Regen BioPharma (OTCMKTS:RGBP) jumped 18%. The company said that at the end of September 2019, they had cash of around $7,885, but as of September 30, 2020, the company had 0 cash. The reduction is mainly a result of funds spent in the company’s nosiness operations. At the end of September 2020, accounts receivables were around $103,192 relative to $71,186 the year before.
The increase resulted from total royalties and anniversary fees of $27,424 granted to Zander by Regen at the end of each quarter. In addition, Zander had entered an agreement with Regen and KCL Pharmaceuticals in December 2019. It was to return for cancellation 194.29 million Series A Preferred common shares of Regen acquired via conversion indebtedness.
Early this year, the company and KLS, its subsidiary, entered an agreement with Oncology Pharma Inc. in which Regen was granted a license and exclusive rights for developing and marketing some IP for treatment of pancreatic cancer in humans from April 2021 through April 2036. With these developments, RGBP is worth keeping an eye on in the coming weeks.
Market Reaction:
On Wednesday, RGBP stock went up 18% at $0.018 with more than 131.87 million shares, compared to its average volume of 88.79 million shares. The stock has moved within a range of $0.0144 – 0.0197 after opening the trade at $0.0148.
