On Thursday, ViaDerma Inc (OTCMKTS:VDRM) had come into the news cycle after it made a major new announcement. The company announced yesterday that not too long ago it had submitted its application for approval to the United States Food and Drug Administration for its Minoxidil hair regrowth product.
On Thursday, VDRM stock gained 29% to $0.0129 with more than 22.31 million shares, compared to volume of 4.39 million shares. The stock moved within a range of $0.0110 – 0.0143 after opening trade at $0.0115.
ViaDerma Announces FDA Registration Application Update & Brand Name for New Hair Regrowth Product
More importantly, the company noted in its press release yesterday that the entire registration process was going to be fairly quick and could be concluded in a matter of few weeks. ViaDerma announced that the brand name that it chose for its product was Nupelo. The product is going to be powered by the company’s patent pending proprietary dual carrier transdermal delivery technology. The product is going to see the deployment of Minoxidil through the tropical route.
The company also announced yesterday that it was going to make the product available through a range of online platforms. That would also include nupelo.com, a domain that had been acquired by the company recently. However, it was also announced that the product is going to hit the market and become available for purchase by the end of the second quarter of 2023. It now remains to be seen if this announcement leads to any traction for the ViaDerma stock or not.