RenovaCare, Inc. (OTCPINK: RCAR) made a nice move up last year culminating in highs of $4.49, the stock peaked in December after the Company issued an update to shareholders. Since then its dropped some and RCAR Investors are waiting for another leg up.
We have covered RCAR in the past noting in March of last year- RCAR is a volatile stock that saw an explosive move up off its base at $1.50 on the news. The stock has a history of fast explosive moves running to $12.82 highs earlier this year.
RenovaCare, Inc. (OTCPINK) is developing first-of-its-kind autologous (self-donated) 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. RenovaCare has developed its novel SkinGun™ as a potential alternative to skin grafting and other options, such as in-vitro cultured epithelial grafts that require a specialized and expensive external laboratory. RenovaCare products are currently in development. They are not available for sale in the United States. There is no assurance that the Company’s planned or filed submissions to the U.S. Food and Drug Administration, if any, will be accepted or cleared by the FDA.
RCAR took off last year after an equity financing for $15.5 million from Kalen Capital Corporation, the family office of Mr. Harmel S. Rayat, majority shareholder and Chairman of RenovaCare. This increases his family office’s total equity investment in RenovaCare since 2013 to over $20 million.
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CEO Mr. Harmel S. Rayat stated after his $15.5 million investment “Our long-term investment in RenovaCare speaks to our conviction that patients worldwide urgently need and deserve our regenerative SkinGun™ therapy, which sprays a patient’s own stem cells for rapid self-healing. I’m more confident than ever in our mission to replace painful and costly skin grafting surgeries with an ultra-gentle healing mist of one’s own skin cells. I believe we are in the right place, at the right time and with the right technology. Today’s investment round is earmarked to advance the Company’s regulatory approval process and clinical trial program.”
CEO, Mr. Alan L. Rubino stated in a letter to shareholders on December 7: For me, 2019 was clearly a pivotal year for RenovaCare. We were awarded new patent protections, allowing our novel SkinGun(TM) to now spray all varieties of tissues and cells, thus opening the door for its potential application in the regeneration of tissues and organs, beyond skin.
“Just as we’ve used needles to inject drugs and vaccines in the 20 [th] century, the syringe of tomorrow could be our patented SkinGun(TM), spraying a gentle healing mist of self-donated stem cells to regenerate human organs and tissue,” stated Dr. Ben Walthall, former Johnson & Johnson R&D Worldwide Director of Surgical Wound Care and Tissue Regeneration, and currently RenovaCare VP, Regenerative Technologies.
Our highest priority in 2020 will be to advance the SkinGun(TM) through our regulatory program so we can obtain approval for conducting clinical trials, initially for establishing the safety of our device. While there are no guarantees of obtaining regulatory consent for our clinical trials, our confidence is strengthened by peer-reviewed publications and by the compelling visual outcomes of the more than 70 burn patients (see pictures below) experimentally treated with an early version of the technology underlying the SkinGun(TM). Our goal is to bring our therapy to the tens of millions worldwide who suffer from burns, chronic and acute wounds, and scars, an estimated $45 billion market in the U.S. alone.
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Currently trading at a $214 million market valuation RCAR is fully funded moving foward thanks to the recent $15.5 million Investment from the Company’s CEO Mr. Harmel S. Rayat. 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. We will be updating on RCAR when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with RCAR.
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Disclosure: we hold no position in RCAR either long or short and we have not been compensated for this article.