Earlier today, Nutra Pharma Corporation (OTCQB: NPHC), the company behind innovative pharmaceutical products such as Nyloxin® and Pet Pain-Away, released a letter to shareholders. In the letter, Rik J. Deitsch, the company’s chief executive officer, gave investors a brief overview of Nutra Pharma’s progress during 2015, as well as its goals and expectations for the coming months.
“We have had a very busy year at Nutra Pharma,” Deitsch explained in the news release. “2015 has been an inflection year for the company, launching our first new product in over two years (Pet Pain-Away), allowing us to begin to get back into clinical research on our lead drug candidates and bringing our drug platform into focus with the granting of orphan designation for RPI-78M for the treatment of pediatric multiple sclerosis.”
Among the most exciting news for Nutra Pharma’s prospective investors was the company’s progress with its therapeutic drug pipeline. In September, the company received orphan status for drug candidate RPI-78M for the treatment of pediatric multiple sclerosis, an indication with no approved treatments currently on the market. In addition to clearing the way for reduced costs and an accelerated development timeline, orphan designation provides Nutra Pharma with a seven-year period of market exclusivity in the U.S. following FDA approval. In an effort to maximize the benefits of this program, the company has also applied for orphan status for RPI-78M for the treatment of Myasthenia Gravis (MG). After receiving this status, Nutra Pharma expects to initiate clinical trials by the end of 2016.
In addition to its work on the drug development front, Nutra Pharma continues to make progress toward expanding its retail distribution network for its over-the-counter products. Sales from Nyloxin and Pet Pain-Away are expected to bring in additional revenue for the company that will be essential to the financing of proposed clinical studies. Nutra Pharma has already announced plans to begin distribution of Nyloxin in Canada in the coming months, and the company has also received acceptance from CPAM, the medical authority in China, to expand its distribution network into the Asian nation.
By reinitiating clinical work for its lead drug candidates, RPI-MN and RPI-78M, Nutra Pharma is once again progressing toward its goal of marketing or licensing its drugs for the treatment of multiple sclerosis and HIV/AIDS. As it aims to meet its true potential in the bio-pharmaceutical space, the company represents an intriguing option for investors in the coming months.
The shareholder letter is available on the company’s website at http://www.nutrapharma.com/Dec2015_shareholder_letter.pdf
For more information on the company, visit www.NutraPharma.com
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