PharmaCyte is a development-stage biotechnology company developing cellular therapy for locally advanced, inoperable, non-metastatic pancreatic cancer. The company uses its Cell-in-a-Box technology to encapsulate genetically engineered cells in cellulose-based capsules. PharmaCyte implants these capsules near a tumor to convert the chemotherapy prodrug ifosfamide into its active form locally. This targeted approach aims to concentrate cancer-killing agents at the tumor site while limiting systemic side effects. PharmaCyte targets patients who have failed standard first-line chemotherapy. The company currently operates as a pre-clinical business with no revenue. The FDA placed PharmaCyte's lead program on clinical hold in 2020. PharmaCyte has paused development spending to conduct a strategic review of its programs and its relationship with SG Austria, which holds the technical know-how for its technology. Since its licensed patents have expired, PharmaCyte relies on trade secrets and its contractual agreement with SG Austria. The company's business model depends on raising capital to fund clinical trials. If it achieves regulatory approval, PharmaCyte plans to either commercialize the therapy directly or license it to larger pharmaceutical companies. The company holds Orphan Drug Designation in the U.S. and EU, which offers potential marketing exclusivity. PharmaCyte owes SG Austria royalties on future sales and sublicensing revenue.