What a banner year it’s been for a number of companies, to the extent that buyers are putting holiday wishes aside and buying in.
EastGate Biotech Corp. (OTC:ETBI), with headquarters in West Caldwell, New Jersey and Toronto was out with tidings that sent its stocks through the roof Monday.
The pharmaceutical company that focuses on innovative technological developments specifically in insulin drug delivery for the treatment of Type 2 diabetes, provided an end-of-year 2019 Corporate and Development Highlights.
CEO Anna Gluskin reported, “This year, we turned the corner in our pathway toward the clinical development of Insugin. This year the company completed a successful Phase II study dosing approximately 50 Type 2 diabetes patients in Pakistan with the company’s liquid insulin mouth rinse solution.
“The positive results from the Phase II study attracted an influx of inquiries from both diabetes patients and potential partners alike; the latter of which are exploring regulatory requirements for local marketing activities.
"Most of our effort has been focused on preparing for the Phase III 90-day study. We are in the process of finalizing the CMC and any required Regulatory piece in the new- year. Attaining this Phase III milestone of dosing patients should also help us expand the number of indications in which we can use Insugin".
According to Monday’s news release, "EastGate Biotech focuses on innovative technological developments and produces and distributes innovative drug compounds and healthy nutraceuticals that are based on natural therapies absorbed by the body."
Shares soared 25.4% to 79-100ths of a cent near noon EST Monday, on volume of 1.8 million shares.
