Although the company made a fairly positive announcement yesterday, the Vivos Inc (OTCMKTS:RDGL) stock suffered nonetheless in a volatile market and went down by as much as 9%. The company announced yesterday that it had been successful in filing for a patent for its hydrogel component in RadioGel/IsoPet in the United States.
On Wednesday, RDGL stock lost 9.25% to $0.0520 with more than 1.32 million shares, compared to its average volume of 566.46K shares. The stock moved within a range of $0.0490 – 0.0569 after opening trade at $0.0550.
In addition to that, an international application had also been filed under the provisions of The Patent Cooperation Treaty. The company noted that over the course of the past 18 months the team in charge of the project had worked with polymer contracting experts in order to further optimize the hydrogel component.
The aim was to make the product far more effective, more productive in terms of output and produce more gelation. The company also put in place the Vivos Inc Standard Operating Procedure for Polymer Production and noted that it was confident that it was going to meet the standards set by the United States Food and Drug Administration.
The announcement was a significant one from Vivos Inc and it is going to be interesting to see if the stock manages to make a recovery any time soon over the course of the coming days.
Dr. Mike Korenko stated, “This was a substantial effort that revealed novel production insights that are not obvious and therefore patentable. As part of this process, we just filed a patent application on the hydrogel component, while keeping the production refinements as important proprietary intellectual property.
RDGL stock is trading below the 20-Day and 50-Day Moving averages of $0.0529 and $0.0597 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0694.