The U.S. Securities and Exchange Commission Thursday suspended trading in ArTec Inc. of Reno, Nev., through Jan. 7.
The SEC took the action amid concerns about the company's comments on a potential cancer treatment.
The company is traded on the Pink Sheets.
Artec Consultants is involved with Tubercin that reportedly has been effectively used in treatments of various cancers.
The company claims Tubercin is an immune system stimulant derived from a purified from of human tuberculosis bacteria that serves to strengthen all the elements of the human immune system and allow such elements to function together to allow the body to fight off disease.
Regulators said there appears to be a "lack of current and accurate information" about ArTec and they questioned the accuracy of assertions made by the company on its Web site, in press releases and in public statements to investors.
Among other things, regulators cited comments on ArTec's tests of Tubercin, a substance to treat cancer patients. In a recent press release, ArTec said it was receiving final patents in the U.S. for Tubercin and will seek a review by the Food and Drug Administration.
Brokers, shareholders, and prospective investors should "carefully consider" all current and subsequent information issued by ArTec, the SEC warned. It also reminded brokers that when the trading halt ends, they cannot begin quoting prices for ArTec stock unless they have sufficient information to do so.
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