Propanc Biopharma Inc’s Lock-Up Period To End Tomorrow (OTCMKTS:PPCB)

Propanc Biopharma’s (OTCMKTS:PPCB) lock-up period is set to end on Wednesday, February 11th. Propanc Biopharma had issued 1,000,000 shares in its public offering on August 15th. The total size of the offering was $4,000,000 based on an initial share price of $4.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Propanc Biopharma Trading Up 2.7%

Shares of Propanc Biopharma stock opened at $0.20 on Tuesday. The stock has a market cap of $2.94 million, a P/E ratio of 0.00 and a beta of 3.66. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.01. Propanc Biopharma has a 12-month low of $0.16 and a 12-month high of $11.00. The business’s 50 day moving average is $0.51 and its 200-day moving average is $2.02.

Institutional Investors Weigh In On Propanc Biopharma

A hedge fund recently bought a new stake in Propanc Biopharma stock. Virtu Financial LLC purchased a new position in shares of Propanc Biopharma Inc (OTCMKTS:PPCB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 41,677 shares of the company’s stock, valued at approximately $71,000. Virtu Financial LLC owned 0.33% of Propanc Biopharma as of its most recent filing with the Securities & Exchange Commission.

About Propanc Biopharma

Propanc Biopharma Ltd is a clinical-stage biotechnology company focused on developing novel biologic drug candidates for the treatment of invasive and metastatic cancers. The company’s core technology centers on proprietary formulations of recombinant human proteolytic enzymes designed to degrade the dense extracellular matrix that surrounds solid tumors. By reducing stromal barriers, these candidates are intended to enhance the delivery and efficacy of co-administered chemotherapies, immunotherapies or other targeted agents.

The company’s lead program, known as PRP, comprises a combination of modified pancreatic proteases that have demonstrated promising preclinical activity in degrading tumor stroma and inhibiting tumor growth.