SBFM - Sunshine biopharma gains on announcing $2M share repurchase program
- Sunshine Biopharma ( NASDAQ: SBFM ) has authorized a share repurchase program to acquire up to $2M of the company’s common stock.
- As of September 30, 2022, the company had approximately $40.5M of cash and cash equivalents.
- The company had ~22.6M shares of common stock issued and outstanding as of November 7, 2022.
- “As we continue to make progress on our oncology and antiviral drug development pipeline and devote energy towards growing the sales and profitability of our recently acquired pharmaceutical company (Nora Pharma Inc.), we believe the current market environment and the Company’s healthy balance sheet allow us to capture additional value for our shareholders through this measured buyback program,” said Dr. Steve Slilaty, CEO of Sunshine Biopharma
- Shares are trading up 5.66% premarket.
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Sunshine biopharma gains on announcing $2M share repurchase program