Regen BioPharma, Inc.

What they do

The company is developing a pipeline of cellular and gene-based therapies for aplastic anemia and cancer, including HemaXellerate (autologous stromal vascular fraction cells), dCellVax (dendritic cell therapy), tCellVax and DiffronC (siRNA targeting NR2F6), and DuraCar (CAR-T cells with shRNA). It also has a small molecule program targeting NR2F6. No clinical trials have commenced for any product candidate.

Revenue drivers

• License revenue from Zander Therapeutics, Inc. — Related-party revenue from a license agreement, contributing $110,001 in fiscal 2025 and $27,425 in the quarter ended March 31, 2026.
• Other revenue — Non-related-party revenue of $126,560 in fiscal 2025, consistent with the prior year.

Recent performance

For the fiscal year ended September 30, 2025, revenue was $236,561 (flat versus 2024), with a net loss of $1.27 million, an improvement from a $668,255 loss in 2024. Operating cash flow was -$383,591 in 2025, improved from -$751,536 in 2024. For the quarter ended March 31, 2026, revenue was $59,065 and net income was $991,927, driven by a $1.18 million derivative income gain, versus a net loss of $19,354 in the prior-year quarter. As of March 31, 2026, cash and equivalents were $271, total assets $260,194, and shareholder equity was negative $5.4 million.

Strategy

The company intends to develop its product candidates through Phase I and II trials, after which it may license or sell the applications or advance to Phase III. Primary focus is on regenerative medical applications, acquiring or licensing intellectual property. Management is also conducting pre-clinical testing of small molecules targeting NR2F6. The company has been financing operations through unregistered sales of equity and entering material agreements, including a recent change in accountants.

Risks

• Cash insufficiency — Cash on hand of $271 and negative shareholder equity of $5.4 million raise substantial doubt about the company's ability to continue as a going concern.
• No clinical progress — None of the product candidates have entered clinical trials, so there is no evidence of safety or efficacy, and FDA approval is uncertain.
• Dependence on license revenue — Revenue is largely reliant on a single related-party license agreement, which may not be sustained.
• Dilution risk — The company has repeatedly conducted unregistered equity sales, which have diluted existing shareholders.

Outlook

Management has not provided specific forward-looking guidance. The company expects to continue financing operations through equity and other arrangements, but faces ongoing losses and cash constraints. The ability to continue as a going concern is uncertain.