Stock Alert for MultiCell Technologies Inc. (MCET)
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    MultiCell Technologies ($MCET) Surges 40%

    Shares of MultiCell Technologies, Inc. (OTC: MCET) surged more than 40% in today’s trading. Lincoln, Rhode-Island based MultiCell is an integrated biopharmaceutical company. At last check, the penny stock was up by 44.44% to $0.0130, with volume up from daily average of 1.98 million to 32.29 million.

    Shares of the OTC stock soared following the announcement made by the company today that it has been granted a European patent (EP 1539819B1) covering some of the company’s therapeutic candidates for the treatment of cancer. Jerry Newmin, chairman and CEO of MultiCell said, “We are very pleased that the European Patent Office has decided to grant us a patent covering our novel compositions and method for the treatment of cancer as well as for the treatment of infectious disease. Our technology uses the antibody molecule as a platform to better present a peptide to immune cells thereby increasing the overall immune response to the peptide.”

    According to a 10K filing by the company with the SEC, its therapeutics business addresses significant unmet medical needs for the treatment of neurological disorders and cancer. The company also mentions that its success depends in part on intellectual property protection and the ability of its licensees to preserve those rights.  So today’s news should definitely give a boost to the penny stock as well as to the company’s business prospects.

    The company’s 10K also mentions the risk associated with its business. We think that these factors can have a huge impact either way on the penny stock. The fact that the company’s drug candidates and cellular systems are in the early stages of clinical stages shows that there is a great deal of uncertainty about its future prospects. For one, the company won’t see any profit for a considerable amount of time and also sustaining any profit generated in the future would depend largely on the success of its treatment. Also, the company mentions that its strategy of focusing on therapeutic programs and technologies makes evaluating its business prospects difficult. And therefore it is very difficult to predict the direction of the penny stock.

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