HONG KONG, July 2, 2026, 22:14 (HKT)
- Regencell Bioscience Holdings Limited NASDAQ:RGC dropped 6.6% to $7.50 as of 9:53 a.m. EDT. Shares had reached $9.31 earlier in the session.
- The stock traded roughly 63% under the $20.30 price from the company’s registered-direct offering in May.
- The drop happened as broad biotech ETFs traded higher in early U.S. hours.
- Nasdaq will trade as usual on Thursday, then shut Friday, July 3 for Independence Day observed.
Regencell Bioscience Holdings Limited NASDAQ:RGC dropped Thursday morning after jumping on Wednesday. The move came as biotech funds traded higher. The stock is trading out of sync with the sector and is still well under the price from the company’s share sale six weeks back.
Regencell was trading at $7.50, down 6.6% from its last close, as of 9:53 a.m. EDT. The stock opened at $8.00, swung from $7.44 to $9.31, a 25.1% intraday range, with 282,403 shares trading. According to Investing.com, it finished July 1 at $8.03, up 31.86%, on 2.57 million shares. That was after closing June 30 at $6.09.
| July 2 morning trade | Latest price | Day move | Low-high range |
|---|---|---|---|
| Regencell Bioscience Holdings Limited NASDAQ:RGC | $7.50 | down 6.6% | range 25.1% |
| Invesco QQQ Trust NASDAQ:QQQ | $729.90 | up 0.7% | moved 1.6% |
| iShares Russell 2000 ETF (NYSEARCA:IWM) | $301.88 | gained 0.9% | range was 1.1% |
| iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) | $193.75 | added 1.9% | 2.0% range |
| SPDR S&P Biotech ETF (NYSEARCA:XBI) | $160.09 | rose 2.3% | range at 2.4% |
The comparison looks at quotes from 9:53 a.m. through 9:59 a.m. EDT. Percentage changes are based on the previous close.
The key number is the May deal. On May 22, Regencell said it closed a registered direct offering for 985,222 ordinary shares at $20.30 per share, pulling in about $20.0 million gross. A new large institutional investor put in $19 million as the lead, with Univest Securities as the only placement agent.
The stock traded at $7.50, down 63.1% from the sale price. The intraday high on Thursday of $9.31 still left shares 54.1% under that mark.
| Regencell measure | Figure | Investor read-through |
|---|---|---|
| Last trade vs May offering price | -63.1% | Anyone who bought in May is down big |
| Thursday intraday high vs offering price | -54.1% | Bounce didn’t clear the old offering price |
| Estimated equity value at $7.50 using 495.47 mln shares | $3.72 bln | Market cap is still high |
| Six-month net loss to Dec. 31, 2025 | $5.3 mln | The loss grew from $1.85 mln last year |
| Six-month R&D expense | $416,030 | R&D spend is low versus the valuation |
| CEO Yat-Gai Au beneficial ownership | 88.6% | CEO still has almost all control |
Google Finance listed 495.47 million Regencell shares outstanding. Regencell’s May filing reported a net loss of $5.3 million and R&D expenses of $416,030 for the six months ended Dec. 31, 2025. Google Its annual report said founder and CEO Yat-Gai Au had a beneficial stake of 88.6%.
Regencell is an early-stage company working in traditional Chinese medicine for ADHD and autism spectrum disorder. The annual report says the company does not have any approved products and has not made revenue from product sales.
The investor-relations press page for the company hadn’t posted a July release by Thursday. The most recent company release is still the May 19 registered-direct offering notice. Regencell Bioscience – So the past two days have just seen action in price and volume, with no new statement from the company.
Regencell said in its annual report it got a subpoena and correspondence from the U.S. Department of Justice after recent swings in its ordinary shares. The DOJ is investigating trading in the shares, the company said. Regencell said it is cooperating and expects ongoing legal and other costs with the probe.
The costs have already hit Regencell’s books. The company said general and administrative expenses jumped to $4.9 million for the six months ended Dec. 31, 2025, up from $1.5 million the previous year. Regencell said about $2.3 million of that increase came from higher professional fees tied to legal and other “investigation matters.”
Nasdaq lists its normal trading hours as 9:30 a.m. to 4:00 p.m. Eastern Time. Its exchange calendar has U.S. stock markets closed Friday, July 3, for Independence Day observed.
