It's rare to see a young biotech generating revenue as it brings drug candidates down the clinical pathway, but that's exactly what OncBioMune Pharmaceuticals (OTCQB:OBMP) is doing. Earlier this month, the company acquired Mexico City-based Vitel Laboratorios, giving it two drugs commercialized in the Mexican markets and a pipeline of over 20 more products to add to its existing portfolio that is led by OncBioMune's flagship prostate cancer vaccine ProscaVax. Leveraging promising data from an ongoing Phase 1 study, ProscaVax is set to commence Phase 2 studies in the U.S. and Mexico in the near-term.
Shares of OBMP are hopping this morning on increased volume on news that sales of Bekunis and Cirkused, over-the-counter medications for constipation and stress, respectively, are outstripping expectations. Only launched last September, the products have combined sales of about $330,000 in their fist six months on the market. That's 164% higher than the $125,000 OncBioMune expected during the first months following launch.
OncBioMune sees sales for 2017 for the two drugs in the range of $750,000 - $850,000.
According to Manuel Cosme Odabachian, a Mexican pharma marketing expert and General Manager of Global Operations at OncBioMune, several more drugs are planned for launch in 2017, starting with the general health product Aagaard Propolis. Odabachian said with Aagaard Propolis commercialized, he believes total company revenue for OncBioMune's first full year of sales will top $1.0 million with high gross margins.
Investors are cheering the news, with shares holding gains of 18.2% at 28.9 cents after hitting a high of 31.5 cents shortly after the opening bell.
