Innovation Pharmaceuticals (OTCMKTS:IPIX) has provided an update for shareholders on September 13, 2022, regarding the current progress by BT BeaMedical Technologies Ltd., previously known as Squalus Medical Ltd. The company had talked about taking a keen interest in BT BeaMedical Technologies, back in June 2022.
On Tuesday, IPIX stock up 5.71% to $0.0370 with more than 196.03K shares, compared to its average volume of 904.20K shares. The stock moved within a range of $0.0344 – 0.0370 after opening trade at $0.0360.
Innovation Pharmaceuticals’ Investment in BT BeaMedical Helping Advance New Surgical Laser Platform
The update is regarding the advancing of its new image guided surgical laser platform for treating previously inoperable cases of epilepsy and enabling new treatment options for cancer cases in multiple specialties.
As of now, BT BeaMedical Technologies has informed the company about initiating important software integration work, and engaging regulatory agencies on appropriate development steps via the 510(k) pathway. It has even formalized a distribution agreement with Fortec Medical that has access to over 2700 hospitals in the U.S., while identifying crucial opinion leaders to serve in scientific advisory capacities.
BT BeaMedical Technologies anticipates additional value-added events to occur as it works towards reshaping laser guided surgery with its unique directed laser technology system. More information is available on the BT BeaMedical Technologies company website.
IPIX stock is trading above the 20-Day and 50-Day Moving averages of $0.0392 and $0.0421 respectively. However, the stock is trading below the 200-Day moving average of $0.0404. The company has a total market capitalization of $17.46 million.