SleepX, which is a subsidiary of AppYea Inc. (OTCMKTS:APYP), focuses on the development of accurate wearable monitoring solutions to treat sleep apnea and snoring, announces it received authorization to extend patent Apparatus And Method For Diagnosing Obstructive Sleep Apnea number EP2608717 A4 in UK, Germany, and France.
On Thursday, APYP stock fell 5.26% to $0.0675 with more than 33.60K shares, compared to volume of 92K shares. The stock moved within a range of $0.0670 – 0.0890 after opening trade at $0.0800.
AppYea Inc (OTC: APYP) received Extention confirmation for strategic patents in the UK, Germany, and France.
SleepX is an Israeli research and development company recently acquired by AppYea. It had come up with an advanced product to monitor and treat sleep apnea and snoring. This technology is protected by several international patents and the company plans to start serial production in 2022. As of now, the company is involved in the development and commercialization of its flagship product DreamIT.
This patent is one of the strategic assets of the company, as it protects the rights to use a microphone of any type and sound analysis for the purpose of identifying and diagnosing sleep apnea. The most common method to perform a test for apnea diagnosis requires overnight hospitalization in a sleep laboratory. But AppYea’s SleepX PRO solution will make it possible to perform a sleep test every night using a smartphone app only, without physical contact with the patient.
The company will apply for a 510(K) approval to the FDA for its SleepX PRO solution for contactless detection of sleep apnea to be performed through the Artificial Intelligence (AI) analysis of breathing during sleep.
“Poor sleep is associated with the compromised immune system, heart problems, reduce physical and mental performance, mood problems, obesity, and many other health problems”, said Neil Kline, Founder & former CEO of the American Sleep Association, and a AppYea Board Member. “Unfortunately, most people with sleep disorder breathing problems, like sleep apnea, are undiagnosed and untreated. Our goal in this unique technology is to raise the awareness to the problem so people can live healthier and more fulfilling lives.”
APYP stock is below the 20-Day and 50-Day Moving averages of $0.0713 and $0.0788 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0695. The company has a total market capitalization of $14.71 million. The stock is down 16% over the past 6 months.