This is How Shares of Organicell Reacted to Results of Initial COVID-19 Zofin Trial in India
A few weeks ago, Organicell Regenerative Medicine published some really big news. The clinical-stage biopharmaceutical company, which is dedicated to the development of regenerative therapies, has been testing its Zofin in India on Covid 19 patients, and the first 10 had positive reactions. CWI India is also a part of this trial.
Given that the first ten patients all recovered from their symptoms and have been discharged from the hospital they plan to expand the trial on additional six five patients with moderate to severe symptoms.
The treatments are expected to be completed by the end of June 2021, and if they continue to have positive results Organicell and CWI India, intend to file with the ICMR (Indian Council for Medical Research) for Emergency Use Approval to use Zofin in India as a therapeutic for treating COVID-19.
Zofin is obtained from perinatal sources. It is manufactured to preserve naturally occurring microRNAs, without adding any other substance or diluent. The therapeutic contains over 300 growth factors, cytokines, and chemokines, along with other extracellular vesicles/nanoparticles obtained from perinatal tissues. It is currently being evaluated in a Phase I/II randomised, double blinded, placebo trial.
Organicell is a clinical-stage biopharmaceutical company that focuses on the referral of cellular therapies for treating neurodegenerative, inflammatory and autoimmune conditions for patients across the world. Based in South Florida, the company was founded in 2008 by Albert Mitrani, Chief Executive Officer and Dr. Mari Mitrani, Chief Scientific Officer.
Since the trial yielded positive results, it should come as no surprise why doctors are so excited about using Zofin. This is especially important given the COVID-19 outbreak in India doesn’t seem to be subsiding. With over 350,000 new COVID infections and over 2,500 deaths per day, India holds the world record.
“The explosive spread of COVID-19 in India, and the lack of treatment that is available to help these millions of people is quite alarming and tragic. We are hopeful that Zofin™ can continue to help these patients, and we will do everything we can to expedite this process,” said Albert Mitrani, CEO of Organicell.
“We are very encouraged with the results shown by patients using Zofin and are hopeful that the remaining trial patients will show similar results. These trials could set the stage for a very quick Emergency Use Approval to be able to use Zofin for all of our patients,” added Dr. Matthew Roshan of CWI India.
How did the stock react?
As one can expect from a biotech company that just released positive results of their treatment, shares of Organicell absolutely exploded at the end of April. The stock went from about $0.05 per share to trade above the $0.60 per share just a day later.
Positive catalysts like this are exactly why some traders watch these penny stocks and closely monitor developments related to their companies as any positive event results in a sharp move higher.
Ultimately, the Organicell stock closed over 530% higher in April before rotating lower on profit-taking. The stock price action is now moving lower to trade near the $0.22 handle.