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Im confident i mde the right call to sell near the top. Id say judging by the circumstances and share price, and how i ruffled feathers 2 years ago by noy gulping the fool-aid i 100% applied critical thinking and profited.
You are wrong about deitsch wanting to go to court.
I want all the shorts out there trying to scare people into selling their nphc shares to keep shorting.
I want the true believers to keep buying and donating money to Deitsch.
Plus there are Billions of shares available - you just keep buying.
I hope new investors don't touch this dog. But those that have believed in Deitsch for many years - load up. Call Deitsch and do a private placement.
IG
The SEC is always willing to go to Court But the Defendant usually tries to settle - the settlement will be Deitsch being banned from any securities work for 5 years.
I know that Deitsch doesn't want to go to Court.
IG
I’m very confident that there will be a settlement. At this point I think neither party wants to go to court.
That's so true, none of us are worried. We just don't have a need to post it every couple hours.
I'm not worried one bit. Only a short would be worried.
NPHC has been around for 20+ years with Deitsch as the CEO and has never had a profitable quarter - Deitsch could easily be forced into bankruptcy and that gets ugly for investors.
Deitsch should be in prison.
IG
The accumulated deficit is from the inception of more losses than profits.
From the last 10-Q: "Our Unaudited Condensed Consolidated Financial Statements are presented on a going concern basis, which contemplate the realization of assets and satisfaction of liabilities in the normal course of business. We have experienced recurring, significant losses from operations, and have an accumulated deficit of $77,361,327 at June 30, 2022. In addition, we have a significant amount of indebtedness in default, a working capital deficit of $16,235,055 and a stockholders’ deficit of $16,197,236 at June 30, 2022."
I guess you are ignoring the debt in default.
Deitsch has been a dismal failure as the CEO of NPHC.
IG
https://www.pacermonitor.com/public/case/25779230/Securities_and_Exchange_Commission_v_Nutra_Pharma_Corporation_et_al
Granted in part and dismissed in part.
SEC put on a CE?
Interesting
Whats with the NPHC Volume today? Oh thats right, with all the lawsuits and lack of transparecy the SEC put on a CE over a year ago. Browsing the possible reasons and they sure make sense.
Yes you did. Also said the contract wasn't real. But it turned out the nphc auditing contract was real.
I never said they didnt hire an auditor. That fishy blacked out "contract" is what revealed how shady nutra was. 100% proves i was right seeing where they are today lol
Mark it where you said the ce would come off in a month. Or where you said nphc wouldn't get current. Or where you said nphc didn't hire an auditor cause you couldn't see the blacked out amounts.
Mark it like where you said CE off within a week??
Not a chance nphc goes to gray market. They filed their 10q. They dont have any outstanding financial filings. just absurd to even think that they would go to gray. mark this post.
I could care less if its delisted, but you are correct i suppose. I should have said it's going to the gray market and will proceed to stay flat. HP*IL, HYI*I, GAR*B will give you some insight on whats in store for NPHC. Mark this post for reference
Why would anyone care about delisting? The bears on this board that take so much time to warn us and call us idiots serve no purpose. Please tell me everyone understands the risks of this company! The upside potential is also there!
Delisting Not gonna happen no matter how hard you want it.
Debt in default..... deficit not profit..... and riks time frame not mine... delsiting soon coming to you
an accumulated deficit is not a current amount owed. most of the deficit comes from everything the company has accomplished and through issued stock throughout the existence of the company. NPHC said they are working with the military and ms trials in tweets and prs. You don't have any proof they are not. Because it doesn't happen in your time frame doesn't mean it's not happening.
Uh huh....... because they are so transparent? Because they are in default on debt? Going thru a lawsuit? $77+ million deficit? Hired more people to make DTRA "aware" after the last year september deadline rik set on having an answer? Because the ms trials were funded and starting by end of 2021??? Come on, im waiting for tje copy and pasted what rik has "accomplised" in the last 2p years all while forgetting this is a toxic "comapny" thats still in trips on the pink sheets after those 20 years...
Right, how else would Rik cover his lifestyle other than sucking this company dry. I do think he is going to get nipped on the loan-conversion-to-toxic-shares bit but that will take a while so carry on
I'd bet that nphc is going to be around for a long time.
I'd bet on nphc not being around by 2024.
Don't bet on it. That would be a losing bet. Nphc isn't getting delisted. Just absurd to they would be.
Writings on the wall, getting delisted soon.
Just "loan" Rik some money and when he defaults take compensation in low priced toxic shares. That seems to be how most are doing it. Lots of loans for lemonade stand revenues
Its been expressed many many times that T Rowe Price allowed trades with the CE, that is up until a few days ago. There was zero buying pressure at these "bargain" prices. For one to say its too much of an inconvience to open a new account and be able to accumalate, and to wait for CE to come off to buy just goes to show there are no serious buyers. If a buyer truly believed in this and believed it to be under valued, they would take 20 mins to set up an account for the opportunity of "life changing money". None did tho.
Well that has 100% proven to be a mistake lol. I know for a fact i asked some hard questions going on 2 years ago and was treated with "disdain". Im happy to have been a free thinker and saw thing werent adding up. CE not coming off.
Yep, and that didn't work out worth a damn.
And by the way, there are plenty of buyers, they’re just not allowed to buy.
Wait for the CE to come off…
We also held when there were buyers.
Ya'll holding cause there are no buyers
Me also!
Again, that tiny amount of revenue is a drop in the bucket compared to the ongoing losses..... deficit, default debt..... yeah a real winner here. But hey, every company has financials like this eh??
An accumulated deficit occurs when a company has incurred more losses than profits since inception.
On the balance sheet, a company’s retained earnings line item — the cumulative earnings carried over and not distributed to shareholders as dividends — serves virtually the same purpose as the accumulated deficit.
Hence, the term “accumulated deficit” can be used interchangeably with “retained loss.”
But for purposes of financial reporting, companies with a negative retained earnings balance will often opt to report it as an accumulated deficit.
Cough cough..... In addition, we have a significant amount of indebtedness in default.... yup, i must have the meaning of deficit backwards, as well as default...
Obviously, you are confused with the financial term accumulated deficit. NPHC doesn't owe anyone $77 million.
So your telling me all non postivie cash flow companies say they have a $77,000,000 deficit? Have loans in default too?? Hmm. I could be wrong but i think you are confused??
Ontop of that, company going on 20 years old and STILL not profitable, i can see why you thought last year was the year and this year is as well (wink wink)
This is what every company that isn't cash flow positive discloses. it's a standard statement.
Deficit- the amount by which something, especially a sum of money, is too small.
Over 77 million too small. Gonna take alot of revenue to make that up...... 55k on equiptment. Defitnaley bought second hand and on a small scale, no DTRA acceptance with that pocket change.
Yet these numbers are getting larger....
accumulated deficit of $77,361,327 at June 30, 2022. In addition, we have a significant amount of indebtedness in default, a working capital deficit of $16,235,055 and a stockholders’ deficit of $16,197,236 at June 30, 2022
CE and T Rowe Price resticed them to sales only. Yup, totally on the right path ehh?
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Nutra Pharma Corp. (OTC: NPHC) is a biopharmaceutical company engaged in the acquisition, licensing and marketing of homeopathic treatments and ethical drugs for the management of pain, neurological disorders, cancer, auto-immune and infectious diseases. Nutra Pharma, through its RectoPharm subsidiary, carries out basic drug discovery research and clinical development and also seeks strategic licensing partnerships to reduce the risks associated with the drug development process ReceptoPharm is developing technologies for the production of drugs for HIV and multiple sclerosis (MS), and also offers small and start-up biotech companies a full range of contract research services.
Investment Highlights
Corporate Strategy
Nutra Pharma's over-the-counter (OTC) products allow the company to achieve profitability and fund longer-term clinical trials in the therapeutic area. The therapeutics address a market size of > $10 billion, while the OTC products segment addresses a market size of $200 million - $500 million.
Reducing Risk
Nutra Pharma's strategy aims to optimize risk and return. At present, the company has a line of OTC products that bring in cash. This revenue will not only help fund development of the company's therapeutic line but, since sales of the OTC line and therapeutic line are uncorrelated, will result in a smoother revenue stream. By having what is, essentially, two businesses under one roof, Nutra Pharma mitigates risk to shareholders.
Revenue in the Short-term from OTC products
The OTC line comprises a number of analgesics. In October 2009, Nutra Pharma launched its first, called Cobroxin®, an over-the-counter pain reliever designed to treat moderate to severe chronic pain. In May 2010, the company launched its second consumer product, called Nyloxin®, an over-the-counter pain reliever that is a stronger version of Cobroxin.® And in December 2014, it launched Pet Pain-Away, an over-the-counter pain reliever designed to treat pain in cats and dogs. Nyloxin is currently being distributed both domestically and internationally via network marketing through the nationwide distributor Lumaxa.
Maximizing Return with a High-Value Therapeutic Line
Through its wholly owned subsidiary, ReceptoPharm, Inc., Nutra Pharma conducts drug discovery research and development activities. Nutra Pharma's R&D pipeline consists of several novel therapies in various stages of development to prevent and or treat multiple sclerosis (MS), human immunodeficiency virus (HIV), adrenomyeloneuropathy (AMN), herpes, and rheumatoid arthritis (RA). And the company is pursuing, aggressively, regulatory approval for these treatments.
Nyloxin
Nyloxin is an anti-inflammatory, non-toxic, non-narcotic, non-addictive, non-steroidal analgesic designed for chronic pain relief. It was first launched as an oral spray for treating back pain, neck pain, headaches, joint pain, migraines, and neuralgia, and as a topical gel for treating joint pain, arthritis pain and pain from repetitive stress.
Since the beginning of 2014, it has been moved by the over 3,000 distributors in the Lumaxa network. Nutra Pharma is approved to distribute Nyloxin in India and is currently negotiating with large distributors throughout the region. Nutra Pharma is also working with several potential distributors in China and expects orders in India and China in the near future.
Nyloxin is clinically proven to treat Stage 2 (moderate to severe) and Stage 3 (severe) chronic pain. It is safe, non-narcotic and non-addictive, and does not impair cognitive function. Nyloxin is available in three strengths and 12 SKUs. In Regular Strength, Nyloxin is offered as an oral spray, a topical roll-on, and a topical gel. These same three preparations are offered in Extra Strength. The company also plans a 'Military Strength' Nyloxin for U.S. government buyers and military personnel.
Nyloxin Advantage
Jeff Gottfurcht is the first person in the world with rheumatoid arthritis to scale Mount Everest. Jeff reached the summit on May 14, 2011. He took Nyloxin with him as his pain reliever of choice.
Testimonials
Nyloxin Topical Gel I'm a massage therapist I have incorporated Nyloxin into my pain therapies with unbelievable results. I believe in this product so much that I became a distributor just so my clients can live pain free. - Steve Smith | |
Nyloxin Extra Strength Topical Gel I have never written a testimonial before. I have to tell you I am completely amazed at how well this product has worked for me. I have been on hydrocodone for years. Four days after taking this I have not needed it. I truly am shocked at the difference this has made in my pain. I have already reordered! - Elyse Feldberg | |
Nyloxin Oral Spray I am amazed at how well the Nyloxin spray has worked for me. I have had headaches for years, which sometimes turn to migrains. I have done biofeedback, been in the medical care of neurologists, and gone through testings, nothing I have tried has ever gotten rid of my headaches for any length of time, until I tried the Nyloxin spray. I even went to the mountains last weekend at 6,000 feet, for 3 days without a headache the whole time, I don't remember that ever happening. I am sold on this product. - Nancy Leamons |
*Some of the testimonials listed here may be from MyNyloxin Independent Entrepreneurs who may receive compensation which is received based on the sale of Nyloxin products."
Pet Pain-Away
Pets Owned in the U.S.: 95.6 million cats, 83.3 million dogs
The market for pain relief in dogs and cats is more than $200 million.
Millions of pets suffer from acute or chronic pain. While acute pain is a normal sensation triggered in the nervous system to alert your pet of possible injury and the need to take it easy, chronic pain is different, chronic pain persists. Pain signals keep firing in the nervous system for weeks, months, even years.
Historically, pain relief products for pets have been shown to cause other significant healthcare concerns and side effects.
Today, cobra venom is successfully being used for treating various forms of pain, autoimmune and neurological disorders. The Nutra Pharma subsidiary, ReceptoPharm, and other researchers have definitively proven that extracts from cobra venom contain constituents that control pain and inflammation in animals.
Pet Pain Away provides all-natural anti-inflammatory analgesic pain relief that is non-toxic, non-narcotic, non-steroidal and contains no aspirin or acetaminophen. Safe to use on pets, it treats conditions that cause chronic pain in animals.
Current Medical Research of the Available Remedies
Current pain relief products for pets such as NSAIDs (just for dogs) such as Carprofen (Novox or Rimadyl), Deracoxib (Deramaxx), Etodolac (Etogesic), Firocoxib (Previcox), Meloxicam (Metacam ) or Tepoxalin ( Zubrin) have been shown to cause kidney, liver, or digestive problems. Cats do not tolerate NSAIDs of any kind well. The only approved NSAID for cats in the United States is meloxicam and it is only approved for a single post-surgical injection to relieve pain. The dose must be exactly correct for the cat's weight. If it is given longer to cats, it often causes severe kidney damage.
Other medications such as Amantadine, Gabapentin and Tramadol may cause upset stomach, decreased heart rate, panting, and constipation. Veterinarians may prescribe stronger opiates only for a short periods. They usually don't prescribe steroids for pain, as they can have serious side effects. Veterinarians are usually hesitant to utilize pain therapies in companion animals because of the following: significant side effects, including nausea, vomiting, drowsiness, itching, constipation and respiratory depression; buildup of tolerance to analgesic requiring higher dosage over time to experience same effect; addictive properties that include severe withdrawal symptoms.
Therapeutic Pipeline
ReceptoPharm's research and development pipeline consists of several novel therapies in various stages of development to prevent and or treat multiple sclerosis (MS), human immunodeficiency virus (HIV), adrenomyeloneuropathy (AMN), herpes, rheumatoid arthritis (RA) and pain.
Abbreviations
Phase 1 (P-I), Phase 2 (P-II), Phase 3 (P-III)
RPI-78M
RPI-78M is derived from alpha-cobratoxin (α-CTX) by an oxidative procedure. Alpha-cobratoxin is the primary neuroactive peptide found in the venom of Asiatic cobras, and it represents the single active ingredient in the formulation under investigation. RPI-78M compares favorably with competing products. It lacks measurable toxicity, but is still capable of attaching to and affecting the target site on the cells. This means that patients cannot overdose.
Following years of investigations in humans and animals, it has displayed no serious adverse side effects. Patients experience symptomatic improvements, usually within six months of therapy. RPI-78M is extremely stable and resistant to heat, and so has a long shelf life. The drug's stability has been determined to be over four years at room temperature. It is easy to administer as a daily intramuscular injection (mcg dosing). RPI-78M has completed two trials for its use to treat adrenomyeloneuropathy (AMN). And at present, there are about 300 multiple sclerosis patients on open-label trials with RPI-78M.
RPI-MN
Nutra Pharma has received Orphan Drug Status from the FDA for RPI-78M as a candidate for the treatment of juvenile MS. Nutra Pharma is actively seeking collaborative research partners for early stage trials of RPI-78M in the treatment of juvenile multiple sclerosis (MS). The company has already been in contact with potential researchers, hospitals and sites of care for the purpose of moving forward with phase I/II clinical studies.
Nutra Pharma believes that RPI-78M provides an entirely new approach to the treatment of auto-immune diseases, including MS. As an immuno-modulating agent and not an immunosuppressive, RPI-78M could be a disruptive new drug entity in the autoimmune disease space. In previous open-label studies, RPI-78M has shown consistent symptomatic improvements within a period of less than six months in all stages of MS. The recently received Orphan Drug designation from the FDA allows the company to fast-track efforts through the clinical process. Based on existing clinical experience with RPI-78M, Nutra Pharma is confident that it can receive accelerated approval in a relatively short time-frame (expected in as little as 22-26 months).
RPI-78
Market Opportunity
According to the Centers for Disease Control and Prevention (CDC), there are currently about 1.2 million persons in the United States over the age of 13 who are human immunodeficiency virus (HIV) infected. Over the past 10 years the number of people living with HIV has increased. The incidence of new HIV infections has remained fairly stable, however, at about 50,000 new cases every year. As yet there is no cure for HIV: no compound has been isolated that kills the pathogen. But antiretroviral therapies (ART) can reduce the ability of the virus to reproduce and so keep infection at a level that does not overwhelm the immune system. The World Health Organization (WHO) estimates that, currently, there are about 37 million people worldwide living with HIV. The market size of antiretroviral therapies is estimated to be around $15 billion.
Like HIV, multiple sclerosis (MS) occurs when the immune system malfunctions. MS develops when the immune system attacks the protective sheath (myelin) that covers nerve fibers and causes communication problems between the brain and the rest of the body. The National Multiple Sclerosis Society estimates that about 2.3 million people are affected by MS worldwide. The market size of the MS drug market is about $16.7 billion. Adrenoleukodystrophy (AMN), also known as Schilder's disease and sudanophilic leukodystrophy, is another condition in which the myelin sheath is damaged. The AMN market has the potential to reach $400 million after the launch of an effective treatment. The Herpes Simplex Virus (HSV) affects thousands. According to the CDC, in 2013, some 306,000 persons visited a doctor for the first time in connection with a herpes condition. And the CDC also reports that, in 2007, about 1.5 million people in the U.S. were living with rheumatoid arthritis.
Management
Nutra Pharma is led by a management team comprised of highly experienced and educated professionals with a strong track record of excellence. This leadership is well-equipped to advance Nutra Pharma's therapeutic pipeline and increases distribution of its OTC products internationally.
Rik J. Deitsch - Chairman and Chief Executive Officer
Rik Deitsch holds both a B.S. in chemistry and an M.S. in biochemistry, and has conducted clinical and laboratory research in collaboration with scientists at Duke University Medical Center and the Cleveland Clinic. Deitsch is the author of two books and is an adjunct professor, teaching several courses for Florida Atlantic University's College of Business and Continuing Education Department.
Stewart Lonky, MD MBA - Director - Audit & Compensation Committees
Stewart Lonky is board certified in internal medicine, pulmonary and critical care medicine. He has published over a dozen articles in the peer-reviewed literature. Stewart is the former chief medical officer of a medical device company that developed diagnostic products for the early diagnosis of cervical and oral cancer. In that role, his duties included the direction of clinical research and the ultimate clearance of three new diagnostic devices by the U.S. Food and Drug Administration (FDA).
Harold H. Rump - Director
Harold Rump holds a B.S. from the United States Naval Academy. He is the former president, and director of Biogenix, Inc., a company involved with research and development of antiviral peptides from cobra venoms, including clinical trials under FDA-issued Investigational New Drug applications.
Garry R. Pottruck, CPA - Director - Chairman, Audit & Compensation Committees
Garry Pottruck is a CPA and financial expert on the NPHC's board of directors. Previously he served as chief accounting officer/controller at Scopas Technology Company, Inc., a NASDAQ-listed, development stage biotechnology research and development organization. He was, also, a principal and manager in the firm Argy, Wiltse & Robinson, PC ("Argy"), headquartered in McLean, Virginia.
Nutra Pharma Corporation | QualityStocks Investor Relations |
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
Contact :
phone 954-509-0911
Email investor.relations@nutrapharm.com
12502 West Atlantic Bvld.
Coral Springs, FL 33071
Shares outstanding 442,185,921 as of May 23,2017.
Shares outstanding 1,233,519,298 as of July 20,2017.
http://www.otcmarkets.com/stock/NPHC/profile
Nutra Pharma Corp. (OTCBB: NPHC) http://www.NutraPharma.com is a biopharmaceutical company specializing in the acquisition, licensing and commercialization of pharmaceutical products and technologies for the management of neurological disorders, cancer, autoimmune and infectious diseases. |
ReceptoPharm is an innovative biopharmaceutical drug discovery company developing proprietary therapeutic protein products primarily for the prevention and treatment of viral, autoimmune and neurological diseases in humans, including Adrenomyeloneuropathy (AMN), Multiple Sclerosis (MS), Rheumatoid Arthritis (RA), Pain, and Myasthenia Gravis (MG), and Human Immunodeficiency Virus (HIV). Drug Development The emphasis of ReceptoPharm's approach to drug discovery and the development of new therapeutic agents is based upon specialized receptor-binding proteins found in nature. » Learn More CRO Services ReceptoPharm offers a full range of contract services catering to start-up and small biotechnology companies. These services include pre-production studies, contract manufacturing services, US & EU regulatory support, and quality systems/GMP certification. ReceptoPharm is a wholly owned subsidiary of Nutra Pharma Corporation. |
Designer Diagnostics is a biotechnology sales and marketing company founded for the sale of diagnostics testkits for infectious diseases. Designer Diagnostics Test Kits provide a highly cost effective, highly efficient, low infrastructure solution for identifying and testing sensitivity of Nontuberculous Mycobacteria (NTM) that are capable of utilizing paraffin wax as a sole carbon source or those that are hydrophobic. Additionally Designer Diagnostics provides an efficient solution for the rapid identification and sensitivity testing of Tuberculosis (TB). Designer Diagnostics is a wholly owned subsidiary of Nutra Pharma Corporation. |
Cobroxin/Nyloxin TV Commercials and Advertising |
Here is a YouTube clip from 2013 showing the product: |
Nutra Pharma (NPHC.OB) RECENT NEWS | |||||
SOURCE: Nutra Pharma Corporation
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ADDITIONAL NUTRA PHARMA INFORMATION |
12/10/09 Webinar from Rik J Deitsch, Chairman and CEO of Nutra Pharma Corporation:http://a40.video2.blip.tv/5350002509400/Vpoole-NHPCPresentationByCEO594.wmv?bri=11.6&brs=126 |
CHECK OUT THE Nutra Pharma Blog FOR MORE INFO ON THE WORLD MONEYSHOW CONFERENCE! |
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Nutra Pharma (NPHC.OB) PATENTS |
U.S. Patent No. 5,989,857, which was granted in November 1999 with 10 claims.U.S. Patent No. 6,670,148, which was granted in December 2003, with 9 claims. The patent further describes the method for preparing a bioactive peptide (protein) found in cobra venom, in a stable, inactivated form, by treating the peptide with ozone.Buccal Delivery System, on which a patent is pending. This application describes a throat spray that permits efficient delivery of the modified peptide drugs to the body through oral mucosa.Technology contained in one pending U.S. patent application for the further development of bioactive peptides in cobra venom for use in the treatment of HIV and MS.Technology contained in two pending U.S. patent applications for Immunokine Composition and Method, which describes a method for developing modified peptides from alpha-cobratoxin.Technology contained in two patents pending for the topical delivery of our proprietary wound healing treatment, which was developed in conjunction with Bio Therapeutics. One of these products is in the form of an ointment style skin protectant and the other a foaming aerosol. |
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During our second quarter of 2015 and thereafter, the following has occurred:
On April 15, 2015 we provided an update regarding plans to market Nyloxin® through S.Zhaveri Pharmakem for distribution throughout India. The update stated that our management had been working in Mumbai throughout the week to finalize plans for the national rollout of Nyloxin®.
On April 20, 2015, our stockholders voted at a special meeting of the shareholders held in Coral Springs, Florida to approve a one-for-forty reverse stock split of our issued and outstanding shares of common stock. Under the adopted proposal, each forty shares of our presently issued and outstanding Common Stock as of the close of business on the effective date was converted automatically into one share of our post-Reverse Split Common Stock. Fractional shares and "odd lots" were rounded up to the nearest whole share. The Reverse Split did not change the number of authorized shares of our Common Stock. The principal effect of the Reverse Split was the reduction in the number of shares of Common Stock issued and outstanding, from 1,510,950,321 shares as of March 6, 2015 to 39,123,758 shares after the Reverse Split was deemed effective. The Reverse Split affected all of our shareholders uniformly and did not affect any shareholder’s percentage ownership interest in Nutra or any shareholder’s proportionate voting power. Per share and weighted average amounts have been retroactively restated in the accompanying financial statements and related notes to reflect this stock split.
On April 22, 2015 we announced that we had engaged the Vancouver Commodities Group (VCG) to begin the process of identifying and vetting potential distributors in China for Nyloxin®.
On April 30, 2015 we announced that we had received notification of the acceptance of Nyloxin® by the China International Exchange and Promotive Association for Medical and Healthcare (CPAM). This process was successfully conducted by the Vancouver Commodities Group (VCG) that had been hired by Nutra Pharma to begin the process of identifying and vetting potential distributors in China.
On May 14, 2015 we announced that we had engaged the Nature's Clinic to begin the process of regulatory approval of our Company's Over-the-Counter pain drug, Nyloxin® for marketing and distribution in Canada. The Nature’s Clinic has already begun setting up their Chatham, Ontario warehouse and expect to complete the approval process to begin distributing Nyloxin® by the end of the year.
On May 26, 2015 we announced that we had engaged Medical Strategy Consultants, LLC to aid the company in the filing of Orphan Drug applications with the U.S. Food and Drug Administration ("FDA"). The first application under development is for the treatment of Pediatric Multiple Sclerosis with the Company's lead drug candidate, RPI-78M. In order to create the application, RPI-78M needed to meet several key criteria. This included preclinical data in support of the drug that provided a reasonable rationale for the treatment of the disease based on its potential ability to treat the symptoms of multiple sclerosis. The FDA grants Orphan Drug Designation status to products that treat rare diseases, providing incentives to sponsors developing drugs or biologics. The Orphan Drug Act of 1983 is intended to assist and encourage companies to develop safe and effective therapies for the treatment of rare diseases and disorders, defined as those affecting fewer than 200,000 Americans at any given time. The designation of RPI-78M as an Orphan Drug would provide Nutra Pharma with a 7-year period of market exclusivity in the U.S. upon approval of the drug, as well as tax credits for clinical research costs, the ability to apply for grant funding, clinical trial design assistance, assistance from the FDA in the drug development process and the waiver of Prescription Drug User Fee Act (PDUFA) filing fees which could be in excess of $2.5 million. The decision to proceed with an Orphan Drug Designation submission is part of Nutra Pharma's plan to move forward with the preparation of an Investigative New Drug Application.
On June 9, 2015 we announced that we had entered into a facility and personnel sharing agreement with Nationwide Laboratory Services, Inc. (NLS): Nationwide Laboratory Services, Inc. operates as a clinical diagnostics laboratory, performing routine and specialty human diagnostics. The company also offers clinical trial services, such as specimen and special handling requirements, status of test results, turnaround time, testing, participants test results, channeling calls to technical or professional personnel, communicating specimen issues, notifying investigational site of critical calls, and telephone support with data management training services; and courier tracking services. The collaboration provides NLS with the use of our lab space and equipment and provides us with lab and clinical personnel as well as cost-savings on rent and utilities.
On June 23, 2015 we announced that we had completed a series of projects to update and expand the facilities that house the Asian cobras utilized for the production of Nyloxin®. We also announced the addition of 100 snakes to the existing milking line to increase venom production for the upcoming international orders from India and China.
On June 30, 2015 we announced that we had engaged Pickwick Capital Partners; a leading investment banking, securities and investment management firm, to provide strategic corporate planning and investment banking services. Pickwick will focus on assisting Nutra Pharma in our strategies for maximizing shareholder value through its full scope of investment banking services.
On July 10, 2015, SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, announced it has initiated coverage of Nutra Pharma Corporation with a Price Target of $0.53 per share.
On July 15, 2015 we announced that we had filed an application with the FDA for orphan drug status of the Company's RPI-78M drug candidate for the treatment of Multiple Sclerosis in children. This represents the first such filing for the company.
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