Over the course of the past week, the Net Medical Xpress Solutions (OTCMKTS:NMXS) stock has been in the middle of a fairly rollicking rally and managed to clock gains of as much as 21% during the period. In this context, it is necessary to point out that the company was in the news yesterday as well and it might be the right time to take a look into it.
Market Action
On Monday, NMXS stock ended flat at $0.0970 with 136K shares, compared to its average volume of 19.5K shares. The stock moved within a range of $0.0970 – 0.0970 after opening trade at $0.0700.
Net Medical Expands COVID Services With Clinical Trials for Manufacturers
The company announced that it had been successful in commencing a clinical trial program for medical manufacturers who might need to send in an Emergency Use Authorization filing. It was a major new announcement from Net Medical and one that could have a significant effect on its stock as well in the medium to long term.
In addition to that, Net Medical will also be helping the manufacturers in getting the crucial 510K clearance that is awarded by the United States Food and Drug Administration. Many companies in the international markets as well as in the domestic markets need such services for their medical devices and Net Medical is going to help those companies with the whole thing. It may be a good idea to keep the stock in your watch lists at this point.
Key Quote
Net Medical CEO Dick Govatski said, “With the deep COVID expertise we have acquired over the past two years, Net Medical has developed a highly complex service essential for medical manufacturers to work through a rigorous process of compliance and regulatory hurdles. Telemed provides highly specific data acquisition, management, maintenance and reporting in English and Spanish. As part of the enforcement policy for medical devices under EUA requirements, manufacturers must follow the reporting (MDR) requirements established in 21 CFR Part 803 (Code of Federal Regulations).
Traders Note
NMXS stock is trading above the 20-Day and 50-Day Moving averages of $0.077 and $0.072 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 53.
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