RegeneRx Biopharmaceuticals Inc (OTCMKTS:RGRX) Stock Consolidates After The Recent Sell-Off
RegeneRx Biopharmaceuticals Inc (OTCMKTS:RGRX) stock has been trading in a narrow range over the past weeks after the recent fall. The stock is down 25% over the past month.
Market Action
In the previous trading session, RGRX stock slid 3.91% to $0.1645. A total of 175K shares traded for the session hands, well above its average volume of 80K shares. The stock opened at $0.1710 and moved in a range of $0.1585 – 0.1724.
Key Trigger
Researchers Identify Thymosin Beta 4’s Potential Role in Treatment of Acute Kidney Injury and the Reduction of Mortality in Patients with Sepsis
RegeneRx Biopharmaceuticals announced that a new independent research paper was published identifying Thymosin Beta 4’s (Tβ4) potential in the diagnosis and treatment of acute kidney injury and reduction of mortality in patients with sepsis.
Researchers conducted a prospective observational study measuring Tβ4 blood levels in a cohort of 191 patients within 6 hours of intensive care unit (ICU) admission after diagnosis of sepsis. Based on the Tβ4 concentration, the cohort was divided into three groups representing low, medium and high levels of Tβ4 in serum samples.
Patients were then followed for 28 days or until death. According to the study, 92 patients developed acute kidney injury (AKI), 29 patients died within 7 days, and 53 patients died within 28 days. After statistical analyses, the research team found that lower Tβ4 levels correlated with poorer prognosis and increased mortality risk in patients with sepsis. These correlations were statistically significant and remained significant when adjusted for demographics, co-morbidities and laboratory data.
Key Quote:
“This study elaborates previous published research on the relationship between Tβ4 and sepsis and demonstrates the possible role of Tβ4 in quickly assessing the state of patients entering the ICU with sepsis or sepsis-like symptoms. Equally important, the study hypothesizes that administering Tβ4 quickly to patients presenting with sepsis, or other systemic infections such as Covid-19, to reduce inflammation and cell death that damages internal organs such as the kidneys may be a viable treatment option,” stated Dr. Allan L. Goldstein, Chairman Emeritus of The Department of Biochemistry and Molecular Medicine at The George Washington University School of Medicine and RegeneRx’s chairman and chief scientific advisor.
Trader Notes:
On the technical basis, RGRX stock is trading well above its 50-day and 200-Day SMA stand at $0.22 and $0.34 respectively. Moreover, RSI at 35 signals that the stock is trading near an oversold zone.
