ROCKVILLE, Md., May 27, 2016 /PRNewswire/ -- RegeneRx Biopharmaceuticals, Inc. (OTCQB: RGRX), a clinical-stage drug development company focused on tissue protection, repair and regeneration, made the following comments today on its stock price:
"We know of no reason why the stock price has declined over recent days. Based on the current stock price of RegeneRx stock, we believe the Company is significantly undervalued compared to other small biomedical companies with ophthalmic drug candidates in late clinical development, notwithstanding any value ascribed to our other clinical assets. Additionally, recent analysts' reports have independently valued the Company at a higher valuation. While our partners and licensees are responsible for funding clinical development of our ophthalmic product candidates in North America and Asia, we are working on securing capital to fund the Company's operations via both non-dilutive and other sources of capital. We are continuing to apply, independently and as part of a consortium, for grants from government and non-government organizations related to RGN-352, our Tβ4 formulation for systemic administration of RGN-352 for cardiac and central nervous system indications," stated J.J. Finkelstein, RegeneRx's president and chief executive officer.
About RegeneRx Biopharmaceuticals, Inc. (www.regenerx.com)
RegeneRx is focused on the development of a novel therapeutic peptide, Thymosin beta 4, for tissue and organ protection, repair and regeneration. RegeneRx currently has three drug candidates in clinical development for ophthalmic, cardiac and dermal indications, three active strategic licensing agreements in China, Pan Asia (Korea, Japan, and Australia, among others) and in the U.S. RGN-259, the Company's Tβ4-based ophthalmic drug candidate is being developed for dry eye syndrome and for the treatment of neurotrophic keratopathy (NK), both of which are being developed in the U.S through its joint venture, ReGenTree. ReGenTree has recently announced results from its Phase 2b/3 U.S. trial in patients with dry eye syndrome and is conducting a Phase 3 clinical trial for the treatment of patients with NK, for which it has been granted orphan status by the U.S. FDA. RGN-352, the Company's Tβ4-based injectable drug candidate, is a phase 2-ready drug candidate designed to be administered systemically to prevent and restore tissue damage associated with acute events such as heart attacks, strokes, and other similar injuries. RGN-137, the Company's Tβ4-based dermal gel, is in Phase 2 clinical development. The Company currently has licensed RGN-259 and other Tβ4-based product candidates to Lee's Pharmaceuticals, Ltd., in China, Hong Kong, Taiwan and Macau. For additional information about RegeneRx please visit www.regenerx.com.
Any statements in this press release that are not historical facts are forward-looking statements made under the provisions of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements and information presented by the company at investor conferences or via webcasts or to analysts involve risks and uncertainties that could affect any future outcomes expressed or implied by such forward-looking statements. Also, there also can be no assurance that any clinical trial, sponsored by the Company or any third party, will be performed on time and establish safety and efficacy necessary for regulatory approval, or that any drug candidate that is the subject of such trial will prove to be commercially valuable. There can be no assurance that our stock trading price will increase to the level of similarly-situated companies or to the value projected by analysts, any of the Company's drug candidates will result in any approved products in the U.S., China, or any other country, and no assurance that the Company can raise non-dilutive or other capital or will be successful at securing grants to fund additional basic or clinical research. Please view these and other risks described in the Company's filings with the Securities and Exchange Commission ("SEC"), including those identified in the "Risk Factors" section of the annual report on Form 10-K for the year ended December 31, 2015, and subsequent quarterly reports filed on Form 10-Q, as well as other filings it makes with the SEC. Any forward-looking statements in this press release represent the Company's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. The Company specifically disclaims any obligation to update this information, as a result of future events or otherwise, except as required by applicable law.
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SOURCE RegeneRx Biopharmaceuticals, Inc.