Bioelectronics Corp (OTCMKTS:BIEL) has received over-the-counter application market approval from the U.S. FDA for ActiPatch®. This nod is received for the adjunctive cure of musculoskeletal pain linked to osteoarthritis of the knee and plantar fasciitis of the heel.
Bioelectronics is an electroceutical firm that advances wearable, neuromodulation devices to carefully mitigate neurological diseases and enhance quality of life. The unique PSWT that utilizes low power pulsed electromagnetic areas adjust electrical movement of the nervous system. The neuromodulation base of PSWT shows considerable opportunities for Bioelectronics to advance optimized technology for chronic wounds, postoperative surgery, diabetic neuropathy, and other applications.
The prevailing OTC product line comprises ActiPatch®, Allay®, Smart Insole™, and RecoveryRx® therapy. Bioelectronics reported that the U.S. FDA approval is for their flagship offering the ActiPatch®, advanced to relieve chronic pain. It comes in the list of drug-free, wearable nonprescription medicinal device that offers 720-hours of on/off therapy for $30 retail. Most customers get relief with just 8 hours per day of application, so the device will usually last numerous months, depending on use.
Bioelectronics reported that ActiPatch is extremely effective and boasts impressive efficacy. There are no adverse side effects linked to its treatment. There is a 50% decline in medicinal application, including opioids. It has noted exceptional consumer acceptance and also shown marketability. It is an alternative or adjunctive treatment to pain killers, including narcotics.
Throughout the January, Bioelectronics traded around $0.0003 per share. On February 2, volume spiked and PPS followed. By last trading session, Bioelectronics went for $0.00225 a share, which marks over 400% gain in a matter of few trading weeks. At this price, the stock still trades for a market capitalization of around $39 million. In the last trading session, the stock surged 25% to close the day at $0.00225.