Forwardly Inc. (OTCMKTS:FORW) jumped 9% after its partner Ligand Innovation Global Inc.’s CEO Dayo Olakulehin announced that the company had achieved substantial breakthroughs in developing the latest LifeAir G1 portable ventilator prototype. Following numerous trial configurations, Ligand’s engineers have developed an airway circuitry that can deliver the highest tidal volume despite maximum ling resistance.
Olakulehin said that this is the technical jargon regarding the operation of the device. Still, in a layman’s term, they have tested a new airway device on a standardized test lung, and it is operating well.
Most importantly, the system can deliver consistent tidal volume despite changes in system volume and tubing length. The next step for the company is building a 3D printed bag compression mechanism mock-up and producing comprehensive data for the operating airway circuitry. The company will release a final prototype in October and complete FDA submission by December 2021. Therefore in the months ahead of the FDA submission, FORW is a stock to watch.
On Wednesday, FORW stock rose 8% at $0.12 with more than 8.85 million shares, compared to its average volume of 2.90 million shares. The stock has moved within a range of $0.1101 – 0.1380 after opening the trade at $0.12.