Zhongchao Inc. (NASDAQ:ZCMD) continues to trade lower and trading weak in the opening session Friday.
Market Action
As of 10:31, ZCMD stock is trading down by 2.35% to $1.82. The stock has witnessed a total volume with 556K shares, compared to its average volume of 2.49 million. The stock has moved within a range of $1.8259 – 2.0000 after opening the trade at $1.98.
Zhongchao Inc. Launched New Line of Business Focusing on Tumor and Rare Disease Patient Management
- announced the launch of the patient management service focusing on the professional field of tumor and rare disease operated through its subsidiary Shanghai Zhongxin Medical Technology Co., Ltd. (“Zhongxin”).
- Zhongchao has been closely following up on the new study and research of tumor and rare disease both in China and worldwide. Based on the statistics provided by World Health Organization’s International Agency for Research on Cancer, there were approximately 19.29 million new cancer cases and 10 million cancer deaths globally in 2020. China had approximately 4.57 million new cancer cases in 2020, accounting for approximately 23.7% of the total cancer cases around the world.
- China’s National Health Commission indicated that there are approximately 20 million patients with rare disease in China. Medical treatment markets for both cancer and rare diseases have been expanding along with the increasing number of patients.
- The Company has realized that, in addition to drug development and more advanced medical treatment options, patients’ active engagements in the treatment is also critical to lead to better overall treatment outcomes such as higher chemotherapy completion rate, lower rehospitalization risk and longer survival time. Many multinational pharmaceutical companies have also realized such significance by conducting strategic investments in not only drug developments but also patient management projects.
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