Regnum Corp. (OTC Pink: RGMP) operates as a biopharma company that focuses on late-stage commercial and clinical development projects. Shares of the late-stage biopharmaceutical company shot up as high as over 800% this morning, but have since receded to still-impressive gains of around 600%. Over the past thirty days, Regnum Corp. has seen an average daily volume of 167 shares. However, volume of 347,507 shares or dollar volume of around $364,882, has already exchanged hands through afternoon trading on Monday, January 10, 2022.
Shares of Regnum Corp. are skyrocketing after the company announced it has entered into a Commercialization and Licensing Agreement (CLA) and a related supply agreement with CytoDyn, Inc. (OTCQB: CYDY) and SevenScore Pharmaceuticals, LLC. The agreements are focused on U.S.-based commercializing of leronlimab (PRO 140) for the treatment of HIV.
Under the terms of the agreement, Regnum is granted an exclusive license to engage in the marketing and distribution of leronlimab in the United States for the treatment of HIV. CytoDyn is tasked with a continued focus on developing leronlimab, as well as obtaining FDA approval.
In consideration for the exclusive licensing, Regnum will pay regulatory and sales-based milestone payments, and a royalty of 50% of net sales. In addition, SevenScore will receive 4,094,023 shares of Regnum Corp. for the exchange of exclusive marketing and distribution rights.
Leronlimab was granted fast track designation from the U.S. FDA to CytoDyn for two possible indications. First is using leronlimab as a combination therapy with HAART for the treatment of HIV. Second, utilizing the drug candidate to treat metastatic triple-negative breast cancer (mTNBC).
The investigational treatment has completed nine clinical trials successfully in over 800 people. In the most recent Phase 3 pivotal trial, leronlimab met its primary endpoints in combination therapy to treat patients suffering from drug-resistant HIV.
“CytoDyn expects to file the BLA for leronlimab for the treatment of HIV with FDA in the first quarter of 2022,” stated Dr. Nader Pourhassan, President and CEO of CytoDyn. “We look forward to working closely with the Regnum team to launch leronlimab and bring this important new treatment option to patients infected with HIV.”
Regnum Corp. Chief Executive Officer, Anne Kirby, noted: “This is an important step towards Regnum’s evolution into a fully integrated biopharmaceutical company. Our partnership with CytoDyn aligns with our commitment to bringing novel therapies to patient populations in need of new treatment options or refined care plans.”
Disclosure: Neither Spotlight Growth nor its officers have any position or relationship with any companies mentioned in this article, but may choose to initiate a position at any time. No payment was made to create this article. This article should not be taken as a solicitation or recommendation to buy or sell any securities. Please conduct your own research and consult your financial advisor to determine your risk tolerance and investment path. We are not licensed brokers or investment advisors.
