The Regen Biopharma (OTCMKTS:RGBP) stock seems to have come into favor among many investors this week. Over the course of the past week, the Regen stock has been in the middle of a strong rally and has managed to clock gains of as much as 30%.
In light of such handsome gains, it is perhaps time for investors to take a closer look at the company and particularly at some of the recent developments. Yesterday the company released information with regards to the discussion about Regen Biopharma’s financial situation. The company revealed as of September 30, 2020, it had a cash balance of $0 but at the same time in 2019, its cash balance stood at $7885. The reduction in the cash balance was primarily down to the expenses incurred towards funding the operations of Regen.
In this regard, the company also revealed that it had an account receivable-related party to the tune of $71,186 as of September 30, 2019. On the other hand, the same figure on September 30, 2020, came in at $103192. On the other hand, it is also important to point out that the rise was also fuelled by the fact that the company got anniversary fees as well as royalties to the tune of $27424 from Zander at the end of each quarter.
Hence, it is clear to see that situation at the company may be improving and that might be one of the reasons behind the rally in the stock over the past week.