Sirona Biochem Corp. (TSXV: SBM) (FSE: SBM) is on a tear this month… and it could become a deciding factor in the June 2019 Stock Challenge. Sirona Biochem’s stock price hit a new 52-week high today, rising +24.49% from $0.52 to $0.61 after announcing that safety testing on its lead glycoprotein compound in its anti-wrinkle program yielded excellent results.
Via Sirona Biochem,
“The comprehensive safety analysis was performed by CEHTRA (www.cehtra.com), cosmetic toxicology specialists in Paris, France. Key in vitro measures and in silico analyses of safety were evaluated, including skin irritation, skin sensitization, ocular tolerability, phototoxicity, genotoxicity and carcinogenicity. It was concluded that there is no evidence of these issues in the testing. Also, based on in silico analysis, no systemic toxicity is expected.
Next steps in the program will include additional in vitro assays for a second review by CEHTRA to determine dosing. This will be followed by synthetic process refinements, synthesis of a batch for formulation, skin permeation study and clinical safety evaluation.”
Sirona Biochem believes that this anti-wrinkle compound (referred to as LIP-01) could have a dramatic impact on the global anti-ageing market, which is estimated to grow to US$271.0 billion by 2024.
“This anti-wrinkle compound [LIP-01] has fascinating properties in cells and we anticipate moving it along quickly. If clinically successful, LIP-01 could exceed Botox in market potential,” Dr. Verrico [CEO and Chairman of the Board] concluded.”
Stock Challengers have certainly favoured Sirona Biochem this month, given that 3 of the current top 5 Stock Challengers—including first-place member ‘djm1999’ and second-place member ‘Nate6’—have chosen it. Although yesterday’s first-place member ‘Pacelli’ slipped from first to seventh today, there’s still plenty of time left in this month’s challenge… don’t you dare lose hope, Pacelli!
In other news, Nightfood Holding Inc. (OTCQB: NGTF) broke out +15.73% today after announcing that it had been named a finalist in the 2019 World Dairy Innovation Awards, landing member ‘mike’ in third-place. Meanwhile, Ucore Rare Metals Inc. (TSXV: UCU) suffered a huge loss, retracting -25% despite recently hitting a new 52-week high.
While Sirona Biochem Corp. is certainly taking front and centre this month, it’s still too early to be handing out the silver quite yet…