Provectus Pharmaceuticals, Inc. (OTC-BB: PVCT), a biotechnology company developing cancer and psoriasis treatments alongside companies like Genentech, Inc. (NYSE: DNA) and Biogen Idec Inc. (NASDAQ: BIIB), is stretching its healing hands towards the psoriasis market which could be worth more than $3 billion, according to industry sources.

Provectus is putting its PH-10 through the final stages of FDA testing in order to take care of people with psoriasis – what some believe is an autoimmune disease that typically creates dry scaly blotches on the skin and is not completely understood by the medical community. While it is not contagious, people who have psoriasis are afflicted with pain and itching. They may not be able to play sports or do some of the things that other people enjoy doing on a daily basis. Depending on severity, the disease can seriously affect the person’s life.

Along with the ability to effectively treat a major disease comes a significant market opportunity for companies like Provectus. Global Business Insights published a report that stated the global autoimmune market in “2006 was valued at $27.9bn”. Meanwhile, the autoimmune market that existed in 2006 in the United States was valued at “$11.9bn”. Clearly, a portion of these funds are going to go towards new innovative ways of taking care of people with psoriasis. Provectus is looking to dominate this segment of the market with their PH-10 as soon as it is available.

Pulling in new capital to move the FDA process further is always a good thing, and Provectus remains well-capitalized to advance their innovative portfolio. The company also currently has a market cap of $74.11 million and is now trading for around $1.00 per share, which could signal that it is undervalued given these growth prospects. As a result, investors may want to take notice and look at Provectus as a potential growth opportunity.