Shares of Regen BioPharma Inc (OTCBB:RGBP) continue their rise in early trading today following a gain of over 17% yesterday. The company, which has recently received approval by the Food and Drug Administration to commence Phase I clinical trials for their drug HEMAXELLERATE, also expects to receive news from the FDA concerning their other drug DCELLVAX shortly. While the stock was up considerably yesterday, reaching a high of $0.22 per share, the market seems somewhat indecisive this morning with the price bouncing around quite a bit.
Despite the news, Regen BioPharma Inc (OTCBB:RGBP) shares are trading down over the last several months, as investors look for more clarity as to where the company may be headed in the long run. The approval by the FDA to commence trials on HEMAXELLERATE certainly seems to be a first step in what investors hope will be an eventual drug approval and multi-million dollar payoff.
The stock is up 1.30% or $0.002 following the news, hitting $0.195 per share. About 28,920 shares traded hands. RGBP has declined 16.45% since May 13, 2015 and is downtrending. It has underperformed the S&P500 by 12.77%.
Regen BioPharma, Inc. is a biotechnology company. The company has a market cap of $22.22 million. The Firm is focused on identifying undervalued regenerative medicine applications in the stem cell space. It currently has negative earnings. The Firm is also focused on developing treatments for Aplastic Anemia and a gene silencing therapy for treating cancer.