Regencell Bioscience Stock Jumps On Formation Of COVID-19 Treatment Focused Joint Venture

Regencell Bioscience Holdings Ltd's RGC subsidiary in Hong Kong has entered into a joint venture agreement with Honor Epic Enterprises Limited to offer COVID-19 related treatments.
The joint venture will cater to patients in ASEAN countries, India, Japan, Australia, and New Zealand. Regencell will own 60% of the JV with a customary drag-along option.
The principal business of the JV shall be to trade, manufacture, market, and distribute Traditional Chinese Medicine (TCM) formulae products.
TCM has so far treated 12 patients (suspected or confirmed COVID cases) after an average treatment period of 5 days, the Company said.
Price Action: RGC stock is up 2.31% at $32.37 during the market session on the last check Thursday.