ViaDerma Inc. (OTCMKTS:VDRM) announced the successful completion of the internal quality control testing for its new Vitastem products, on September 15, 2022. The testing has been implemented as an additional precautionary safeguard since products Vitastem and Vitastem Ultra are using new formulations.
Trading Data
On Thursday, VDRM stock surged 22.45% to $0.0120 with more than 963.07K shares, compared to its average volume of 1.79 million shares. The stock moved within a range of $0.0104 – 0.0130 after opening trade at $0.0130.
ViaDerma Successfully Completes Quality Control Testing of its New Vitastem Products
The initial shipment of the new products has been received by ViaDerma, which has allowed the company to resume their online product sales. Vitastem and Vitastem Ultra are FDA-registered drugs – they are among the strongest and most effective topical antibiotics available on the market.
Vitastem destroys Gram-positive and Gram-negative bacteria that have been available for testing. It refers to bacteria that are associated with acne, cuts, scrapes, burns, and secondary infections associated with psoriasis and eczema. On the other hand, Vitastem Ultra uses bacitracin as the active ingredient and the new formula is clear and colorless compared to the brownish color of the original. It won’t stain the skin, fingernails, toenails, or anywhere else it is applied.
The new formulations with bacitracin are also an alternative for consumers who are allergic or resistant to one or the other. President and CEO, Dr. Chris Otiko confirmed that the successful test results allow them to move ahead with the new products. With the products back in stock, they can speed up online sales, and once again get involved in discussions for pending purchase orders as well.
Key Quote
President and CEO, Dr. Chris Otiko said, “As expected, the testing was successful which now allows us to confidently move forward with our new products. Having the products back in stock not only puts us in the position to restart our online sales, but also opens the door for us to resume discussions for pending purchase orders we had been working on for some time.
Technical Data
VDRM stock is trading above the 20-Day and 50-Day Moving averages of $0.0107 and $0.0094 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0083. The company has a total market capitalization of $4.56 million.
