Provectus Pharmaceuticals, Inc. (OTC-BB: PVCT), which is developing innovative cancer treatments alongside companies like Dendreon Corporation (Nasdaq: DNDN) and Genta Incorporated (OTC-BB: GETA), as well as a psoriasis treatment based on the same principle compound, appears well-positioned in terms of positive data and cash on hand as it approaches the end of its clinical trials.

Provectus Pharmaceuticals, Inc. (OTC-BB: PVCT) is a pharmaceutical company focused on developing cancer and psoriasis treatments based on the Rose Bengal compound. The unique dye has demonstrated in clinical trials the ability to selectively target and kill cancer cells when injected into legions, as well as treat psoriasis and atopic dermatitis as a topical treatment.

Clinical Trials Show Tremendous Promise

Provectus’ clinical trials for its PV-10 cancer treatment and PH-10 psoriasis treatment have both showed tremendous promise in clinical trials. As a result, investors are increasingly confident that the company will be able to attract commercialization partners in the near-term and attain FDA approval for its treatments in the medium term as they complete trials.

Among the 40 subjects in the company’s PV-10 Phase II trial, 33% achieved complete response and 28% achieved partial response, while 33% of the 21 subjects with bystander legions achieved complete response. After meeting with the U.S. Food and Drug Administration (FDA) earlier this year, the firm expects to have a second meeting before heading into final Phase III clinical trials.

Meanwhile, the company has also successfully complete Phase II trials of its PH-10 treatment, which met its efficacy and safety endpoints. Through a partnership with Numoda Capital Innovations LLC, the firm is now seeking to license its drug through the TruPoints strategic partnering platform. As a result, investors have two near-term catalysts in the pipeline that could move the stock.

Provectus Remains in Solid Financial Condition

Provectus also remains in a strong financial position with $12.5 million in cash and total liabilities of just $782,694. With such a strong cash position, the company does not anticipate needing to raise additional capital in order to complete its trials, while any potential licensure of its PH-10 drug could bring additional funds in the door in the near-term.

According to their latest 10-Q filing:

Our ability to continue as a going concern is reasonably assured due to our financing completed during 2009 and thus far in 2010, and warrants exercised in 2009 and thus far in 2010. Given our current rate of expenditures, we do not need to raise additional capital unless we commercialize PV-10 on our own to treat metastatic melanoma. Additionally, our existing funds are sufficient to meet what we expect to be minimal necessary expenses until 2012.

We intend to proceed as rapidly as possible with a licensure of our dermatology drug product candidate (PH-10) on the basis of our Phase 2 atopic dermatitis and psoriasis results, which are in process of being completed. We intend to also proceed as rapidly as possible with a majority stake asset sale and subsequent licensure of our OTC products that can be sold with a minimum of regulatory compliance and with the further development of revenue sources through a majority stake asset sale and subsequent licensing of our existing medical device, imaging, and biotech intellectual property portfolio.

Conclusions

Provectus Pharmaceuticals (OTC-BB: PVCT) remains in a strong financial position with two solid near-term prospects to treat metastatic melanoma and psoriasis. With a market capitalization of just $73.3 million, investors may want to take note of this relatively undiscovered play ahead of its many catalysts!