The medical tech space has garnered considerable attention from investors in recent times but on Wednesday, the medical technology firm Sigyn Therapeutics Inc (OTCMKTS:SIGY) did not have a particularly great time in the markets.
Market Action
On Wednesday, SIGY stock jumped 2% to $0.52 with 100 shares, compared to its average volume of 920 shares. The stock has moved within a range of $0.5200 – 0.5200 after opening trade at $0.52.
Successful Completion of a Study to Address Gram-Positive Bacterial Toxins Associated with Sepsis
Over the course of the past week, the stock has suffered from a strong selloff and gone down by as much as 18% as a consequence. In light of such a decline, it may be a good time for investors to figure out if the current situation could in fact be an opportunity to get into the stock.
Yesterday, the company was in the news after it announced that the invitro studies have revealed that its Sigyn Therapy had the capability of reducing the presence of gram positive bacterial toxins that may be present in blood plasma of humans.
It goes without saying that the announcement was a significant one for Sigyn Therapeutics and its product. However, at the same time, it is also necessary to point out that it did not lead to any boost for the company’s stock. At this point in time, it may be a good idea to add the stock to your watch lists and keep an eye on the action.
Key Quote
“We created Sigyn Therapy to perform functions that are beyond the reach of drugs and to overcome the constraints of blood purification technologies limited to the individual targeting of either cytokines, endotoxin, or viruses,” stated Jim Joyce, Chairman and CEO of Sigyn Therapeutics. “Since reporting the outcome of our first study one year ago today, we have collected an expansive amount of data that supports the breadth of our therapeutic vision.”
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