Sunshine Biopharma (SBFM) Pulls Back Sharply On High Volume: Are You Worried?

Most of the companies which have been working on tackling the coronavirus pandemic have seen their stocks soar considerably and Sunshine Biopharma (OTC: SBFM) is no exception in that regard.

The stock may have corrected by as big as 50% from its recent highs but it should not be forgotten that it is still up by a staggering 600% in 2021 so far. In order to get a better idea about the situation with Sunshine, it may be a good idea to look into development from last month.

In February, the company announced that it inked a licensing agreement with the University of Georgia for the two compounds that the university developed in order to combat coronavirus. The licensing agreement in question is exclusive in nature. The company also said that it is going to work on the development of these compounds along with that of its own product SBFM PL 4. Sunshine is expected to work on testing the efficacy of these two compounds before advancing further.