Those who were active in the stock markets last Friday would probably have noticed that the stock of the bioelectronic devices developer Electromedical Technologies Inc (OTCMKTS:EMED) ended the day with gains of as much as 73%. More importantly, the rally in the stock on Friday, took its gains for the whole week to a staggering 117%.
In the absence of any material news about Electromedical, it might be a good move to take a look at a development from back in April this year. The company is well known for having developed the device WellnessPro+Plus, which has been approved by the United States Food and Drug Administration.
Back in April, Electromedical announced that it started the Phase 2 of its prototype construction work with regards to the new device WellnessPro POD. That was a major announcement from the company and at the time, Electromedical also noted that it expected the second phase of the prototype construction process to be completed at some point in the fall of this year.
After completing that particular phase, the company is going to send in a medical device submission to the FDA. At this point, investors could consider keeping an eye on the news with regards to Electromedical.
