RegeneRx Biopharmaceuticals Inc (OTCMKTS:RGRX) Stock Gains: Submits Phase 3 Protocol for Neurotrophic Keratopathy

If you are currently looking into those stock which had managed to generate gains on Tuesday then one of the stocks which may be on your radar is the RegeneRx Biopharmaceuticals Inc (OTCMKTS:RGRX) stock. The company saw its stock experience some action yesterday as it ended the day with gains of as much as 7%.

Trading Data

On Tuesday, RGRX stock rose 6.67% to $0.1600 with 5K shares, compared to its average volume 27.25K shares. The stock moved within a range of $0.1500 – 0.1500 after opening trade at $0.1500.

RegeneRx Partner Submits Phase 3 Protocol for Neurotrophic Keratopathy (NK)

The rally came about after the company provided an update with regards to HLB Therapeutics, which is its joint venture partner and licensee in the United States. It reported that HLB had submitted its protocol with regards to the second phase 3 clinical trial for the evaluation of RGN 259 for treating neurotrophickeratopathy (NK) to the United States Food and Drug Administration.

The submission had been made back on September 26. The product is being developed by ReGenTree, which is a joint venture between HLB and RegenRx. The latest development was a significant one as it signifies one more step towards the approval of the product in the United States. It was further noted that in the United States, ReGenTree was looking for clinical trial sites and had already contacted in excess of 70 ophthalmic hospitals and clinics.

Technical Data

RGRX stock is trading below the 20-Day and 50-Day Moving averages of $0.16 and $0.17 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.18.