Why Are PharmaCyte Shares Moving Higher On Thursday?

PharmaCyte Biotech Inc PMCB stock is moving higher in reaction to the first test results of the biocompatibility studies of its CypCaps trial product candidate.
These results were from an "In Vitro Complement Activation Study of Empty Cellulose Sulphate Capsules," the same capsules PharmaCyte uses in its treatment for pancreatic cancer.
Related Link: What's Up With PharmaCyte Biotech Shares Today?
The results showed that the capsule material does not activate a major line of the human body's innate defense, the complement system.
The Company says that this is just one of the biocompatibility studies being performed. In the coming weeks, it expects that the results of other studies will become available.
Related content: Benzinga's Full FDA Calendar.
Price Action: PMCB stock is up 3.89% at $3.47 during the market session on the last check Thursday.