Invo Bioscience Inc (OTCMKTS:IVOB) is again trashed into the red zone, following its unexplained rally last week. After grossing up nearly 30%, the stock of the medical device company shed most of its last week’s gains. The company is engaged into catering affordable solutions in the area of assisted reproductive technologies. The company’s lead product in the offering is its proprietary INVOCell device.
Opportunities and problems
INVOCell if succeeds in reporting efficacy in the sensitive medical branch, to which, it belongs, then their is no stopping for the company. The device will not only revolutionize the space nationwide, but will be a hit on a global platform. Still, it does not mean that Invo Bioscience Inc (OTCMKTS:IVOB) has no problems. In fact, the company has some alarming issues to take care first before it pursues the opportunities for INVOCell.
One of the most sensitive issues attached with Invo Bioscience Inc (OTCMKTS:IVOB) is its tendency of keeping business operations, and the results concealed. The company has managed to keep the results of its business operations unannounced for more than three years now. Resultantly, the company has been assigned a ‘Stop’ mark on its ticker on the OTC Markets.
Financial report not in sight
At the same time, the things are not as rosy for INVOCEll as it appears. The device has yet to get the Food and Drug Administration’s (FDA) nod in the U.S. As a result of which, the product is currently offered only outside the U.S. Invo Bioscience Inc (OTCMKTS:IVOB) has reassured that it will kick-start the full-fledged trial for the product as soon as it is financially viable to do so. But, with no clue on the company’s financial results at present might mean that the trial is not going to start anytime soon. This complication makes Invo Bioscience Inc (OTCMKTS:IVOB) unfit for investors at this point of time.
The stock of Invo Bioscience Inc (OTCMKTS:IVOB) plunged by nearly 22% to $0.470 during the previous trading session but recovered by 6.38% to $0.500 in after-hours. A total number of 161,428 shares traded on the day.