Rich Pharmaceuticals Inc (OTCMKTS:RCHA) is showing over a 150% increase today and the market seems to be reacting to potential opportunities for the company’s core business.
Acute Myelocytic Leukemia (AML), Hodgkin’s Lymphoma (HL) is a serious unmet cancer threat and RHCA filed an IND (more on this below) with the FDA to start a Phase I/II trial at the Phramongkutklao Hospital in Thailand. The news broke late last month, but with the holiday and the fact that it was overseas, it might have taken the market time to react and to understand who is conducting the study.
Rich Pharmaceuticals Inc (OTCMKTS:RCHA), according to company documents, is a clinical-stage biopharmaceutical company focused on developing innovative therapies in oncology and other blood related diseases. RCHA’s goal is to extend refractory patients life expectancy and increase quality of life.
The company’s primary development stage product candidate, RP-323, is being designed to treat blood and cancer related diseases through non-evasive outpatient facilities. RP-323 is a phorbol ester, which induces differentiation and/or apoptosis in multiple cell lines and primary cells, activates protein kinase C (PKC), and modulates the activity of multiple downstream cell signaling pathways, including mitogen-activated protein kinase (MAPK) pathways.
RP-323 induces PKC to produce NF kappa, which then produces NF kappa B that has the ability to regulate cellular responses by entering into the nucleus of cells. NF kappa B binds to DNA and changes the nature of the cell and (1) induces differentiation; (2) induces proliferation; (3) cytokine induction; (4) and/or apoptosis.
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RCHA is extra sub-penny, and it is a biotech stock, but the test being done in Thailand has some interesting appeal. Dr. Tontanai Numbenjapon specializes in medical oncology, hematology, and stem cell transplantation. He has over 14 years of experience in Hematology and Oncology.
“We are confident that Dr. Numbenjapon is the best and most qualified physician to head our research abroad, and look forward to his guidance as we embark on the next phase of our clinical studies,” said Ben Chang, CEO.
The IRB submission was completed in May and will monitor AML patients using the company’s therapy option.
Rich Pharmaceuticals Inc (OTCMKTS:RCHA) has reached a milestone, but is clearly a long way off before we are anywhere near readiness. The company is also coming off a dilution but a registered drug trial with a quality physician leading the way is something to take notice – even if it is overseas. A few years ago, this stock was worth more than $30. We are a long way off that and the company’s trajectory has changed, with now a market cap of $1.34 million and more than 252 million shares outstanding, but there might be value here if the trials start to progress well. We will be watching. For continuing coverage on shares of $RCHA stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $RCHA, either long or short, and we have not been compensated for this article.