves as the Managing Member of Parkfield Funding LLC.
• As part of the business review, the company has decided to continue the share buyback program for up to $10M worth of PMCB’s outstanding stock.
• In addition, the management is currently evaluating the concerns raised by the FDA in connection with the clinical hold imposed on the clinical trial application for Cell-in-a-Box technology. The company’s partnership with SG Austria for the technology is also under review.

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