RenovaCare Inc (OTCMKTS:RCAR) broke out higher in Wednesday’s trade on huge volume in response to news on the intellectual property front. That move up has failed to hold ground though. The recent run higher has taken shares up over 200% in the past 5 months. As noted, the move this week was been catalyzed by the news that the company has won out in a patent challenge proceeding.
Specifically, the company just announced it has decisively won against patent challenger, Avita Medical, in a proceeding at the United States Patent Office (USPTO). “I’m proud of the cutting-edge technologies developed by our team for the millions that suffer from burns and wounds and deserve access to the very latest in medical innovation,” stated Mr. Thomas Bold, President and CEO of RenovaCare.
RenovaCare Inc (OTCMKTS:RCAR) promulgates itself as a company that focuses on the acquisition, research, development, and commercialization of autologous cellular therapies for use in medical and aesthetic applications.
It develops a treatment methodology for skin isolation; and SkinGun, a medical-grade liquid spraying device and associated equipment for the regeneration of human skin cells. The company was formerly known as Janus Resources, Inc. and changed its name to RenovaCare, Inc. in January 2014. RenovaCare, Inc. is based in New York, New York.
The Company has developed its novel SkinGun for the ultra-gentle spray of a patient’s own skin stem cells on to burns and wounds for rapid healing. The potent, regenerative cells are isolated from a postage stamp sized donor site and suspended in a liquid, the CellMist Solution. The CellMist Solution is then sprayed on to wounds using the SkinGun. The entire procedure can be completed in as little as 90 minutes.
According to company materials, “RenovaCare, Inc. is developing first-of-its-kind autologous stem cell therapies for the regeneration of human organs. Its initial product under development targets the body’s largest organ, the skin. The company’s flagship technology, the CellMist™ System, uses its patented SkinGun™ to spray a liquid suspension of a patient’s stem cells – the CellMist™ Solution – onto wounds. RenovaCare is developing its CellMist™ System as a promising new alternative for patients suffering from burns, chronic and acute wounds, and scars. In the US alone, this $45 billion market is greater than the spending on high-blood pressure management, cholesterol treatments, and back pain therapeutics.”
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As noted above, shares of RCAR broke out on Wednesday in a big way in response to key IP news from the USPTO.
“Just as we’ve done with this challenge, we’ll aggressively protect our intellectual property while continuing to expand our patent portfolio and enhance shareholder value.” According to the release, “to-date more than 70 human patients with severe second-degree burns have been treated with the technology behind the RenovaCare SkinGun and its patents. Clinical results, case studies and data have been presented in numerous peer-reviewed publications.”
Traders will note 100% during the past month in terms of shareholder gains in the name. The situation may be worth watching. RCAR has a history of dramatic rallies. What’s more, the company has registered increased average transaction volume recently, with the past month seeing a bit over 430% over the long run average.
It pays to take note of this fact due to the limited float size in the stock (just a tad more than 20M shares). Traders should not overlook this combination, as a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed.
Now commanding a market cap of $569.6M, RCAR has a bankroll ($1.1M) of cash on the books, which is balanced by about $817K in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $RCAR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $RCAR, either long or short, and we have not been compensated for this article.