BioElectronics Corp. (BIEL) announced today that its RecoveryRx™ product, disposable medical device, is awaiting a near term decision from the U.S. Food and Drug Administration.
“For the past few months we have been working with personnel at the FDA on questions they have posed on our application, the functionality of the device and on the efficacy,” commented Andy Whelan, CEO of BioElectronics. “We have supplied FDA with an extensive amount of information, which we believe more than adequately addresses their questions. As a result we are expecting a positive result from the application process over the coming weeks.”
As of 11 a.m. EST BioElectronics Corp. (BIEL) stock gained 87% on 20.6X 10day average volume (31M shares vs 1.5M)
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BioElectronics Corporation manufactures and markets drug-free anti-inflammatory medical devices and patches containing an embedded microchip and battery that deliver pulsed electromagnetic energy for anti-inflammatory and pain relief therapy under the ActiPatch, Allay, RecoveryRx, and HealFast names. The company?s products include ActiPatch Therapy kits for back, knee, wrist, tennis elbow, and heel pain; Allay Menstrual Pain Therapy kit for dysmenorrhea; and RecoveryRx, which focuses on plastic surgery, and orthopedic and sports medicine markets.