Shares of Rich Pharmaceuticals Inc (OTCMKTS:RCHA) Soar Despite Recent Dilution

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We have yet to cover Rich Pharmaceuticals Inc (OTCMKTS:RCHA) here on Street Register, so before we get into recent happenings with the company, allow us to provide a brief overview of its self-described core business.

 

RCHA is a clinical-stage biopharmaceutical company focused on developing innovative therapies in oncology, with initial concentration in treating Acute Myelocytic Leukemia (AML), Hodgkin’s Lymphoma (HL) and other blood related diseases. It is currently in Phase 1/2 clinical trials for the treatment of AML and HL. Rich Pharmaceuticals’ goal is to extend refractory patients life expectancy and increase quality of life.

 

Despite recently engaging in some dilutive activity, issuing shares to cover convertible notes as outlined in the company’s most recent 8-K filing (>>View EDGAR Filing), shares of Rich Pharmaceuticals Inc (OTCMKTS:RCHA) are presently on a sharp incline. Trading in the super-subpenny level as low as .0005 as recently as last week, the stock has cracked into the .003-range. That’s a jump of more than 500% and if that doesn’t turn people’s head we’re not sure what would.

The most recent updates from the company suggest that there is more of interest here than simply a runner on the chart. Early last month, the company announced that had filed its submission package to the Institutional Review Board (IRB) of Phramongkutklao Hospital in Bangkok, Thailand.

The submission is part of a process that leads to a study for the treatment of Acute Myelocytic Leukemia in refractory patients in a Phase I/II trial. “We are happy we’ve reached this milestone and we look forward to communicating further developments on this effort and other clinical milestones over time,” said Ben Chang, CEO.

The Company IRB submission was completed on May 31, 2017. An IRB is a group that is formally designated to review and monitor biomedical research involving human patients. This submission is integral to the Clinical Trial and drug approval process. (Source: Marketwired)

Shortly thereafter, RCHA revealed its principal doctor, Dr. Tontanai Numbenjapon, who will commence clinical trials in Thailand. Dr. 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.

Now that Rich Pharmaceuticals has filed an with the FDA and received approval to start phase I/II, operations have progressed to the site level at Phramongkutklao Hospital and a full package has been submitted to the hospitals IRB (Review Board). “Rich Pharmaceuticals is pleased to have reached such a milestone and we look forward to patient enrollment at Phramongkutklao Hospital with the help of Dr. Numbenjapon,” stated Mr. Chang. (Source: Marketwired)

This spring, the company also announced CannCodex , which is now tracking all updates and releases of new cannabis licensing in California with an easy to use and free access on the web at www.canncodex.com.

 

So in addition to being primarily focused on cancer study, RCHA also falls under the category of cannabis related stocks. This much is for sure, with multiple irons in the fire, and a streaking PPS on the chart, we’re very interested to continue tracking the RCHA story. Stay locked to Street Register for updates, and we’ll deliver important developments on RCHA as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!

Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in RCHA stock, short or long.

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