Regenicin Inc. (OTC: RGIN), a development-stage company focusing on tissue-engineered skin substitutes to restore human skin, has seen a sharp rise in its shares in trading today.
RGIN is currently trading 7.41% higher at $0.290 on above average volume of 4.48 million. The stock has gained more than 76% in the last three trading sessions.
RGIN shares are gaining momentum in today’s trading after the company announced that the FDA granted Orphan Status approval for its PermaDerm® product.
PermaDerm, which is the only tissue-engineered skin prepared from patient’s own skin cells, has been indicated for patients who have suffered severe burns. PermaDerm was previously designated as a biological/drug (permanent skin replacement) not a medical device (temporary skin replacement). The technology has already been clinically tested in more than 150 pediatric and adult, catastrophic burn patients and the results have been very encouraging.
Randall McCoy, CEO of Regenicin, said that RGIN is very excited about the Orphan Status designation for PermaDerm and this is extremely good news and a huge step for the product.
Recent Comments