BioCorRx Inc (OTCMKTS:BICX) has emerged as significant operator in the space related to the development of new age treatment regiments for substance abuse.
Market Action
On Monday, BICX stock ended higher by 0.21% at $4.76 with more than 1.9K shares, compared to its average volume of 2.3k shares. The stock has moved within a range of $4.7600 – 5.2500 after opening trade at $4.77.
BioCorRx Acquires Intellectual Property for Drug Delivery
Yesterday, the company was in the news after it announced that it had been successful in the acquisition of a patent application that had been put in by Calista Therapeutics. While it is true that the acquisition of a patent application is generally seen as a positive for innovative company, the market did not react well to the news. The BioCorRx stock did not make any recovery and remains down by as much as 6% over the past week.
In this situation, it might be a good idea to take a closer look at the patent. The patent in question had been filed by Calista in relation to solid implant formulation meant for delivering medicines. The application had been sent in to the United States Patent and Trademark Office as well.
The acquisition of the patent could be an important one since it is in line with the current intellectual property portfolio that is owned by BioCorRx. It is going to be interesting to see if the stock can actually make a recover over the rest of the week.
Key Quote
Lourdes Felix, CEO, CFO and Director of BioCorRx Inc., stated, “We are excited to add this new application to our portfolio which may improve certain aspects of solid implant drug delivery. We believe this IP adds value to our portfolio and we plan to explore its uses with our current formulations as well as with others in the implantable drug delivery space.”
Traders Note
BICX stock is trading above the 20-Day and 50-Day Moving averages of $4.68 and $4.24. Moreover, the stock is trading above the 200-Day moving average of $3.64. The stock is up 27% over the past month.
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