SBFM - Sunshine Biopharma snaps winning streak (updated)

The shares of development-stage biotech Sunshine Biopharma (NASDAQ:SBFM) recorded the worst intraday decline in more than two years on Friday after recording three consecutive sessions of gains on the back of positive lab data on the anticancer effect of the company’s mRNA molecules. Despite the pre-market gains, the stock lost more than a third during the day, with ~89.6 million shares traded compared to the 65-day average volume of ~6.6 million. After trading slightly above $2.00 for much of April ahead of Tuesday’s announcement, the stock has more than doubled its value this week alone. The market chatter on Sunshine (SBFM) has also climbed with comments on the stock dominating social media sites, according to sites that track mentions of ticker symbols. Despite the recent interest, Sunshine (SBFM) has battled to maintain its share price over the past several years, announcing several reverse stock splits along the way.

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Sunshine Biopharma snaps winning streak (updated)