RetinalGeniX Technologies Inc. (OTC:RTGN) Stock Takes a Hit: Here is Why

On Tuesday, RetinalGeniX Technologies Inc. (OTC:RTGN) was one of the companies that made a significant new announcement, and it is likely that the stock is going to come into focus today. The company announced that it contracted the services of MEDsan Inc. for the purpose of providing diagnostic testing services to its IRB (institutional review board).

The IRB would use those services for the purpose of a study to personalize medical evaluations for those patients getting treated for wet macular degeneration. The Chief Executive Officer of MEDsan spoke about the latest development yesterday. He noted that everyone at the company was pleased at the prospect of providing the requisite services for testing wet macular degeneration, a niche that MEDsan had been looking into for quite a while. He went on to note that there was a belief within the company that RetinalGeniX Technologies was the right partner for a venture of that nature.

On top of that, it was also noted that RetinalGeniX Technologies had also commenced plans related to pharmaceutical clinical studies for the purpose of treating dry age-related macular degeneration as part of its DNA/RNA/GPS program. The program would also include dementia and Alzheimer’s complex studies. In conjunction with its pharmaceo-genetic mapping, the company is also working on the development of a high-resolution retinal home and remote monitoring system.

The system is meant for providing around-the-clock real-time alerts to patients as well as physicians and would not need the dilation of the pupils. The technology would help in detecting and treating ocular diseases early so as to prevent the onset of blindness. The President and Chief Executive Officer of the company, Jerry Katzmann, called MEDsan a new-generation CLIA-approved diagnostic laboratory services facility that was equipped with the most advanced equipment in the industry.