Business
RenovaCare Comments on Recent Market Activity
RenovaCare Comments on Recent Market Activity.
About this update from Renovacare, Inc.
[{"type":"text","content":"\n \n RenovaCare, Inc. (“RenovaCare” or the “Company”) (OTCQB:RCAR), developer \n of the SkinGun™ and CellMist™ System for isolating and spraying a \n patient’s own stem cells onto burns and wounds for rapid self-healing, \n today announced that on January 3rd, 2018, OTC Markets Group \n Inc. (“OTC Markets”) informed the Company that OTC Markets had become \n aware of promotional activities concerning the Company.\n \n \n OTC Markets provided an example, dated January 2nd, 2018, of \n the promotional material for reference. It is the Company’s \n understanding that the material provided was part of an annual \n predictions report used in part to generate new subscribers for various \n newsletters owned by StreetAuthority LLC, an independent publisher \n founded in 2001. The Company had no editorial control over the content \n and was one of thirteen companies independently selected, researched and \n mentioned. The annual predictions report was disseminated during the \n last quarter of 2017. During this time, 2,190,000 shares traded, only 2% \n more than the average quarterly volume of 2,139,375 shares during all of \n 2017.\n \n \n Subsequently, later in the 4th quarter, a material \n announcement regarding a failed challenge to a RenovaCare patent was \n made public. On December 20th, 2017, a press release was \n issued by Avita Medical Limited disclosing that its petition for an \n Inter Partes Review with the Patent Trial and Appeal Board (“PTAB”) to \n invalidate all claims in U.S. Patent No. 9,610,430 (owned by the \n Company) was denied. This press release was followed by an article in \n Stockhead on December 21st, 2017, which more fully reported \n on the PTAB denying Avita Medical Limited’s petition, and, thereby, \n upholding the patentability of RenovaCare’s technology.\n \n \n After the issuance of Avita Medical’s press release and the follow-up \n article in Stockhead on December 21st, 2017, the trading \n volume of the Company’s common stock increased 84% to 62,829 shares per \n day between December 20th and December 29th, \n versus 32,720 per day previously between December 1st through \n December 19th, 2017.\n \n \n The Company is not affiliated in any way with the authors of the annual \n predictions report or its p...